Berkadia is pleased to exclusively present Highland at Spring Hill, a 252-unit, elevator-served Class-A community completed in 2018 in Mobile’s most established and affluent neighborhood, Spring Hill. The Property combines top-of-market finishes with a resort style amenity package and is the only 5-Star rated property in the entire market. The Property sits just off Interstate 65 with direct access to ~190,000 jobs and is walkable to Legacy Village, Mobile’s premier upscale and luxury dining destination. Downtown Mobile, Airbus, Austal HQ, University of South Alabama, and the Port of Mobile are all within a 20-minute drive. Additionally, Mobile has more than $5.8 billion of new infrastructure and industry development underway. 

Highland at Spring Hill’s unmatched location and product quality have made it the beneficiary of steady, durable demand. The Property is 98% occupied and has grown rents 36% since 2022 (~7% CAGR) while maintaining 97% historical occupancy without offering any concessions and had extremely low bad debt. The Property’s last 30 leases have produced 3.5% organic rent growth, and LTO’s accelerated 80 bps from YTD to T30. With zero units under construction or planned and a highly educated, high-income ($151,000 avg HHI) renter base, the Property is well positioned to keep pushing rents. The Property’s unmatched location, affluent renter demographic, exceptionally low rent-to-income ratios (17%), and its strong discount to homeownership put it in a strong position to continue to capture future rent growth. Highland at Spring Hill represents a compelling opportunity to acquire the best-in-class asset in one of Alabama’s most desirable, wealthy neighborhoods.