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Atlanta & Southeast  + Southeast  + Apartments  | 
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CushWake Finalizes $19M Sale of Mobile Multifams to Safe Harbor Investments

Cushman & Wakefield has arranged the $19.2-million sale of Summer Place and Summertree, two apartment communities in Mobile that total 304 units.

Andrew Brown and Parker Caldwell of Cushman & Wakefield represented the seller, RREAF, in the transaction. Both properties were acquired by Safe Harbor Investments, LLC.

“The two assets were attractive acquisition targets as they have been experiencing strong velocity in a tightening submarket in west Mobile,” said Brown. “The next ownership group is excited about this acquisition, which is in a rapidly growing metro area with huge upside potential through value-add interior upgrades.”

Built in 1975 and 1980 respectively, Summer Place and Summertree are situated in a submarket with close proximity to several employers and quality retail.

Cushman & Wakefield’s Sunbelt Multifamily Advisory Group in 2021 closed $13.8 billion in sales volume through 429 deals and nearly 85,000 units.

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Cushman & Wakefield’s Brown

About Lisa McDuffie

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.

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