The 192-unit Emerald Pointe apartment complex in Birmingham has been acquired by New Jersey-based Lexerd Capital Management LLC.
Located on Lorna Road not far from the intersection of Interstates 65 and 495, the complex includes 21 two- and three-story buildings, plus a community building.
“We are enthusiastic about the acquisition of Emerald Pointe,” said Albert Lord III, founder and CEO of Lexerd. “Birmingham is a growing market and central to the nation’s fastest growing auto manufacturing region. Emerald Pointe is well-located with easy access to Hoover Public Library, various shopping and medical offices, neighborhood schools, and restaurants.”
Lord founded Lexerd in 2006 and has managed more than $500 million in assets over the years, including a bid to purchase the Washington Nationals baseball team.