Elevation Announces Sale Of Alabama Multifamily Property
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ORLANDO, Fla., April 23, 2021 /PRNewswire/ -- Elevation Financial Group, a senior and multifamily affordable housing provider, announces the successful disposition of Elevation Real Property Fund VI asset, Serenity Apartments at Huntsville. The 231-unit multifamily community sold for $13.25 million.
Serenity Apartments at Huntsville
Located in Huntsville, Alabama, the property was purchased in 2017 for $5.38 million. Elevation recognized the immense potential in the mix of 1-, 2-, and 3-bedroom apartment units as well as the prime location. Being situated within minutes to many large employers, including Redstone Arsenal U.S. Army Post and Marshall Space Flight Center, its location presented an ideal opportunity to deliver affordable and quality workforce housing to Huntsville residents.