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CushWake Brokers $22M Sale of Two Birmingham Apartment Properties

Cushman & Wakefield has arranged the $21.5 million sale of two apartment communities totaling 289 units in Birmingham.

Valley Crest, which includes 176 units, sold for $13.3 million, and Park on Valley, which include 113 units, sold for $8.2 million. The communities are situated between Downtown Birmingham and the affluent municipalities of Homewood and Vestavia Hills. Both properties have recently received substantial improvements including new siding, windows, landscaping and interior upgrades.

Andrew Brown, Craig Hey and Parker Caldwell of Cushman & Wakefield represented the seller, Arcan Capital, in the transaction. 3MC Capital Partners, a real estate private equity firm, acquired the properties.

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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.

  • ◦Sale/Acquisition
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