A luxury apartment community in Birmingham has traded hands in one of the biggest multifamily deals of the year. Brick Lane and its affiliate acquired the 722-unit Valora at Homewood for $82 million, or almost $115,000 a unit, according to Jefferson County public records.
Brick Lane is a real estate development and investment firm based in Washington, DC with a portfolio of more than 2 million square feet of apartment and mixed-use projects in DC, Virginia, Maryland and South Carolina.
“Brick Lane and our partner, Prospect Capital, are very excited for our first investment in the Birmingham/Homewood market and look to add to this acquisition in Alabama in the future,” said Gib Hale, Vice President of Acquisitions for Brick Lane. “We thank Lurin Capital and Berkadia for a smooth transaction.”
