Transwestern Real Estate Services (TRS) announces its Southeast Investment Services team has negotiated the sale of Zelda Pointe, a 160-unit multifamily property at 2845 Zelda Road in Montgomery, Alabama. Transwestern Senior Managing Directors Mike McGaughy and Jon Kleinberg represented the seller, Florida Value Partners, in the $9.4 million disposition to Highlands Vista Group.
“Zelda Pointe’s prime central location, an optimal unit mix of 80 percent two-bedroom apartments, and competitive amenities have resulted in notable organic rent growth and solid revenue increases over the past several years,” said McGaughy.
Spanning 11.96 acres, Zelda Pointe features well-designed floor plans, several premium upgraded units and strong average occupancy. Within a 1 mile radius, the average household income is more than $80,000, reflecting the strength of the location and availability of qualified renters. The property benefits from seamless access to major thoroughfares, including Interstate 85, Atlanta Highway and Eastern Boulevard, as well as the city’s major retail, healthcare, education, and recreation amenities.
“The professionalism and experience of the Transwestern team played an integral role in getting this transaction done,” said Florida Value Partners’ Managing Partner Gus Alfonso. “It was a pleasure working with Highlands Vista Group as they continue to expand their inventory of assets.”
Transwestern’s Southeast Investment Services Group also recently brokered the sale of 300-unit apartment community The Lake House at Martin’s Landing in suburban Atlanta. Since the beginning of the year, the team has facilitated investment sales transactions totaling more than $300 million in Alabama, Georgia, Florida, North Carolina and South Carolina.
The group combines capital markets and investment banking expertise with local market knowledge and proven transaction execution to provide strategic disposition services for multifamily, office, retail, medical, industrial and land assets across the Southeast. The team has established a successful track record for maximizing value and creating long-term relationships with clients that range from local entrepreneurs to the largest corporations in the country.