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Strategic Holdings Sells 172-Unit Apt. Portfolio in Gadsden

Local Investor Acquires Pine Ridge, Williamsburg for $6.4M
February 28, 2018
Strategic Diversified Real Estate Holdings, a vertically integrated investment firm headquartered in Westlake Village, CA, sold two apartment complexes totaling 172 units in Gadsden, AL to Abaco Partners for $6.4 million, or approximately $37,000 per unit.

Pine Ridge Apts. at 305 W. Air Depot Rd. comprises one-, two- and three-bedroom units in 13, three-story buildings. Williamsburg comprises two-bedroom units in 10, two-story buildings at 1000 Newton St.

David Oakley and David Wilson of Berkadia Real Estate Advisors represented the seller.

The Birmingham-based buyer has retained Strategic to manage the garden-style multifamily complexes.

For more information on this transaction, please refer to CoStar COMPS #4144597.
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