Cushman & Wakefield has arranged the $5.54 million sale of Serenity Apartments at Fairfield and Serenity Apartments on Valley Creek, two apartment communities totaling 168 units located in Birmingham, Alabama. Josh Jacobs and Craig Hey of Cushman & Wakefield represented the seller, Elevation Financial Group, in the transaction. Warrior Equity Group, LLC acquired the properties.
“These assets arrived to market heavily capitalized with upward income trajectory and proven value-add demand,” Jacobs said. “New ownership was able to acquire the pair at an attractive basis and plans to expand upon the in-place value-add campaigns.”
Serenity at Fairfield consists of 64 units, built in 1974, and Serenity on Valley Creek consists of 104 units, constructed in 1967 and 1970. Situated along West Birmingham’s Interstate 20 corridor, the properties offer close proximity to quality retail and easy access to Downtown.
Cushman & Wakefield’s Sunbelt Multifamily Advisory Group ranks No. 1 in Sunbelt market share based on more than $4.8 billion in multifamily investment sales through the third quarter (Source: Real Capital Analytics). Market share reflects sales for Alabama, Arkansas, Northwest Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Texas.
