Berkadia Closes Sale of Mississippi Community
- Apr 15, 2020
Berkadia has brokered the sale of The Sound at St. Martin Apartments, a 181-unit community in Biloxi, Miss.
Senior Managing Director David Oakley, Senior Director David Wilson and Associate Director Jay Briley, together with Managing Director Gregg Cordaro, negotiated the deal on behalf of seller Aspen Square Management. Legacy Partners acquired and plans to further upgrade the recently renovated property.
Situated at 14801 Lemoyne Blvd., The Sound at St. Martin consists of three-story buildings with one- and two-bedroom floorplans averaging 915 square feet. Fully renovated units have stainless-steel appliances, modern countertops and NEST thermostats. Common-area amenities include a swimming pool, fitness center and dog park.
The property is some 6 miles northeast of downtown Biloxi, near interstates 10 and 110. There are a great number of shops and restaurants roughly one mile east of the community, alongside Washington Avenue.
In September, a Berkadia team including Oakley and Wilson arranged the sale of a 332-unit community in Montgomery, Ala. B & M Management Co. purchased the 2008-built asset.