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Madison apartment complex sells for $39.4 million
Updated Jan 26, 2021;
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A Madison apartment complex last week sold for more than $39.4 million.
The Grand Reserve at Madison, 244 Kyser Blvd., in Madison, has one, two and three-bedroom apartments, as well as a business center, playground, clubhouse, laundry facility, pool and gym.
Eric Hardesty and Wade Lowry of the Kirkland Co. brokered the deal, which closed Jan. 22. The complex sold for $170,000 per unit. The buyers plan to upgrade amenities and interiors, Lowry said.
“North Alabama is one of the most attractive markets in the Southeast for multifamily investment. We’re optimistic about the continued growth and recent employment announcements in Huntsville and bringing over 700 units to market there in the next few weeks,” Hardesty said.