A quintet of apartment properties in Alabama’s preeminent port city 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 in Mobile late last month. Cushman & Wakefield’s team headed by Jimmy Adams and Craig Hey brokered the deal for Colony Hills Capital, of Wilbraham, Massachusetts, which paid $98 million, or nearly $50,000 per unit, for…

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