Jimmy Adams and Josh Jacobs Represent Seller in Hoover, AL, Disposition

Cushman & Wakefield announced today that the firm’s Southeast Multifamily Advisory Group brokered the sale of Riverchase Landing in Hoover, Alabama, to a joint venture of ApexOne Investment Partners, Balfour Beatty Communities and Torchlight Investors.

Riverchase Landing includes 468 units built between 1984 and 1992. The asset boasts some of the submarket’s largest floor plans (1,594-square-foot average), and a proven value add initiative on 50% of the units.

“Riverchase Landing maintains an exceptional location within the Riverchase PUD in Hoover, and investors were attracted to the high level of accessibility to quality jobs and retail,” Adams said. “There are several avenues of income upside as well via operational efficiencies and continued value add on interiors.

Cushman & Wakefield’s Southeast Multifamily Advisory Group is the most active firm in the region, with the No. 1 market share based on transactions and sales volume reported to CoStar. In 2017, the group closed $4.8 billion in sales volume (a 34.6 percent year-over-year increase) through 268 deals and more than 55,000 units. For more information about Cushman & Wakefield’s Southeast Multifamily Advisory Group, visit https://multifamily.cushwake.com.

About Cushman & Wakefield

Cushman & Wakefield is a leading global real estate services firm with 45,000 employees in more than 70 countries helping occupiers and investors optimize the value of their real estate. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.