HOOVER, ALA. — Cushman & Wakefield and Greystone has arranged the sale of Ridge Crossings, a 720-unit apartment community located in the Birmingham suburb of Hoover. Canadian-based Avenue Living was the buyer. The sales price was not disclosed, but Birmingham Business Journal reports the property traded for $111 million.
Originally completed in 1991, Ridge Crossings offers one-, two- and three-bedrooms ranging in size from 861 to 1,520 square feet. According to Apartments.com, amenities include a swimming pool, tennis and racquetball courts, fitness center, concierge services, dog park and a clubhouse.
Andrew Brown, Craig Hey, Ben Thomas and Tommy Coleman of Cushman & Wakefield represented the undisclosed seller in the transaction. Additionally, Dan Sacks of Greystone originated a Fannie Mae loan of an undisclosed amount for the acquisition.