Crossings At PinebrookMOBILE, ALA–Wilbraham, Mass.-based Colony Hills Capital has sold a 2000+ unit apartment portfolio for $134.3 million. The buyers of the five properties, which are all based in Mobile, are Post Road Group and Spruce Capital Partners.
Jimmy Adams and Craig Hey of Cushman & Wakefield represented Colony Hills Capital in the transaction.
The properties include Crossings at Pinebrook, The Pathways, Sandpiper, Windsor Place and Yester Oaks. With access along the Airport and Government Boulevard Corridors, the portfolio is near retail and job drivers. The assets were built between 1951 and 1982, and 52% of the unit mix offers a townhome layout.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
