Berkadia Closes on 88 Units in Gardendale for $4,100,000

BIRMINGHAM, Ala. --- Berkadia, one of the nation’s largest and most active multifamily investment banking and research companies, recently negotiated and financed the sale of two Gardendale apartment communities -- Gardendale Manor with 48 units for $2,200,000 and Gardendale Oaks with 40 units for $1,900,000. David Oakley, Partner, and Josh Jacobs, Associate, located in the Berkadia Alabama office, negotiated $4.1 million dollar sale of Gardendale Manor and Gardendale Oaks representing the Birmingham based Seller. A Colorado-based private equity firm purchased all 88 units. Gardendale Manor, built in 1996, is 100 percent two-bedroom units while Gardendale Oaks, built in 1986, is comprised of 25 percent one-bedroom and 75 percent two-bedroom units. Both garden-style, two-story apartment communities are located in the thriving submarket of Gardendale, Alabama and will be managed by Birmingham’s Highline Property Advisors.