Arch Cos. and Drake Real Estate Partners have acquired The Park at Forestdale, a 486-unit, garden-style multifamily property in the Forestdale neighborhood of Birmingham. The sales price was not disclosed.
The property is located approximately 10 minutes from downtown Birmingham and includes a mix of studio, one-, two- and three-bedroom apartment units. Arch Cos. plans to engage in a strategic value-add program on the property to improve resident experience and meet sustainability goals through Arch’s vertically integrated asset management and construction teams.
The seller was not disclosed.
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles.
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