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Birmingham Apartment Community Trades for $45M
Cushman & Wakefield has arranged the $45.3 million sale of The Trails at Cahaba River, a 400-unit apartment community in Birmingham, AL. Andrew Brown, Craig Hey and Jimmy Adams of Cushman & Wakefield represented the seller, Merion Realty Partners, in the transaction. The buyer was Timberland Partners.
The Trails at Cahaba River is located along the US-280 Corridor. Community amenities include two swimming pools, picnic areas, a fitness center, a private trail on the Little Cahaba River, and an outdoor playground.
“Merion Realty Partners invested heavily in the clubhouse and unit interiors at The Trails at Cahaba River over the last few years,” said Brown. “The renovations were so well-received by the market that the buyer has the flexibility to take the renovations across the property to an even higher level of finish, which is part of their investment thesis and capital plan.”
For comments, questions or concerns, please contact David Cohen
- ◦Sale/Acquisition
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