BIRMINGHAM, July 25, 2016 – Cushman & Wakefield’s Birmingham Multifamily Investment Sales team has arranged the sale of Somerset Place and Woodridge in Jackson, Miss., on behalf of New York State-based White Eagle Property Group.
Cushman & Wakefield’s Jimmy Adams and Craig Hey represented White Eagle in the disposition of Woodridge and Somerset Place, which together total 336 multifamily units.
“The buyer was able to acquire two high-yielding assets in Jackson from a great operator,” Hey said. “The buyer liked the cash flow, locations, product and upside. It is exciting to continue to see out-of-state investment in the Jackson area.”
“This transaction is a confirmation that Jackson is getting more attention due to high pressure in primary markets,” Adams said. “It bolsters our belief in the future of the Jackson multifamily market. Investors are expanding their geographic interest to include cities that were previously outside of their focus.”
About White Eagle Property Group
As a buyer, White Eagle acquires quality multifamily dwellings at or below market value, identified through a well-established network of brokers, property managers and consultants. Currently, White Eagle owns and operates a portfolio of over 7,000 rental units. To learn more, visit http://www.whiteeaglegroup.com.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors and occupiers optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter