Cushman & Wakefield has arranged the $18.75 million sale of Village at Grants Mill, a 200-unit apartment community located in Birmingham, Alabama. Jimmy Adams and Craig Hey of Cushman & Wakefield represented the seller, LMS Real Estate, in the transaction. An East Coast private capital buyer acquired the property.
“The Irondale rental market has been a high-demand location for renters seeking quick access to retail and downtown,” Adams said. “The asset offered a top-class amenity package compared to the competition, paired with a highly accessible location. Investors spotted a great opportunity to acquire a fully renovated asset in an up-trending submarket with organic rent growth potential.”
Village at Grants Mill consists of 200 units built in 1985 and fully renovated in 2017. The property was purchased during lease-up.