Berkadia negotiates investment sale of 88 Unit Apartment community north of Birmingham

Birmingham /Hanceville, Ala. – Berkadia, one of the nation’s largest and most active multifamily investment sales companies, recently negotiated the sale of Pavillion Apartments, an 88-unit apartment community at 401 College Drive, N.E. in Hanceville, 45 minutes north of Birmingham.

Josh Jacobs, investment sales associate at Berkadia along with David Oakley, managing director, negotiated the transaction representing the California-based seller Cypress Axiomm Capital.

Jacobs said the apartments, built in 1996, sit one block from Wallace State Community College, which has been a staple of the community for five decades and recently underwent renovations and expansion.

The Thrash Group, based in Mississippi, purchased the property for an undisclosed price. 

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.