September 20, 2017 Comments Off on Alabama MF Acquired for $40M Views: 1119 Alabama, National News, Southeast

Alabama MF Acquired for $40M

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Coastal Ridge Real Estate, in partnership with M Group, acquired The Village at Lakeshore Crossings in Birmingham, AL from a Philadelphia-based private investor for $40 million. The 264-unit, Class A apartment community, located on 19 acres at 251 London Parkway, is the Columbus, OH firm’s first acquisition in Alabama and seventh acquisition in partnership with Birmingham, MI-based M Group.

Coastal Ridge Real Estate’s Patrick McBride says, “We will look to grow our portfolio in Alabama and other key Southeast markets through acquisitions and third-party property management assignments.”

Built in 2013, The Village at Lakeshore Crossings offers 84 one-bedroom/one-bathroom units, 132 two-bedroom/two-bathroom units and 48 three-bedroom/two bathroom units. The community features a resort-style pool, outdoor kitchen, outdoor fireplace and lounge area, clubhouse, media room, fitness room, business center, hammock lounges, pet park, pet wash and walking trails.

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