A Birmingham-based commercial real estate investment group recently sold a multifamily property in Florida.
Providence Investments said it sold Hunters Pointe Apartments, a 204-unit property in Pensacola, for $17.45 million. An Atlanta-based investor was the buyer in the deal.
Providence Investments founder and CEO John Mejia said the company purchased Hunters Pointe Apartments for $11.69 million in May 2016. The company invested more than $300,000 in improvements at the property, including new flooring in 110 units.