Berkadia Arranges Sale of 322-Unit Birmingham MF Property
Berkadia has arranged the sale of 100 Inverness, a 322-unit multifamily property in Birmingham, AL. The sales price was not disclosed.
Located at 100 Iverness Lane, the property is on a 39-acre lakefront site in the Highway 280 submarket of Birmingham. The property features 2,450 feet of shoreline on Lake Heather and extensive frontage on the Iverness Country Club golf course. The property was built in two phases in 1974 and 1979 and was the first major apartment property to be developed in the Highway 280 corridor submarket of Shelby County.
David Wilson, Caleb Frizzell and Steve Nunnelley of Berkadia’s Birmingham office, with support from David Oakley of OG Capital, represented the seller, Colorado-based FPA Multifamily, in the transaction. A Texas investors group acquired the property.
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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