Berkadia negotiates $51,000+ per unit price in sale of 94-unit TimberChase Apartments in Birmingham’s Homewood area

Birmingham, Ala. --- Berkadia, one of the nation’s largest and most active multi-family investment sales companies, recently negotiated the sale of the 94-unit Timberchase Apartments in Birmingham’s Homewood area for $4,825,000, or $51,329 per unit. Josh Jacobs, investment sales advisor at Berkadia, along with David Oakley, partner in the firm, negotiated the transaction representing the California-based seller TimberChase Alabama Apartments, LLC. RJJ TimberChase, LLC based in Alabama, acquired the property, which sits nestled between Homewood and Southside and in close proximity to major arterial roadways and economic demand drivers. Jacobs said Arlington Properties will remain as the property’s on-site management firm. Berkadia, a joint venture of Berkshire Hathaway and Leucadia National Corporation, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties.