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Cushman & Wakefield has arranged the $18.9-million sale of The Cottages on Weaver Avenue, Birmingham’s first build-to-rent community.

Morrison Avenue Pays $19M for Birmingham’s First Build-To-Rent Community

Cushman & Wakefield has arranged the $18.9 million sale of The Cottages on Weaver Avenue, a newly constructed built-to-rent community located in the emerging Birmingham, AL suburb of Leeds.

Cushman & Wakefield’s Parker Caldwell, Jimmy Adams and Craig Hey represented the sellers, Tower Homes and Price Hightower, in the transaction. Tampa, FL-based Morrison Avenue Capital Partners acquired the asset.

“Cottages on Weaver Avenue was a strong foray into the build-to-rent space for Tower Homes, one of Birmingham’s most prominent home developers,” said Caldwell, Associate at Cushman & Wakefield. “We are seeing continued demand on both the rental and investment fronts of this new asset class.”

The Cottages on Weaver Avenue represents the first build-to-rent community to market in the Birmingham metro area. Key features include detached single-family homes with large three-bedroom floorplans, private driveways, and spacious front and backyards. The community’s location in Leeds offers access to downtown Birmingham and a variety of retail, dining, and entertainment establishments located along Interstate 20.

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Cushman & Wakefield's Caldwell

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.

  • ◦Sale/Acquisition
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