Alabama

MONTGOMERY, ALA. — Morrison Avenue Capital Partners has sold Arbor Station and Stratford Village, two apartment communities totaling 512 units in Montgomery. Craig Hey and Andrew Brown of Cushman & Wakefield represented the seller in the transaction. Highlands Vista Group acquired the properties for an undisclosed price. Arbor Station, a 288-unit apartment community, was 98 percent occupied at the time of sale. Stratford Village, a 224-unit community, was 95 percent occupied. Both properties offer one-, two- and three-bedroom floorplans with units featuring private balconies or patios, hardwood-inspired flooring, wood burning fireplaces, ceiling fans and washer and dryer connections in select homes. Arbor Station is located at 2495 Meadow Ridge Lane, and offers community amenities such as a picnic area, playground, fitness center and a Jacuzzi and sundeck. Located at 2000 London Town Lane, Stratford Village’s community amenities include two pools with a sundeck, onsite parking, tennis court, pet play area, fitness center and a clubhouse. The properties are situated about one mile from each other. Morrison Avenue completed $5 million in capital improvements at both communities, including renovations of almost all unit interiors, new roofs and a new clubhouse at Stratford Village.

HOOVER, ALA. — Cushman & Wakefield has arranged the sale of Riverchase Landing, a 468-unit apartment community located in Hoover, about 12.1 miles from Birmingham. Jimmy Adams, Craig Hey and Andrew Brown of Cushman & Wakefield represented the Houston-based seller, ApexOne Investment Partners, in the transaction. New York-based Kushner Cos. acquired the property for $67.1 million. Built between 1984 to 1992, Riverchase Landing offers one-, two- and three-bedroom floorplans. The property’s units feature walk-in closets, wood-style floors, gas fireplaces and vaulted ceilings. Community amenities include a clubhouse, community room, dog park, dog washing station, fitness center, grill stations, playgrounds, two pools and tennis courts. Located at 200 River Haven Circle, the apartment community has access to Interstates 65 East and 459, and is located 1.7 miles from Riverchase Galleria, a shopping center with over 145 stores.

MOBILE, ALA. — Cushman & Wakefield has brokered the sale of Meridian at the Port, a 267-unit apartment community located in downtown Mobile. Jimmy Adams and Craig Hey of Cushman & Wakefield represented the Nashville-based seller, Bristol Mobile Partners LLC, in the transaction. Houston-based ApexOne acquired the property for an undisclosed price. Built in 2019, Meridian at the Port offers one- and two-bedroom floorplans ranging from 602 to 1,308 square feet. Unit features include in-unit washers and dryers, granite countertops, walk-in closets and hardwood floors. Community amenities include a fitness center, saltwater swimming pool, pet spa, bark park, rooftop lounge, outdoor fireplace with kitchen, clubhouse, billiard and media room and a resident lounge. The property was 97 percent occupied at the time of sale. Located at 300 N. Water St., the property is situated within walking distance of downtown Mobile and about 10.8 miles from the University of Mobile.