ApexOne Puts $67M into Purchase of Birmingham Apartment Community

Cushman & Wakefield has arranged the $67.1-million sale of Riverchase Landing, a 468-unit apartment community located in Hoover, AL, near Birmingham. The per-unit price works out to $143,376.

Jimmy Adams, Craig Hey and Andrew Brown of Cushman & Wakefield represented ApexOne Investment Partners, in the transaction. Kushner Companies acquired the property.

Riverchase Landing is situated in Birmingham’s Hoover submarket. Amenities include a clubhouse, community room, dog park and washing station, fitness center, grill stations, playgrounds, two pools and tennis courts.

“Riverchase Landing is a unique property that offers residents a home-like feel with 1,600-square-foot floor plans and robust community amenities,” Adams said. “New ownership is excited to implement a value-add campaign to capture the tastes of the growing Hoover renter pool.”