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Arcan Capital Acquires Tapestry Park Apartments In Birmingham For $70.8 Million

Property Image
SOLD
$70,800,000
Andrew Brown
Craig Hey

Alabama

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MultiFamily949,793 SF
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Property Image
SOLD

Arcan Capital Acquires Tapestry Park Apartments In Birmingham For $70.8 Million

801 Montclair Road

See Similar Deals
MultiFamily949,793 SF
Sold 07/17/2024
Andrew Brown
Craig Hey
the dealplayerscompscontact
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Summary

ALABAMA
Asset Type:MultiFamily
Price Per Square Foot:$74
Total Square Footage:949,793 SF
Transaction Type:Sale

The transaction involved the sale of Tapestry Park Apartments located at 801 Montclair Road in Birmingham, AL. The multi-family property consists of nine apartment buildings with a total of 949,793 square feet. The transaction was completed for a price of $70,800,000, translating to a price per square foot of $75.

Summary of transaction details:

  • Property Type: Multi-family
  • Transaction Amount: $70,800,000
  • Sale Date: 07/17/2024
  • Buyer: Arcan Capital
  • Seller: SIR Tapestry Park LLC
  • Broker Representatives: Andrew Brown & Craig Hey - Cushman & Wakefield

SIR Tapestry Park LLC, previously associated with Steadfast Income Real Estate Investment Trust Inc., was the seller in this transaction. The brokers involved, Andrew Brown and Craig Hey from Cushman & Wakefield, facilitated the deal between the buyer and seller.

Players

Craig Hey
Cushman & Wakefield
Craig Hey
8 deals$404.2M volume
BROKER
Andrew Brown
Cushman & Wakefield
Andrew Brown
8 deals$409.2M volume
BROKER

Details

SOLD
IMAGE: 07/17/2024 ADDRESS: 801 Montclair Road MARKET: Birmingham, AL ASSET TYPE: Multi\family BUYER: Arcan Capital SELLER: SIR Tapestry Park LLC BROKERS: Andrew Brown & Craig Hey - Cushman & Wakefield SALE PRICE: $70,800,000 SF: 949,793 ~ PPSF: $75 NOTE: Tapestry Park Apartments in Birmingham sold for $70.8 million to Arcan Capital. The 949,793-square-foot property includes nine apartment buildings and was previously owned by SIR Tapestry Park LLC, associated with Steadfast Income Real Estate Investment Trust Inc.

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