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Berkadia Arranges Sale of 722-Unit MF Property in Birmingham

Berkadia has arranged the sale of Valora at Homewood, a 722-unit, garden-style multifamily property in metro Birmingham’s Homewood submarket. The sales price was not disclosed.

Located at 915 Valley Ridge Drive, the 334-unit Phase I is located in the city of Homewood and was built in 1969, while the newer 388-unit Phase II was built in 1978 and located in the city of Birmingham. Valora at Homewood includes one-, two- and three-bedroom floorplans with walk-in closets and patios or balconies. Community amenities include two swimming pools with sundecks, a fitness center, a laundry facility, two tennis courts and a clubhouse.

David Oakley, David Wilson and Caleb Frizzell of Berkadia’s Birmingham office represented the seller, Dallas-based LURIN, in the transaction. The buyer was a private equity group based in the Washington, D.C. area, and it was their first Alabama acquisition.

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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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