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Atlanta & Southeast   /   March 28, 2021

David Cohen
By: David Cohen

Birmingham Multifamily Portfolio Trades for $58M

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.

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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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