The acquisition marks the latest in a series of over $100 MM in new investments by the firm in and around the Birmingham Metro area.
Daniel Corporation announces the acquisition of the 392 unit Grand Highlands of Mountain Brook apartment community located on Overton Road in Vestavia Hills, Alabama. The acquisition together with Daniel’s Vestavia Reserve community furthers the firms operations in the metro area and when combined with several strategic office acquisitions increases Daniel’s recent investments in Birmingham commercial properties to over $100 MM on aggregate.
“We are always looking for value enhancement opportunities across our footprint of operations but are especially excited to make new investments in our hometown of Birmingham”, commented Daniel EVP Justin Weintraub. “Our ability to acquire this irreplaceable asset on an off-market basis is a testament to the attractiveness of Daniel Corporation as an investor, partner and operator. Daniel is proud of our 54 years as a leading commercial real estate investment, development and services company in Birmingham. While we continue to make substantial investments in projects across the Southern Region, we believe in our city. We are bullish on our future and committed to being a part of great things happening here.”
The acquisition of Grand Highlands follows a series of transformative investments and developments undertaken by Daniel Corporation in the Birmingham market over the past several years. These include the award winning Lane Parke mixed use development in Mountain Brook, Patchwork Farms in Vestavia Hills and Grandview Medical Center along the 280 corridor in southern Birmingham.