Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the $10.8 million sale of The Landings Multifamily Portfolio. The two property portfolio includes Center Pointe Landings and Clay Landings, totaling 264 units located in Birmingham, Alabama.
“These sales underscore the continued investor demand for quality workforce housing in Alabama,” said Josh Jacobs, senior managing director of investments in Marcus &
Millichap’s Birmingham office. “We look forward to watching the purchaser’s business plan unfold in the coming season, as this is an experienced operator with a strong track record in the marketplace.” Jacobs represented the seller and procured the buyer.
Center Pointe Landings, located at 107 Sterling Court NW, spans 140,000 square feet and includes 140 units. The property offers a mix of one-, two- and three-bedroom floor plans averaging 936 square feet.
Clay Landings, located at 856 Park Brook Trail, totals 120,000 square feet with 124 units. The property features one- and two-bedroom apartments averaging 967 square feet.
Marcus & Millichap, Inc. (NYSE: MMI) is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of December 31, 2023, the Company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The Company also offers market research, consulting and advisory services to our clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion.
