Atlanta Firm Acquires Birmingham's Five Points South Apartment Building

An Atlanta-based rental housing investment company has acquired an apartment building in Birmingham's Five Points South neighborhood.

Audubon has purchased Scholar Birmingham, located at 1001 20th St. S., a 198-unit apartment complex, for an undisclosed amount.

“We are thrilled to bring our vision for Scholar Birmingham apartments to life,” said Myles Cunningham, managing partner and CIO at Audubon. “The Five Points neighborhood is known for its unique character and vibrant community, and we are dedicated to enhancing the property to match. With our extensive investment, we aim to provide an exceptional living experience for our future residents.”

Originally developed as student housing near UAB in 2020, Scholar Birmingham will undergo a transition to market-rate housing. Audubon plans to modernize the interiors and enhance amenities.

The building currently offers studio, 1, 2, 3, and 4-bedroom units, along with a rooftop pool, 24-hour fitness center, lounge, outdoor grilling stations, relaxation room, sauna, fire pits, and secure parking.