Holliday Fenoglio Fowler, L.P. (HFF) announces the closing of a joint venture equity raise for the acquisition of Grand Highlands at Mountain Brook, a 392-unit apartment community in the southeast Birmingham suburb of Vestavia Hills, Alabama.
The HFF team worked on behalf of Daniel Corporation, to arrange a joint venture equity partnership with out of town investors.
Grand Highlands at Mountain Brook is located at 3251 Overton Road near Interstate 459 and U.S. Highway 280 providing access to Birmingham’s top schools and job centers. The property offers a variety of one-, two- and three-bedroom units averaging 1,002 square feet with modern amenities such as stainless steel appliances, granite countertops, walk-in closets and faux-wood flooring. Community amenities include two resort-style pools with poolside cabanas, two tennis courts, two outdoor grilling stations, a playground, 24-hour fitness center, clubhouse, business center and dog park.
The HFF equity placement team representing Daniel Corporation included managing director Jeremy Sain.
About Daniel Corporation
Founded in 1964, Daniel Corporation (www.danielcorp.com) is an innovative, full-service real estate organization engaged in development, investment and management of office, multifamily, master-planned residential, retail, urban mixed-use, hospitality, medical and senior living properties. Headquartered in Birmingham, Alabama, with a regional office in Atlanta, Georgia, the firm currently focuses on markets in the Southeast and Mid-Atlantic states. Daniel’s broad range of real estate experience and fiduciary tradition enables the company to respond with the flexibility and timeliness demanded by the real estate industry.
HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.