Sunrise Pointe, Birmingham, AL
BIRMINGHAM, AL—West Coast multifamily development and investment firm Forge Partners has acquired the 344-unit Sunrise Pointe apartment community here.
Brokerage firm Cushman & Wakefield reports the property was sold by Newark, NJ-based PF Holdings. Forge Partners is headquartered in Rancho Sante Fe, CA
“This sale is the latest in a series of transactions in East Birmingham that have resulted in heavy value-add campaigns,” said C&W's Josh Jacobs. “Sunrise Pointe will be repositioned in the coming season, as new ownership has big plans for rebranding and renovating the property, which will benefit the surrounding community as well.” Jacobs represented PF Holdings in the transaction.
Built in 1978, Sunrise Pointe is located in the Interstate 20 corridor near Irondale and Crestwood, which have seen significant momentum in recent years, C&W states. The property offers immediate interstate access, and is near the submarket's major retail and entertainment drivers.
No financial terms of the deal were released.
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.
John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
