The Birmingham office of a commercial real estate brokerage firm represented both the buyer and seller in a $10.8 million deal involving two metro apartment complexes.
The Landings Portfolio, which sold in the transaction, includes:
- Center Pointe Landings, at 107 Sterling Ct. N.W., with 140 units spanning 140,000 square feet. It has a mix of one-, two- and three-bedroom floor plans, averaging 936 square feet.
- Clay Landings, at 856 Park Brook Trail, totals 120,000 square feet with 124 units. It offers one- and two-bedroom apartments, averaging 967 square feet.
Josh Jacobs, senior managing director of investments for Marcus & Millichap’s Birmingham office, represented both the buyer and seller, which were not identified in a news release.
“These sales underscore the continued investor demand for quality workforce housing in Alabama,” Jacobs said…