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7/25/2012 - Hoover's Cedarbrook Apartments sell in deal valued at nearly $17 million
BIRMINGHAM, Alabama -- Hendricks & Partners said it has negotiated the sale of Cedarbrook Apartments, a 320-unit apartment community in Hoover in a deal valued at $16.75 million.

David Oakley, senior investment adviser in the firm's Birmingham office, represented the seller, Cedarbrook Apartments LLC of Birmingham.

Cedarbrook was built in 1972 and renovated in 2010 and 2011. It has 329,980 square feet of rentable living space with one-, two- and three-bedroom apartments.

The buyer was Landmark at Deerfield Glen LLC, a firm based in Florida. It was represented by Tom Hinton of Birmingham's Hinton Properties in this deal. [The Birmingham News]

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