AL Community Changes Hands
- Mar 18, 2019
California-based Core Pacific Advisors has purchased the 376-unit Barrington Place at Somerset in Montgomery, Ala. Colliers International East Region Multifamily Advisory Group represented both parties in the transaction. The seller was an Alabama-based developer.
Located at 280 New Haven Blvd., the property was built in 2002 and offers one-, two- and three-bedroom apartments. Community amenities include two fitness centers, two swimming pools, a 16-seat movie theater, a playground and a jogging trail. The asset is almost 2 miles from Auburn University at Montgomery and less than 4 miles from The Shoppes at Eastchase, a 1.4 million-square-foot shopping center with plenty of retail and entertainment venues such as Whole Foods, Target and Sporting Goods.
“This being our seventh transaction with Core Pacific Advisors, in six different state, validates our ability to bring low cost of capital buyers to any market,” said Will Mathews, managing director & platform leader of Colliers International East Region Multifamily Advisory Group, in a prepared statement.
Mathews, Associates Carter Brehm and Austin Weathington were part of the Colliers team that brokered the transaction. Recently, the company handled the $70 million sale of the 460-unit Laguna Village in Chandler, Ariz.
Image via Google Street View