The Villa Apartments

26 units, Birmingham, AL

Acquisition Date: July 7, 2005
Status: Sold on May 31, 2007

The Villa Apartments is located within a desirable urban neighborhood of Birmingham known as Highland Park. Clarus targeted this asset for acquisition due to its strategic location in a neighborhood that was undergoing upscale redevelopment and condominium conversions that were serving both to increase the value of real estate in that location and remove supply of apartment of competing apartment units from the sub-market.

A strong southeastern market, Birmingham is still of interest to Clarus even though we no longer manage assets in the city. We continue to monitor the market and we actively seek projects in the region.