Oakley Group

Birmingham-based?Oakley Group, an experienced multifamily real estate investment firm, has acquired Summit at Hillcrest, a 104-unit apartment community totaling 114,400 net rentable SF on approximately 7.23 acres at 1601 Hillcrest Road in Mobile. CEO David Oakley said the property was purchased from Pacific Hillcrest LLC, a Delaware-based limited liability company, and listed by Marcus & Millichap, with brokers Josh Jacobs and Royce Emerson representing both sides. Oakley Group acquired Summit at Hillcrest with a Fannie Mae loan assumption with a 4.36% fixed rate, five years remaining on the term, and a loan balance of $7.95 million. The property consists of 14 two-story brick buildings on a low-density site with ample green space, a clubhouse, a pool house, and a fitness center, all built in 1982. Oakley Group said plans for the property include light enhancements such as new asphalt to common drives, exterior painting, landscaping, clubhouse upgrades, a new fire pit and grilling station, and modern upgrades to interiors. The one- and two-bedroom units’ square footage ranges from 950 to 1,250 per unit. Upon purchase, the property was 94% leased. Arlington Properties, which has a longstanding relationship with Oakley Group, has been retained as the management firm, according to Oakley Group.

Sold! We will miss you Country Oaks Apartments. We purchased this great community located in Hixon, Tennessee (Chattanooga MSA) back in December 2016. Our light value-add strategy positively impacted both our residents and the surrounding area. We wish the new owners all the best in this thriving submarket! A huge thank you to the professional broker team at The Kirkland Company for an outstanding job! Zac Wracher Dennis Harris Eric Hardesty The Kirkland Company #multifamily #justsold #roundtrip #weloveapts

Good progress with LEO at Cartersville, our 246-unit build-to-rent development in Cartersville, Georgia. #btr #sfr #development #apartment #investment #multifamily #housing

Can anyone do the math to see how many Marks it takes to fill up the pool? Mark is standing in the deep end! This pool will be ready for the summer fun for all our @reserveatwynwood residents! #SummerVibes #PoolParty

Exciting news from Oakley Group!? ?We're thrilled to announce the acquisition of Deerfield Place, a 110-unit property in Florence, AL. Sourced off-market by us, with financing from CommerceOne Bank, and a special connection as Florence is David's hometown. This marks our first venture in Florence – a testament to our bullish outlook on its growth. With plans to enhance amenities and interiors, Deerfield is a fantastic addition to our North Alabama portfolio. Let's make Deerfield Place the ultimate living destination together!? ?#OakleyGroup #NewAcquisition #FlorenceAL #RealEstateInvesting

An insightful session at the NALCOM Meeting last week, led by David Oakley and our good friend David D. Wilson, MAI . From market trends to development updates, it was a productive exchange! Huge thanks to Villas at Old Monrovia, Capstone Collegiate Communities, and CBI for their contributions! ???? #OakleyGroup #RealEstateTalks #IndustryInsights #realestate

Last week was truly inspirational as, David Oakley represented Oakley Group on a panel at Market Insights Luncheon hosted by Capital Title National Commercial Operations in #fortworth #texas. Connecting with visionary guests and discussing ways to uplift both our real estate community and ourselves was an absolute honor. Here’s to forging meaningful connections and driving positive change together! ?? #MarketInsights #Leadership #communitybuilding #realestate #panel

Life feels like climbing a staircase—each step forward, a new perspective gained, each ascent leading us higher. Together, we rise, embracing the journey, one step at a time. #ClimbWithOakleyGroup #ForwardTogether #architecture #interiordesign #motivation

Thrilled to announce the promotion of Michael Krombach to Executive Vice President and General Counsel at Oakley Group. With over nine years of dedication, Michael has played a pivotal role in expanding our multifamily portfolio, overseeing acquisitions and developments since 2015. His expertise in sourcing, due diligence, and the entire transaction process has been instrumental in our success. A seasoned professional, Michael's journey includes private practice in a Birmingham law firm and an analyst role at Deutsche Bank. ?? Graduating from Samford University's Brock School of Business and Cumberland School of Law, his educational background is as impressive as his professional achievements. In his new role, Michael will spearhead the execution of our strategic vision, driving new investments and fostering capital relationships. David Oakley, our Founder and CEO, acknowledges Michael's immense impact on our organization, highlighting his talents and unwavering dedication. Here's to new heights and continued success with Michael at the helm! #OakleyGroup #ExecutivePromotion #RealEstateLeadership #TeamSuccess