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'''The Park at Alloa Apartments''' (formerly '''Town Park Apartment Homes''') is a 270-unit apartment complex located on [[Crest Green Road]] and [[Crest Valley Way]] off of [[Crestwood Boulevard]] in [[Birmingham]]'s [[Oak Ridge Park]] neighborhood. | '''The Park at Alloa Apartments''' (formerly '''Crestwood Villa Apartments''', '''Century Valley Apartments''', '''Crestwood Crossings''', and '''Town Park Apartment Homes''') is a 270-unit apartment complex located on [[Crest Green Road]] and [[Crest Valley Way]] off of [[Crestwood Boulevard]] in [[Birmingham]]'s [[Oak Ridge Park]] neighborhood. | ||
The complex, which was constructed in [[1980]], was sold to an affiliate of [[MDIC Management]] in January [[2008]] for $6.9 million. The new owners planned a $4 million renovation project. | |||
Blue Rock Partners of Tampa, Florida acquired the complex in [[2015]] for $15 million and rebranded it as "The Park at Alloa" and undertook a renovation project to upgrade finishes and amenities. They sold it to an affiliate of Peak Capital Partners of Provo, Utah in [[2019]] for $21 million. | Blue Rock Partners of Tampa, Florida acquired the complex in [[2015]] for $15 million and rebranded it as "The Park at Alloa" and undertook a renovation project to upgrade finishes and amenities. They sold it to an affiliate of Peak Capital Partners of Provo, Utah in [[2019]] for $21 million. | ||
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==References== | ==References== | ||
* "Irondale complex sold, renovations planned." (January 11, 2008) {{BBJ}} | |||
* Van der Bijl, Hanno (October 17, 2019) "Crestwood multifamily property sells for $21M." {{BBJ}} | * Van der Bijl, Hanno (October 17, 2019) "Crestwood multifamily property sells for $21M." {{BBJ}} | ||
[[Category: | [[Category:Apartment complexes]] | ||
[[Category:Crest Valley Way]] | [[Category:Crest Valley Way]] | ||
[[Category:1980 | [[Category:1980 buildings]] | ||
Revision as of 16:55, 17 October 2019
The Park at Alloa Apartments (formerly Crestwood Villa Apartments, Century Valley Apartments, Crestwood Crossings, and Town Park Apartment Homes) is a 270-unit apartment complex located on Crest Green Road and Crest Valley Way off of Crestwood Boulevard in Birmingham's Oak Ridge Park neighborhood.
The complex, which was constructed in 1980, was sold to an affiliate of MDIC Management in January 2008 for $6.9 million. The new owners planned a $4 million renovation project.
Blue Rock Partners of Tampa, Florida acquired the complex in 2015 for $15 million and rebranded it as "The Park at Alloa" and undertook a renovation project to upgrade finishes and amenities. They sold it to an affiliate of Peak Capital Partners of Provo, Utah in 2019 for $21 million.
In September 2016 a 23-year-old male was shot to death during a robbery at the complex.
References
- "Irondale complex sold, renovations planned." (January 11, 2008) Birmingham Business Journal
- Van der Bijl, Hanno (October 17, 2019) "Crestwood multifamily property sells for $21M." Birmingham Business Journal