Alabama

ATHENS, ALA. — Birmingham-based OG Capital LLC has acquired Camelot Apartments, a 112-unit multifamily community in Athens, about 26 miles west from Huntsville. Wade Lowry at The Kirkland Co. represented the seller, Tesco Development. The sales price was $9.2 million. Built in 1984, Camelot Apartments offers one-, two- and three-bedroom units ranging in size from 600 to 1,600 square feet. Unit features include balconies and private patios, double stainless steel sinks and washer and dryer connections. The property was 98 percent occupied at the time of sale. Located at 600 Camelot Drive, the property is situated 1.5 miles from Athens State University, 29.3 miles from the U.S. Space & Rocket Center in Huntsville and 24.4 miles from Huntsville International Airport. OG Capital plans to rebrand the community as Magnolia Row and will perform more than $2 million in extensive renovations of the entire property, including complete interior upgrades and common area upgrades. As part of the interior renovations, OG plans to add new appliances, paint, countertops, hardware, lighting and plumbing fixtures. Common area improvements will include renovations to the clubhouse and pool deck, new exterior paint, upgraded picnic, grill and mail station areas, new dog park and additional privacy fences. …

MADISON, ALA. — Cushman & Wakefield has arranged the $67.2 million sale of The Alexandria, a 258-unit apartment community located in Madison. Andrew Brown, Craig Hey and Jimmy Adams of Cushman & Wakefield represented the seller, Florence, Ala.-based Bobo Development Group, in the transaction. The buyer was not disclosed. Built in 2021, The Alexandria offers one-, two- and three-bedroom floorplans with a unit size range of 654 to 1,356 square feet. The units feature in-unit washers and dryers, storage units, double vanities, granite countertops, stainless steel appliances, tile floors, walk-in closets and a balcony and deck. Community amenities include a car wash, cardio and yoga rooms, clubroom with kitchen, coworking business center, CrossFit center, dog grooming facility, bark park, electric car chargers, enclosed garages, package lockers and a swimming pool with poolside grilling area. The monthly rent ranges from $1,135 to $1,770, according to Apartments.com. Located at 1028 Balch Road, The Alexandria is situated off Highway 72. The property is 6.9 miles from Oakwood University, and 0.3 miles from the Madison Hospital.

MONTGOMERY, ALA. — Morrison Avenue Capital Partners has sold Arbor Station and Stratford Village, two apartment communities totaling 512 units in Montgomery. Craig Hey and Andrew Brown of Cushman & Wakefield represented the seller in the transaction. Highlands Vista Group acquired the properties for an undisclosed price. Arbor Station, a 288-unit apartment community, was 98 percent occupied at the time of sale. Stratford Village, a 224-unit community, was 95 percent occupied. Both properties offer one-, two- and three-bedroom floorplans with units featuring private balconies or patios, hardwood-inspired flooring, wood burning fireplaces, ceiling fans and washer and dryer connections in select homes. Arbor Station is located at 2495 Meadow Ridge Lane, and offers community amenities such as a picnic area, playground, fitness center and a Jacuzzi and sundeck. Located at 2000 London Town Lane, Stratford Village’s community amenities include two pools with a sundeck, onsite parking, tennis court, pet play area, fitness center and a clubhouse. The properties are situated about one mile from each other. Morrison Avenue completed $5 million in capital improvements at both communities, including renovations of almost all unit interiors, new roofs and a new clubhouse at Stratford Village.

HOOVER, ALA. — Cushman & Wakefield has arranged the sale of Riverchase Landing, a 468-unit apartment community located in Hoover, about 12.1 miles from Birmingham. Jimmy Adams, Craig Hey and Andrew Brown of Cushman & Wakefield represented the Houston-based seller, ApexOne Investment Partners, in the transaction. New York-based Kushner Cos. acquired the property for $67.1 million. Built between 1984 to 1992, Riverchase Landing offers one-, two- and three-bedroom floorplans. The property’s units feature walk-in closets, wood-style floors, gas fireplaces and vaulted ceilings. Community amenities include a clubhouse, community room, dog park, dog washing station, fitness center, grill stations, playgrounds, two pools and tennis courts. Located at 200 River Haven Circle, the apartment community has access to Interstates 65 East and 459, and is located 1.7 miles from Riverchase Galleria, a shopping center with over 145 stores.