ATLANTA and BIRMINGHAM, Ala. – March 3, 2022 – Berkadia Institutional Solutions announced today the sale of Henry House at Clift Farm, a 273-unit garden-style multifamily property in the Huntsville, Alabama market. Managing Director Russ Hardy of Berkadia Atlanta and Senior Director David Wilson of Berkadia Birmingham completed the sale on behalf of the seller, a joint venture partnership between Atlanta-based META Real Estate Partners and Huntsville-based Watercress Partners. Managing Director Tom Genetti of Berkadia Birmingham arranged the financing on behalf of the buyer, New-Jersey based Brass Enterprises. The deal closed on December 22.
“Henry House is one of the highest-quality apartment properties in the Huntsville market and this newly constructed property had just achieved stabilization as we began marketing,” said Wilson.
“Its exceptional location in a strong growth area of one of the Southeast’s most dynamic cities combined with its quality, resulted in tremendous investor interest from a mix of private equity and institutional capital,” said Hardy.
“Due to the tremendous asset quality and the phenomenal Huntsville market, we were able to successfully negotiate with a lender that met all of the buyer’s financing objectives,” said Genetti. “This was a true win for the buyer and the lender.”
Located at 1435 Balch Road, Henry House at Clift Farm is a Class AA asset featuring one-, two- and three-bedroom floor plans with in-unit washers and dryers and private patios or balconies. Community amenities include a top-of-the-line clubhouse with a large fitness center, an exceptional swimming pool, multiple outdoor kitchens, an expansive dog park and a playground. The property affords residents convenient access to a new Publix, Madison Hospital, the shops and restaurants along Highway 72 and walking trails in the 600-acre Clift Farm master-planned development.
Brass Enterprises Buys 273-Unit Multifamily Property in Huntsville | REBusiness Online