Benson O'Connor, with White-Spunner & Associates Inc. inMobile, says the sellers--Regency Gates LLC and Arbor GatesLLC--had some of the same members in the single-asset partnerships."The partners had held these properties since they were developed,about 15 years," O'Connor tells GlobeSt.com. "It appeared to be agood time for them to sell."
Situated at 5700 Grelot Rd., Regency Gates has one-, two- andthree-bedroom units from 820 sf to 1,390 sf. Monthly rents are $65to $940.
Arbor Gates, located at 901 Gayfer Ave. in Fairhope, also hasone-, two- and three-bedroom units. Units range from 850 sf to1,300 sf, with rents going from $655 to $925 per month.
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