Hendricks-Berkadia Negotiates Sale of Mountain Lodge Apartments in Vestavia Hills, Ala. for $14,225,000

BIRMINGHAM, Ala. --- Hendricks-Berkadia, one of the nation’s largest and most active multifamily investment banking and research companies, recently negotiated the sale of Mountain Lodge Apartments, a 320-unit apartment community located in Vestavia Hills, Ala. for $14.225 million. David Oakley, senior vice president of Hendricks-Berkadia Alabama office negotiated the sale representing the seller, Brookstone, LLC, Mountain Lodge Company, LLC, and Pawnee, LLC, Alabama limited liability companies, based in Birmingham. Mountain Lodge, built in 1973, has a total of 239,400 square feet of rentable living space with one-, two-, and three-bedroom apartments. The buyer was TEG Mountain Lodge, LLC, based Rockland County, New York.