Birmingham, AL – June 17, 2021— Berkadia announced today the sale of The Point at Oak Mountain, a 315-unit Class B multifamily property in Birmingham, Alabama. Senior Director David Wilson, Associate Director Caleb Frizzell and Director Steve Nunnelley of Berkadia Alabama arranged the sale on behalf of the seller, Waypoint Residential. Waypoint acquired the property in 2015 in a Berkadia-brokered transaction.
“The buyer, a value-add fund managed by Boston Capital Real Estate Partners, will modernize the property through apartment home interior renovations and enhancements to common area amenities, positioning the property to compete with the newer Class A properties in the submarket,” said Wilson.
The property has been re-named Aventura Oak Mountain.
Built in 1997 at the base of Oak Mountain along the U.S. Highway 280 corridor, Aventura Oak Mountain offers an exceptional location in a highly affluent area of Birmingham.