Mike Baker joins Birmingham-based Rock Apartment Advisors as Managing Director. Previously with Capstone Collegiate Communities, Baker was responsible for identifying and executing on student housing development opportunities across the US and Canada. He was involved in over $300 million in new developments over the last four years and has experience in low, mid and high-rise products. Prior to Capstone, Baker …
Birmingham Metro Area Saw Nearly $1 Billion in Investment in 2018
The seven counties of the Birmingham metro area saw almost $1 billion in capital investment this year and more than 1,000 more jobs added than had been anticipated. That’s according to Birmingham Business Alliance President and CEO Brian Hilson, who spoke Monday at the BBA’s annual Chairman’s Meeting at Alys Stephens Center. Birmingham Mayor Randall Woodfin echoed the comments, saying the …
Much of Birmingham, Alabama Designated an Opportunity Zone
Opportunity Zones have been a hot topic among both community leaders and investors. However, with all of the discussion they are creating, not much is known about them, and the long-term benefits have yet to be determined. Opportunity Zones were set up less than a year ago. Quietly tucked into the Tax Cuts and Jobs Act of 2017, these areas …
Sales of Likely Opportunity Zone Properties Climb 8 Percent Over Last Year
Investors pumped $2.6 billion more into properties covered by the federal Opportunity Zone tax incentive initiative — an 8 percent increase from the same time last year — even before the Treasury Department released guidelines on the program. Almost 40,000 properties in the nation’s more than 8,760 zones have sold this year, according to CoStar data. More than 51,400 properties …
Rock Apartment Advisors Earns Costar Power Broker Award
Rock Apartment Advisors was awarded a Costar Power Broker Award for Sales Transactions. Every year CoStar Power Broker Awards celebrates the top CRE firms and brokers like you in the United States and Canada. Over the past 18 years, CoStar has recognized the industry leaders for their success in the commercial real estate market. Congratulations to the Rock Team on …
Rock Apartment Advisors Represents Seller in $4 Million Transaction
Arch Companies, a New York based real estate investor has purchased the Meadowbrook apartments, a 60 unit apartment property in Foley, AL. Donald Gambril and Micah Dodd with Birmingham based Rock Apartment Advisors represented the seller, also based in New York, in the deal. The purchase price was $4,000,000, or $66,667 per unit. The property consists of two and three-bedroom …
Facebook Plans $750M Data Center in Alabama
Another global brand is coming on the way to Huntsville. Facebook has unveiled plans to build a 970,000-square-foot data center in Huntsville. It’s a $750 million project that will create 100 jobs. The facility, which will be in North Huntsville Industrial Park, is expected to open in 2020. Local officials previously approved the purchase of 340 acres in the park …
Rock Apartment Advisors and Harbert Realty Services Represent Seller in $9.55M Transaction
A Washington D.C.-based investor has purchased Avenues on 61st Luxury Apartments, a 128-bed apartment community in Savannah, GA. Micah Dodd and Donald Gambril with Birmingham-based Rock Apartment Advisors, along with Casey Howard, Vice President with Harbert Realty Services, represented the Seller, based in Jacksonville, Florida, in the transaction. The property sold for $9,550,000, or $74,609 per bed. The property consists of …
Production Ramp-Up at Airbus Alabama Factory Could Add 600 Jobs
On Tuesday at Airbus’ Mobile facility, high-ranking executives of Airbus and Bombardier gave the first detailed briefing on their plans for a production ramp-up that would bring the C Series to Alabama. For that to happen, though, antitrust regulators must give their approval for Canada-based Bombardier to produce the aircraft in Alabama. “As soon as we get that done, we’re going to break ground …
January Brings Surge In Apartment Starts
WASHINGTON, DC—Amid a general rise in residential construction activity last month, multifamily starts posted especially strong gains, according to federal data released Friday. Apartment starts were up 23.7% in January from the previous month to a seasonally adjusted annual rate of 449,000 units, while single-family starts were up 3.7%. Overall, housing starts rose 9.7% from December to an SAAR of …