Harbert Multifamily Advisors Represents Seller of The Mont Apartment Property in Vestavia Hills

Harbert Multifamily Advisors (HMA) represented the seller, Montvest Partners, LLC, on the sale of The Mont, an apartment property located in Vestavia Hills at 1861 Montclair Lane. HMA is a division of Harbert Realty Services and a privately-held multifamily advisory firm based in Birmingham, Alabama, serving the Southeast since 2003. Harbert Realty’s apartment management division, Harvest Apartment Management, has provided …

HARBERT MULTIFAMILY ADVISORS BROKERS 241-UNIT, BIRMINGHAM, AL TRANSACTION

A New York-based investment firm, Addison Partners, co-headed by Brian Schneider and Mary Stewart Malone, has purchased Elevation Hoover, a 241-unit apartment community in Hoover, AL. Mike Baker and Donald Gambril with Birmingham-based Harbert Multifamily Advisors brokered the transaction. The financial terms of the deal were not disclosed. Built in 1972, the two-story, garden-style property is located in Hoover just …

HARBERT MULTIFAMILY ADVISORS REPRESENTS SELLER IN 228-UNIT, MOBILE, AL TRANSACTION

A private investor has purchased the Cedar Trace and Eastwyck Apartments, two adjacent apartment communities totaling 228 units, in Mobile, AL. Donald Gambril with Birmingham-based Harbert Multifamily Advisors represented the Seller in the transaction. The financial terms of the deal were not disclosed. Built in 1970s, the two-story, garden-style properties will undergo capital projects to modernize both the exterior and …

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ROCK APARTMENT ADVISORS ANNOUNCES REBRAND TO HARBERT MULTIFAMILY ADVISORS

With more than 16 years of multifamily brokerage and advisory experience, Rock Apartment Advisors has announced its official name change to Harbert Multifamily Advisors (HMA). HMA remains the same longstanding privately-held multifamily brokerage firm dedicated to providing trusted results and customized services that has been serving the Southeast since 2003. This brand update better showcases the institutional resources available through …

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Harbert Multifamily Advisors Represents Seller in Southside Transaction

A local investor, Gladstone Equity Partners, has purchased Cliffview Apartments, a 14-unit apartment community in the Southside area of Birmingham, AL. Micah Dodd with Harbert Multifamily Advisors brokered the transaction. The financial terms of the deal were not disclosed. Built in 1967, Cliffview will undergo capital projects to modernize the exterior and interior of the property. As businesses and residents …

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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 …

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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 …

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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 …

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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 …