March 19, 2020
Cushman & Wakefield has arranged the $27.9 million sale of Arlington Park, a 252-unit apartment community in Mobile, AL. Craig Hey and Andrew Brown of Cushman & Wakefield represented the seller, PEM Real Estate Group, in the transaction. Dallas-based Saxony Capital Management acquired the property.
Built in 2001, the community is located nearby state-ranked schools, retail and major employment centers. Amenities include a saltwater pool, outdoor kitchen, game room, car care center, fitness center and a dog park.
“West Mobile is home to numerous employment offerings, and has only had one multifamily property delivered since 2014, which is driving heavy demand for more premium rental options,” said Hey. “The new owners of Arlington Park are excited at the prospect of taking advantage of the quality floor plans through the implementation of a value-add program.”
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