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HFF Completes $55M Sale, Arranges Financing for Alabama MF Acquisition

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HFF completed the $55.2-million sale of Station 121, and arranged financing for the 255-unit, Class A, mid-rise apartment community in Birmingham, AL. Miami-based Advenir, Inc. acquired the property from Wicker Park Capital Management, LLC. The asset was purchased free and clear of existing financing, and Advenir is rebranding Station 121 as Advenir @ Station 121.

Station 121 is situated on 2.75 acres at 2000 2nd Avenue South in downtown Birmingham. In addition to the 255 residential units averaging 764 square feet, Station 121 also has six 100-percent-occupied, ground-floor retail spaces totaling 21,194 square feet.

HFF’s investment sales team representing the seller included Jason Nettles and Megan Thompson. HFF’s debt placement team representing the buyer included Eric Tupler, Josh Simon and Chip Sykes.

Advenir utilized its $100 million revolving credit facility that HFF secured on its behalf earlier this year for the acquisition. This is the second asset placed on the facility this year.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Financing
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