A 431-unit apartment complex in Huntsville has sold for $46.55 million.
Ascent at Jones Valley, was purchased by Wicker Park Capital Management. Jimmy Adams and Andrew Brown of Cushman & Wakefield represented the seller, Stonecutter Capital Management.
Built in 1978 with large floor plans and multiple townhouse options, Ascent at Jones Valley has undergone a $2.2 million renovation in the past two years, including a renovated swimming pool area, upgraded tennis courts and a new fitness center.
“Huntsville has been one of the best-performing apartment markets in the country, showing resiliency and growth throughout 2020,” Adams said. “New ownership plans to invest further in the asset and has had strong success previously in the market.”
Cushman & Wakefield’s Sunbelt Multifamily Advisory Group had more than 300 transactions and $7 billion in multifamily and land investment sales in 2019.