Cushman & Wakefield announced that the commercial real estate services firm has arranged the sale of Paces at the Estates, a 270-unit multifamily property located in Opelika, Alabama.
Andrew Brown of Cushman & Wakefield and Brian Savage of Colliers facilitated the transaction. The seller was RREAF Holdings.
“Paces at the Estates is one of the few Class ‘A’ conventional multifamily properties in the Auburn-Opelika metro area. The buyer is excited to implement their management strategy in a market with historically high occupancy and growth opportunity,” said Brown, Managing Director at Cushman & Wakefield.
Built in 2008 and 2019, Paces at the Estates is well-positioned within a great submarket of the Auburn-Opelika metro area with major job drivers and quality retail nearby. Community amenities include a pool, courtyard with fire pit, gas grilling area, fitness center, and gated access.
Cushman & Wakefield’s Sunbelt Multifamily Advisory Group is a 95-person investment sales team covering 11 states with No. 1 multifamily market share in that region based on sales volume and transactions reported to CoStar. Per Cushman & Wakefield, in 2021, the group closed $13.8 billion in sales volume through 429 deals and nearly 85,000 units.