January 6, 2021
Berkadia has arranged the sale of Valora at Homewood, a 722-unit, garden-style multifamily property in metro Birmingham’s Homewood submarket. The sales price was not disclosed.
Located at 915 Valley Ridge Drive, the 334-unit Phase I is located in the city of Homewood and was built in 1969, while the newer 388-unit Phase II was built in 1978 and located in the city of Birmingham. Valora at Homewood includes one-, two- and three-bedroom floorplans with walk-in closets and patios or balconies. Community amenities include two swimming pools with sundecks, a fitness center, a laundry facility, two tennis courts and a clubhouse.
David Oakley, David Wilson and Caleb Frizzell of Berkadia’s Birmingham office represented the seller, Dallas-based LURIN, in the transaction. The buyer was a private equity group based in the Washington, D.C. area, and it was their first Alabama acquisition.
For comments, questions or concerns, please contact David Cohen
Tags: Apartments & Multifamily