Meadow Brook North is well located in Birmingham's premier suburban submarket of Highway 280. The acquisition is an opportunistic basis play created by the Great Recession and institutional money's reluctance to invest in smaller, suburban markets. In addition, the property was owned the past 7 or 8 years by a special servicer and an out-of-town investor. A typical SDM situation, and thus ripe and waiting for focused energy and fresh capital.
Purchase Price: $30,500,000 in November 2017
Capital Partners: Midwestern Opportunity Fund (Equity)
Hamilton State Bank & State Bank
-508,976 SF - (4) Buildings