Berkadia Closes on 825 Units in Hoover for $63,347,000

BIRMINGHAM, Ala. --- Berkadia, one of the nation’s largest and most active multifamily investment banking and research companies, recently negotiated the sale of the Hoover 3 Portfolio, an 825-unit portfolio comprised of three properties -- Park at Galleria, Place at Galleria, and Renaissance at Galleria -- that are all located in Hoover for $63,347,000 or $76,784.24 per unit. David Oakley, partner, David Etchison, senior vice president, and Royce Emerson, senior vice president, based in the Berkadia Alabama office, negotiated the sale of the Hoover 3 Portfolio representing the seller, CLK Properties. With a mixture of Class "A" and Class "B" communities, these properties possess outstanding location fundamentals with a complementing blend of early 2000s, mid-1990s, and redeveloped 1970s product. The buyer was Intercapital Partners Ltd. based in Chicago, IL. A selection of photos are available at - https://www.dropbox.com/sh/8mobj2h3mh7e3oi/AADgCpE6NC0X0aXQ50BX6miga?dl=0