A quintet of Alabama apartment properties has fetched $134.3 million.

Spruce Capital Partners, of New York, and Post Road Group, of Stamford, Connecticut, acquired the five property, 1,972-unit portfolio late last month. Cushman & Wakefield’s team headed by Jimmy Adams and Craig Hey brokered the deal for the seller, Colony Hills Capital, of Wilbraham, Massachusetts.

At a sales price of about $68,000 per unit, the Spruce-Post Road partnership…

Article From: "Key Realty Commercial Real Estate News"   Read full article