Hendricks & Partners Negotiates Note Sale of Five-Property Portfolio in Birmingham for $66,500,000

BIRMINGHAM, Ala. --- Hendricks & Partners, one of the nation’s largest and most active multifamily investment banking and research companies, recently negotiated the note sale of the Park Lane Portfolio, a 1,900 unit, five-property portfolio located in Birmingham for $66.5 million.

David Oakley, senior investment advisor of Hendricks & Partners’ Alabama office negotiated the sale representing the seller, Duesseldorfer Hypothekenbank AG and Deutsche Hypothekenbank (Actien-Gesellschaft) of Germany.

The Park Lane Portfolio consists of five properties:
The Overlook at Homewood – 742 Units
The Renaissance at Galleria – 244 Units
The Place at Galleria – 150 Units
The Park at Galleria – 431 Units
The Cliffs at Rock Ridge – 333 Units

The buyer was CLK Longview Acquisition based in New York.