Cushman & Wakefield has arranged the $27.95 million sale of Arlington Park, a 252-unit apartment community located in Mobile, Alabama. Craig Hey and Andrew Brown of Cushman & Wakefield represented the seller, PEM Real Estate Group, in the transaction. Saxony Capital Management, a Dallas, TX based company, acquired the property.

“West Mobile is home to numerous employment offerings and has only had one multifamily property delivered since 2014, which is driving heavy demand for more premium rental options,” Hey said.“The new owners of Arlington Park are excited at the prospect of taking advantage of the quality floor plans through the implementation of a value-add program.”

Arlington Park, built in 2001, is situated in a highly sought-after submarket that features state-ranked schools, quality retail and major employment drivers. Amenities include a salt water pool, outdoor kitchen, game room, car care center, fitness center and a dog park.

Cushman & Wakefield’s Sunbelt Multifamily Advisory Group ranks No. 1 in Sunbelt market share based on over 300 transactions and $7.0 billion in multifamily and land investment sales in 2019 (Source: Real Capital Analytics www.rcanalytics.com). Market share reflects sales for Alabama, Arkansas, Northwest Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Texas. For more information, visit https://multifamily.cushwake.com.

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 53,000 employees in 400 offices and 60 countries. In 2019, the firm had revenue of $8.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.