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Trio of Alabama MF’s Trade for $94M

Contour Development acquired three multifamily properties in Birmingham, AL totaling 1,816 units. The portfolio was sold by an undisclosed Texas-based real estate firm for $93.53 million.

The properties include The Park at Buckingham in Homewood (pictured), which was built in 1972 and has 583 units. Amenities include lighted championship-size tennis courts, sand volleyball court, two pools with sun decks and a theater room.

Also included in the deal are The Park at Callington and Carlyle, which encompass a total of 1,233 units that were built in 1978 and 1973. Amenities include lighted tennis courts, three pools with sun decks, volleyball court and a fitness center with free weights.

Cushman & Wakefield’s Josh Jacobs and Jimmy Adams represented the seller.

Jacobs says, “The more than 1,800-unit package represented the rare opportunity to establish a major foothold as a large-scale portfolio owner within the Birmingham rental market.”

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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.

  • ◦Sale/Acquisition
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