3800 Galleria Woods Drive - Renaissance At Galleria Woods, Birmingham, AL

Built in 1993, The Renaissance at Galleria in Hoover, Alabama offers two-stories of apartment living situated on well-landscaped grounds and includes a mix of one-, two-, and three-bedroom apartment homes totaling 260,720 rentable square feet. The community consists of 244 units averaging a spacious 1,069 square feet with 104 one-bedroom units (790 and 850 square feet), 104 two-bedroom units (1,200 square feet), and 36 three-bedroom units (1,400 square feet).

Residents of The Renaissance at Galleria enjoy community amenities such as a resident clubhouse, clothes-care center, lighted tennis courts, fitness center, children’s playground, swimming pool and sauna, additional storage space, basketball court, resident lounge, and a package receiving service. Apartment homes feature central heating and air, washer/dryer connections, ceiling fans, wood-burning fireplaces, spacious closets, vaulted ceilings, and kitchens equipped with refrigerators with ice maker, dishwashers, stoves/ovens, and garbage disposals.

Sale Notes:
Hendricks & Partners is pleased to present The
Renaissance at Galleria, a 244-unit apartment
community located in the upscale Hoover
submarket of Birmingham, Alabama. The
Renaissance at Galleria represents the opportunity
to acquire a well-positioned 1990’s vintage
multifamily property ideally situated in a prime,
affluent, in-fill location convenient to all of
Birmingham metro. This Class A Asset is also
being marketed as part of a lender-controlled
five-property portfolio, either on an individual
basis or as a portfolio, which would offer investors
economy of scale. Additionally, The Renaissance
at Galleria (as well as the portfolio as a whole) is
being offered on an all cash basis allowing
investors the opportunity to take advantage of
today's historically low interest rate
environment and lock in attractive permanent
financing in the near term. Investors seeking a
light reposition deal with robust upside
potential will find The Renaissance at Galleria an
attractive opportunity.
Many comparable properties in the area are
currently undergoing or have recently undergone
significant renovations, boosting market rents in
the nearby area. More importantly, the market has
responded well to the increased rents while
comparable properties have maintained
occupancies above 90%.