A Nashville investor has bought a 96-unit apartment complex in Homewood for $3.1 million.
Highland Homewood Investments bought Oxmoor Ridge Apartments at on Edgecrest Drive, representing the group’s first in Alabama. The group has plans to renovate the exterior and interior of the property.
New Lexington Properties II of Tuscaloosa sold the complex, which was built in 1972.
Justin Uffinger with Birmingham’s Rock Apartment Advisors facilitated the transaction.
“This property presents a great opportunity for a new owner to freshen up the property giving renters a desirable option in the Homewood area,” Uffinger said.