Cushman & Wakefield has arranged the $20.5 million sale of Park West, a 278-unit apartment community located in Mobile, Alabama. Craig Hey and Andrew Brown of Cushman & Wakefield represented the seller, Legacy Capital Partners, in the transaction. Two Waters Capital Management acquired the property.

“West Mobile continues to draw investor interest driven by its strong fundamentals including healthy occupancy and rent growth metrics,” Hey said. “The new owners were attracted to the submarket and are excited to make improvements to the property through the initiation of a value-add campaign.”

Park West, built in 1977, includes two resort-style swimming pools with sundecks, a 24-hour fitness center, a courtyard picnic and barbecue pavilion, and a playground.

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.