Marcus & Millichap has arranged the sale of two multifamily properties in the Birmingham metro area. The two properties sold for a total of $58.2 million.
The properties include Chace Lake Villas, a 264-unit asset in Birmingham that sold for $31.4 million and Renaissance at Galleria, a 244-unit property in Hoover that traded for $26.8 million. The properties are nearby Interstate 459, a Whole Foods Market location, AT&T’s Corporate Offices and Riverchase Office Plaza. Chace Lake Villas was built in 1996 on 13 acres and Renaissance at Galleria was constructed in 1994.
Josh Jacobs of Marcus & Millichap represented the seller, West Palm Beach-based Myers Apartment Group, in the transaction. The buyer was Carter Funds.
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.
Email the Author
Reach over 250,000 Commercial Real Estate Professionals with Connect
Connect CRE reaches the top commercial real estate players nationwide and across all property types, offering you a variety of ways to showcase your team, your expertise and your brand to CRE decision makers.
The home for CRE news and everything you need to stay informed on deals, trends, and transactions, providing a platform to get your brand in front of your target audience.
Daily CRE Emails
Reaching over 150,000 inboxes across the nation every day, Connect’s Daily News emails provide advertising opportunities specific to your market.
Bi-Weekly Property Sector Emails
Focus your advertising on emails dedicated to your property sector and stay visible to current and potential clients.
Position your team as experts in your field with content created by Connect’s editorial team and published on Connect’s news emails. Showcase your intelligence and broaden your reach.