DLH Stonegate LLC Acquires Stonegate Apartments In Birmingham For $47.15M

Stonegate Apartments is a multifamily asset in Birmingham, Alabama, located at 101 Leaf Lake Boulevard. The 260-unit property sold for $47,150,000, or $181,346 per unit, and marks its first metro acquisition in the Birmingham market.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $47,150,000
• Buyer Entity: DLH Stonegate LLC (affiliated with Cortland-based DLH Properties)
• Buyer’s Representatives: Kendall Adams - MMG Real Estate Advisors; Thomas Skevington - MMG Real Estate Advisors; David Huey - MMG Real Estate Advisors; Zach Croake - MMG Real Estate Advisors
• Seller’s Representative: Cushman & Wakefield
• Closing Date: 08/05/2025
• Note: First metro acquisition

The deal involved key parties including DLH Stonegate LLC, affiliated with Cortland-based DLH Properties, with MMG Real Estate Advisors coordinating the buyer’s side and Cushman & Wakefield representing the seller.