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MONTGOMERY, ALA. — A 520-unit apartment complex The Ashton located at 5600 Carmichael Rd. in Montgomery, sold for $21 million. Montgomery Property, a joint venture led by the private equity arm of a New York-based real estate firm The Modlin Group. The joint venture purchased the complex with a loan from an undisclosed New York-based commercial lender. Amenities include a fitness center, pool and volleyball court. The buyer was represented by Andrew Chonoles, Jason Polevoy, David Park and Greg Kramer of New York-based Kleinberg, Kaplan, Wolff & Cohen. Avery Modlin was The Modlin Group's lead principal. Broker information was not provided for the seller.