Investment Group Buys Brookwood Village

MOUNTAIN BROOK, AL — Brookwood Village, which is one of the oldest shopping malls in the state, has been acquired by an investment group. Birmingham-based Fairway Investments and Atlanta-based Pope & Land Real Estate purchased the property for $21 million, according to the Birmingham Business Journal.

The investment partnership purchased everything from the former Belk space to Macy's. The deal also includes the adjoining Fresh Market anchored retail center.

Colliers International of Alabama and Arlington Properties submitted plans to the Homewood City Council in October that would have redeveloped the mall into a mixed-use development, but then backed out of the project.

Brookwood Village, named because it sits within the Mountain Brook and Homewood city limits, opened in 1974. It was purchased in 1997 by Colonial Properties and renamed Colonial Brookwood Village.