Huntsville apartment complex sells for $13.25 million
Updated Apr 29, 2021;
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A 231-unit Huntsville apartment complex has sold for $13.25 million.
Elevation Financial Group announced the sale of Serenity Apartments, an Elevation Real Property Fund VI asset. The identity of the buyer was not released.
The property was purchased in 2017 for $5.38 million. The complex, which includes 1-, 2-, and 3-bedroom apartment units, finished a multimillion-dollar revitalization, including work to the leasing office, exterior painting, new interior courtyards, installation of new laundry facilities, and upgrades to more than 150 apartment units.
“With Serenity Apartments at Huntsville, our team used our expertise and experience to revitalize an underperforming asset and successfully completed both of our company missions, delivering affordable housing for the people of Huntsville and a significant return for Elevation investors,” Chris King, CEO of Elevation said.