A 344-unit East Birmingham apartment complex has sold.
Forge Partners bought Sunrise Pointe from PF Holdings for an undisclosed amount. Josh Jacobs of Cushman & Wakefield represented the seller, PF Holdings.
Built in 1978, Sunrise Pointe sits along the Interstate 20 corridor near Irondale and Crestwood. The property offers immediate interstate access, and is near major retail and entertainment areas.
"This sale is the latest in a series of transactions in East Birmingham that have resulted in heavy value-add campaigns," Jacobs said. "Sunrise Pointe will be repositioned in the coming season, as new ownership has big plans for rebranding and renovating the property, which will benefit the surrounding community as well."
Cushman & Wakefield's Southeast Multifamily Advisory group last year closed $4.8 billion in sales volume through 268 deals and more than 55,000 units.