Ballast Rock Capital Acquires Stone Ridge Apartments In Birmingham Alabama For $23.7M

The transaction involved the sale of Stone Ridge Apartments, a multifamily asset located at 500 Palisades Dr in Birmingham, AL. The sale price was $23,700,000, covering 176 units across a total square footage of 304,293. The price per unit amounted to $134,659, while the price per square foot stood at $78.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $23,700,000
• Units: 176
• Total Square Footage: 304,293
• Price Per Unit: $134,659
• Price Per Square Foot: $78
• Buyer: Ballast Rock Capital
• Seller: Two Waters Capital Management
• Brokers: Jacob Vogel, David Wildes & Steve David - Rosewood Realty Group

This transaction involved notable parties including Ballast Rock Capital as the buyer and Two Waters Capital Management as the seller. The deal was facilitated by brokers Jacob Vogel, David Wildes, and Steve David, who are associated with Rosewood Realty Group, highlighting their role in bringing the transaction to fruition.