Lane Parke Apartments

Mountain Brook, AL

Acquired May 2016

At a Glance

The property is located in the affluent Birmingham suburb of Mountain Brook, AL, which is among the top 5% most wealthy in the nation.

Investment Rationale

  • The property is part of a 28 acre mixed-used development featuring walkable amenities as high-end shopping, multiple restaurants, a gourmet grocery store and a Marriott luxury hotel.

  • Spacious units with high quality finishes cater to the upscale demographics. Amenities include an outdoor terrace, fitness center, swimming pool, clubhouse with a demonstration kitchen, outdoor fireplaces and grilling stations.

  • Residents have access to a highly desirable school system which has attained LaSalle Research’s Gold Level, with a high school rated A+ in 2017 by Niche.

  • Property fits well within apartment strategy given its desirable location with an affluent tenant base, top schools and high barriers to entry.

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Lane Maps3