HOOVER, ALA. — SDM Partners has acquired Meadow Brook North, a three-building, 365,000-square-foot office portfolio located on Corporate Parkway in Hoover, roughly 11 miles south of Birmingham. Patterson Real Estate Advisory Group arranged acquisition financing for the transaction, which included a joint venture equity partnership with Blue Vista and bridge loans from Hamilton State Bank and State Bank & Trust Co. Other terms of the transaction were not disclosed. The portfolio originally included a fourth building, which SDM negotiated the sale of to a local user that closed simultaneously with SDM. Of the three buildings in SDM’s acquisition, one is fully leased to BlueCross BlueShield of Alabama, one is a multi-tenant building currently 87 percent leased and the third is vacant. Joe Sandner III and Joe Sandner IV of Colliers International will handle the portfolio’s leasing assignment.
The three-building office portfolio is located on Corporate Parkway in Hoover, Ala., roughly 11 miles south of Birmingham.
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