CLK Purchases Park Apartments in Mobile for $15.8M

by John Nelson

MOBILE, ALA. — CLK, a Long Island-based commercial real estate investment firm, has acquired The Park Apartments, a 201-unit multifamily community located at 1 Country Lane in Mobile. Lakewood, N.J.-based Walden Asset Group sold the property for $15.8 million, or $78,600 per unit. Aaron Jungreis and David Wildes of Rosewood Realty Group represented both the buyer and seller in the off-market transaction. Built in 1975, Park Apartments features 20 two-story buildings, a pool, fitness center, playground and a picnic area. The property is situated on 11.5 acres within three miles of the Mobile Regional Airport and the University of Southern Alabama. The community was 95 percent occupied at the time of sale.

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