BIRMINGHAM, Alabama -- Massachusetts-based Colony Hills Capital said today it has purchased Riverchase Landing, a garden-style apartment community on 45 acres in Hoover, for $28 million.
"It is a momentous occasion for us to report the successful closing on our first property as a significant acquisition," Glenn Hanson, principal director and founder of Colony Hills, said in a statement. "Riverchase Landing is a wonderful community that is well located, and it holds tremendous promise for our investors."
Riverchase Landing has 468 units and is 98 percent occupied.
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