Cushman & Wakefield Arranges $93.53M Sale for Texas-based Real Estate Firm

Three Birmingham, Alabama, Properties Total 1,816 Units

BIRMINGHAM, Ala.–(BUSINESS WIRE)–Cushman & Wakefield (NYSE: CWK) has arranged the $93.53 million sale of
three multifamily properties in Birmingham, Alabama, totaling 1,816
units. Josh Jacobs and Jimmy Adams of Cushman & Wakefield represented
the seller, a Texas-based real estate firm, in the transaction, which is
the largest in the Birmingham market in the last five years. Contour
Development acquired the properties.

“The more than 1,800-unit package represented the rare opportunity to
establish a major foothold as a large-scale portfolio owner within the
Birmingham rental market,” Jacobs said. “The offering generated
significant interest on a national and even international level. New
ownership offers an impressive track record in multifamily
revitalizations across the U.S., and we are extremely excited to see
their value-add programs take shape at each property.”

The Park at Buckingham, located in Homewood, was built in 1972 and
includes 583 units. Amenities include lighted championship size tennis
courts, a sand volleyball court, two pools with sun decks and a theater
room. The Park at Callington and Carlyle encompasses a total of 1,233
units built in 1978 and 1973. Amenities include lighted tennis courts,
three pools with sun decks, a volleyball court and a fitness center.
Each asset maintains an excellent location with connectivity to Homewood
and to Downtown Birmingham’s employment drivers.

Cushman & Wakefield’s Southeast Multifamily Advisory Group ranked No. 1
in market share in 2018 based on closed transactions, totaling over $4.5
billion in sales volume, according to Real Capital Analytics. For more
information about Cushman & Wakefield’s Southeast Multifamily Advisory
Group, 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 51,000 employees in 400 offices and 70
countries. In 2018, the firm had revenue of $8.2 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.

Source: Cushman & Wakefield

Contacts

For Further Information Contact:
Savannah Durban
Communications
Specialist
+1 404 853 5371
savannah.durban@cushwake.com

Media
Contact:
Bailey Webb
Corporate Public Relations Director
+1
404 682 3381
bailey.webb@cushwake.com