Birmingham, AL – In November of 2013, Rock Apartment Advisors, a subsidiary of Harbert Realty Services, completed

the sale of two apartment communities with a combined value of $32,250,000 and 776 units in Birmingham, Alabama and Jackson, MS.

Built in 1976, the Crossings at Ridgewood (432 units) is located on Ridgewood Road in northeast Jackson, one mile north of some of Jackson’s most exclusive boutique retail shopping. Crossings at Ridgewood was sold by a Mississippi based owner to a private REIT for $23,000,000 or $53,240 per unit. The brokerage team included Bo Flurry with Rock Apartment Advisors and Blake Pera with CBRE Memphis who represented the seller, Heritage Properties in the transaction.

Sunrise Pointe is a 344-unit property, built in 1980 and located in East Birmingham, near Crestwood Boulevard. Currently, a large amount of commercial redevelopment is underway at the Crestwood Festival Center and the submarket has seen widespread improvement in market fundamentals. Sunrise Pointe was sold by East Ridge Associates to a New York based investor for $9,250,000 or $26,890 per unit. Bo Flurry with Rock represented the seller in the transaction.

Rock Apartment Advisors is a Birmingham-based commercial real estate firm with an exclusive focus on apartment brokerage services throughout the Southeast. Its talented team has extensive real estate experience in the apartment sector including appraisal and consulting, brokerage, property marketing, transaction management and ownership.

Rock has developed a reputation for providing quality Rock has developed a reputation for providing quality its start in 2003, Rock has brokered over $1.8 billion in apartment transactions. For more information on current multi-family opportunities or the 2013 Rock Apartment Survey, visit their website at www.rockadvisors.com or contact them at 205.397.2200.