Carter Multifamily Acquires 252-Unit Multifamily Property In Mobile, AL For $35.6M

7070 Grelot Rd in Mobile, AL has been sold in a multifamily property transaction. The property consists of 252 units, with a price per unit (PPU) of $141,270. The deal was closed on 11/30/2022 for a total sale price of $35,600,000. The buyer, Carter Multifamily, acquired the property from Saxony Capital Management.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $35,600,000
• Units: 252
• PPU: $141,270

The deal was facilitated by the brokers Andrew Brown and Ben Thomas from Cushman & Wakefield. They represented both the buyer, Carter Multifamily, and the seller, Saxony Capital Management, in this transaction.