Capstone Scores Equity Partner for First Birmingham BTR Community
Berkadia has sourced an equity partner for Capstone Communities to develop The Cottages at Greystone, its first build-for-rent community in the Birmingham, AL area.
A Berkadia team of Cody Kirkpatrick, Noam Franklin and Chinmay Bhatt sourced the equity partner, a fund manager based in Texas.
The Cottages, designed by Birmingham-based Nequette Architecture & Design, will offer a mix of lofts, one and two-story cottages, as well as two-story townhomes including private outdoor yards. The 189-unit, low-density development will incorporate “new urbanism” with sidewalks, pocket parks and open green spaces that create a true sense of place for its residents.
Neighborhood amenities include lush courtyards with pavilions, a central clubhouse with a resort-style pool, fitness and business centers, pet washing stations and valet trash. The Cottages will sit on approximately 30 acres within the Greystone community, just minutes off Highway 280 with access to retail destinations recreational activities and several business parks.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.