Mobile Apartment Complex Aquired By CLK

MOBILE, Ala. — CLK, a Long Island based commercial real estate investment firm with a national portfolio, has acquired a 201-unit multifamily development of 20 buildings in Mobile for $15.8 million in an off-market deal, the company announced in a press release. The Park Apartments property, built in 1975, sits on 11.5 acres and features two-story buildings, a pool, fitness center, playground and picnic area. The property is within three miles of the Mobile Regional Airport and the University of Southern Alabama. Rosewood Realty Group’s Aaron Jungreis and David Wildes represented both CLK ‘s owner Craig Koenigsberg and the seller, Walden Asset Group President Steven Schorr. In addition to "The Park," CLK owns three other assets in the Mobile market that combined, total over 1,400 units. CLK plans to renovate the property and raise rents at the property, which is currently 95%-plus occupied.