Coastal Ridge, M Group Purchase Apartment Community in Birmingham for $40M

BIRMINGHAM, ALA. — Coastal Ridge Real Estate, in partnership with M Group, has acquired The Village at Lakeshore Crossings, a 264-unit apartment community located at 251 London Parkway in Birmingham, for $40 million. A Philadelphia-based private investor sold the property. Constructed in 2013, The Village at Lakeshore Crossings offers one-, two- and three-bedroom units with rents ranging from $1,067 to $1,512. Individual units feature hardwood floors, granite countertops and private porches. Community amenities include a resort-style swimming pool, outdoor kitchen with a gas grill, outdoor fire place with a lounge area, lighted tennis court, clubhouse, media room, fitness room, pet park and a pet wash station.