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Tampa investment firm acquires Mobile apartment complex for $33 million Updated 12:10 PM; A west Mobile apartment community has been acquired from a Tampa investment firm for a little over $33 million. Morrison Avenue Capital Partners and its affiliate acquired Timber Ridge, located at 6700 Wall St. in Mobile, for $33.35 million, according to the Birmingham Business Journal. The cost per unit is over $100,000. The property was most recently acquired in 2012 by an affiliate of Cottonwood Residential, out of Salt Lake City, Utah. Nine years ago, the community was acquired for more than $23 million and around $75,000 per unit, according to the publication. “Timber Ridge is in a great submarket in West Mobile which has shown a lot of resiliency and growth over the past year,” Jimmy Adams of the Birmingham office of Cushman & Wakefield said in a prepared statement.

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