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Atlanta & Southeast  + Southeast  + Apartments  |  June 21, 2021
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By: David Cohen

Berkadia Arranges Sale of 315-Unit Birmingham MF Community

Berkadia has arranged the sale of The Point at Oak Mountain, a 315-unit multifamily community in Birmingham. The sales price was not disclosed.

Built in 1997 at the base of Oak Mountain along the U.S. Highway 280 corridor, the community offers a location in a highly affluent area of Birmingham. The property has been re-named Aventura Oak Mountain. The buyer plans to modernize the property through apartment home interior renovations and enhancements to common area amenities.

David Wilson, Caleb Frizzell and Steve Nunnelley of Berkadia Alabama arranged the sale on behalf of the seller, Waypoint Residential. Waypoint acquired the property in 2015 in a Berkadia-brokered transaction. The buyer was a value-add fund managed by Boston Capital Real Estate Partners.

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About David Cohen

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. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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