Berkadia announced today the sale of The Point at Oak Mountain, a 315-unit Class B multifamily property in Birmingham, Alabama. Senior Director David Wilson, Associate Director Caleb Frizzell and Director Steve Nunnelley of Berkadia Alabama arranged the sale on behalf of the seller, Waypoint Residential.Waypoint acquired the property in 2015 in a Berkadia-brokered transaction.
“The buyer, a value-add fund managed by Boston Capital Real Estate Partners, will modernize the propertythroughapartment home interior renovations and enhancementsto common area amenities, positioning the property to compete with the newer Class A properties in the submarket,” said Wilson.
The property has been re-named Aventura Oak Mountain.
Built in 1997at the base of Oak Mountain along the U.S. Highway 280 corridor, Aventura Oak Mountain offers an exceptional location in a highly affluent area of Birmingham.
Property photos available upon request.
About Berkadia:
Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets. To learn more about Berkadia, please visit www.berkadia.com.
