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Elandis Enters Alabama With Acquisition of Two Multifamily Communities

Alabama - July 2022

MIAMI, Jul 2022 –Elandis, a real estate ownership and property management company, today announced that it has acquired two distinctive multifamily communities in Alabama. The communities, located in Birmingham, include:

• Ascot Place: Located at 544 Gadsden Hwy, Birmingham, AL – 288 units, built in 1972 and 1986.
• Onyx at 600: Located at 600 Earline Cir, Birmingham, AL – 225 units, built in 1972.

Both properties are centrally located in Birmingham, a vibrant, growing city. As the new owner, Elandis is planning extensive upgrades to the unit’s interiors, amenities, and common areas.
With the acquisition, Elandis enters a new market, and reaches more than 3,500 units owned in the U.S. One of the leading multifamily real estate companies in the U.S. Sun Belt, Elandis continues to seek out opportunities in its target markets of Texas, Florida, Alabama, Georgia, North Carolina and South Carolina.
“We are pleased to acquire these excellent assets in the rapidly growing city of Birmingham. It is a city of great promise filled with entertainment, arts, nightlife, outdoor recreation, and world-class cuisine,” said Frank Espinosa, CEO of Elandis. “We are also excited to add Alabama to our continued expansion and are proud to breathe new life into these properties and to provide attractive workforce housing, which is in crucial need in Birmingham and across the country.”

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