Marcus & Millichap Brokers $25.8M Sale of Park at Forestdale Multifamily Property in Birmingham
BIRMINGHAM, ALA. — Marcus & Millichap has brokered the $25.8 million sale of The Park at Forestdale, a 486-unit multifamily asset in Birmingham. The property sold for $52,984 per unit.
Josh Jacobs of Marcus & Millichap represented the seller, an affiliate of Birmingham-based Four Four Capital. Jacobs also procured the buyer, a partnership between Arch Co. and Drake Real Estate Partners.
Built between 1968 and 1980, the Park at Forestdale is located 5.7 miles from downtown Birmingham and 6.2 miles from The University of Alabama at Birmingham. Community amenities include a fitness center, pool and a playground. The property features studios and one-, two- and three-bedroom apartments.