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CLK, Coolidge Sell 120-Unit Plantation Apts.

Mobile Multifamily Complex Sells for $5.75 Million
February 9, 2018
CLK Properties, along with Coolidge Equities, sold the 120-unit Plantation apartment complex in Mobile, AL to NJ-based Schorr Investments for $5.75 million, or approximately $48,000 per unit.

Plantation delivered in 1977 at 5725 Old Pascagoula Rd. The apartment complex, managed by Foshee-Plantation, comprises one- and two-bedroom units ranging from 577 to 822 square feet in nine, two-story buildings.

Josh Jacobs and Andrew Brown of Cushman & Wakefield represented the NY-based sellers in the transaction.

“Plantation was highly sought-after by investors, as its Interstate 10 location will make it a direct beneficiary of the upcoming Walmart and Amazon industrial projects,” Jacobs said.

Please refer to CoStar COMPS #4123068 for more information on this transaction.
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