Cushman & Wakefield announced the commercial real estate services firm has arranged the sale of Meridian at the Port, a 267-unit apartment community located in Downtown Mobile, Alabama.
Jimmy Adams and Craig Hey of Cushman & Wakefield represented the seller, Bristol Mobile Partners LLC, in the transaction. ApexOne, a privately held real estate investment firm and fund manager, acquired the property.
“Thoughtfully designed with exceptional construction quality and modernized use of space, the market took note of Meridian at the Port’s uniqueness,” Adams said. “The property has experienced tremendous success and is well poised for the future due to its quality, amenities and proximity to the Port of Mobile.”
Built in 2019, Meridian at the Port is a rare construction type featuring structured parking and a market-defining amenity footprint. Amenities include a state-of-the-art fitness center, saltwater swimming pool, pet spa, bark park, rooftop lounge with port view, outdoor fireplace with kitchen, clubhouse, billiard/media room and resident lounge. Located at 300 N. Water Street, the property is 97 percent occupied.
Cushman & Wakefield’s Sunbelt Multifamily Advisory Group ranks No. 1 in Sunbelt market share based on over 250 transactions and $6.2 billion in multifamily and land investment sales in 2020 (Source: Real Capital Analytics). Market share reflects number of sales for Alabama, Arkansas, Northwest Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Texas.