Atlanta & Southeast News In Your Inbox
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Mobile, AL Build-for-Rent Community Sells for $31M
Cushman & Wakefield has arranged the $31-million sale of Palladian at Daphne, a 120-unit multifamily rental community located in the Daphne municipality of Mobile, AL
Craig Hey and Jimmy Adams of Cushman & Wakefield represented the sellers, Hathaway and Lynx Capital, in the transaction. During Hathaway’s ownership, the property was professionally managed by Provence Real Estate, a third-party property management firm that specializes in multifamily assets. The property was acquired by Henssler Capital.
“Daphne is part of Baldwin County, which continues to be a growth accelerator for the state and region as its population has grown over 50% since 2000,” said Hey. “Palladian at Daphne was an early example of the build-for-rent product type that is experiencing heavy demand in many Sunbelt markets along the gulf coast.”
The 2017-constructed Palladian at Daphne is situated along the Eastern Shore of Mobile within proximity to retail and employment.
- ◦Sale/Acquisition
