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BIRMINGHAM, ALA. — Tampa, Fla.-based LVR Real Estate Partners and Birmingham-based Engel Realty have purchased the 276-unit Madison at Shoal Run from G&I III Madison for $16.3 million. The owners will undertake interior and exterior renovations to the property, which is located in Birmingham’s Oak Mountain neighborhood. Engel Realty will serve as the complex’s property manager. CB Richard Ellis brokered the transaction.