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Morrison Avenue Capital Partners Acquires Timberchase Apts. in Birmingham

Trade Winds Real Estate Sells 94-Unit Complex for $5.4M
December 15, 2017
Morrison Avenue Capital Partners, specializing in multifamily real estate investment, ownership and advisory work, acquired the 87,554-square-foot multifamily complex in Birmingham, AL from Trade Winds Real Estate for $5.43 million, or approximately $58,000 per unit.

The 94-unit Timberchase apartment community delivered to the Homewood MF submarket in 1973 and consists of one-, two- and three-bedroom units in four two-story buildings. The asset covers nearly five acres and lies within close proximity to Red Mountain Plaza and the Palisades Shopping Center.

“Capital continues to flock to Birmingham, and Timberchase is in a prime position for growth within the Valley Avenue Corridor - a rejuvenating area with strong rent momentum,” Josh Jacobs of Cushman & Wakefield said. “We are excited to see what new ownership has in store for the asset as they plan to continue strengthening value in the coming season.”

Josh Jacobs and Jimmy Adams of Cushman & Wakefield represented the seller.

Please see CoStar COMPS #4071709 for more information on this transaction.
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