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We are excited to announce that CLK Properties in conjunction with Metropolitan Realty have acquired Barrington Parc, a 96-unit garden community located in Moody, AL.
The property currently operates under the Section 42 Low Income Housing Tax Credit (LIHTC) program, as 100% of the units are restricted at 60% AMI.
A partnership between industry leaders with deep expertise in multifamily ownership, CLK offers expertise in management and operations of multifamily assets and Metropolitan is the industry leader within the affordable arena – together these complimenting skill sets will allow both organizations to broaden their acquisition criteria, with aligned goals to expand their respective portfolios.
“Moody is a rapidly growing suburb within the Birmingham metro presenting a strong and exciting future.”, said Craig Koenigsberg, Founder and CEO of CLK Properties. With a population of 1.2 million, Birmingham, AL is the largest metro in Alabama and a major hub for commerce, industry, education, and healthcare in the rapidly growing Sunbelt Region. The metro benefits from strong economic anchors and a highly diversified private sector oriented toward the industries that will power future growth.
Barrington Parc stands to benefit from CLK’s established platform in the Birmingham market as well as its extensive and ongoing expertise operating garden style communities. CLK has a long track record of operational success in Birmingham, having owned over 2,000 units in the market since the company’s inception, and 200+ units currently managed in Birmingham.