Riverchase Landing, Alabama

In March 2018, Riverchase Landing Alabama was acquired as part of a joint venture between Balfour Beatty Communities, Apex One Investment Partners and Torchlight Investors—continuing the successful residential investment partnerships with the two firms.

$44 million

Total debt and equity

The 468-unit multi-family community, comprised of 26 two- and three-story buildings, is located in the desirable Hoover suburb of Birmingham, Alabama. Riverchase Landing occupies more than 45 acres at 200 River Haven Circle and is situated in a significant business zone with major corporate headquarters and offices, as well as a vibrant mix of retail, restaurants and entertainment options, all within easy access to downtown Birmingham.

Featuring one-, two- and three-bedroom floor plans averaging 1,600 square feet, the apartments offer fully equipped kitchens, walk-in closets, private patio/balcony and updated finishes. Common area amenities include a clubhouse, fitness center, pool, playground and tennis courts.

In addition to providing property management services, the Company has strategically executed a wide variety of value-add projects. Exterior renovations include upgraded equipment in the fitness center, completion of property-wide LED lighting upgrades, addition of grilling stations, Amazon Hub package management center as well as a dog park. Interior upgrades are currently in progress throughout the community and include new flooring, modern stainless steel appliances and updated countertops and fixtures.