Cushman & Wakefield has arranged the sale of Sunrise Pointe, a 344-unit apartment community located in Birmingham, Alabama. Josh Jacobs of Cushman & Wakefield represented the seller, PF Holdings, in the transaction. Forge Partners acquired the property.
“This sale is the latest in a series of transactions in East Birmingham that have resulted in heavy value-add campaigns,” Jacobs said. “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.”
Built in 1978, Sunrise Pointe sits along the Interstate 20 corridor near Irondale and Crestwood, which have seen significant momentum in recent years. The property offers immediate interstate access, and is near the submarket’s major retail and entertainment drivers.