December 6, 2021
HUNTSVILLE, AL - SVN Multifamily LLC., a leading commercial real estate brokerage firm specializing in multifamily real estate, announced today the sale of Country Club Apartments, a 200-unit apartment property located in Huntsville, Alabama. According to Andrew Agee, managing director of SVN Multifamily, the asset sold for $25.25 million.
The property, located along Airport Road in Southeast Huntsville, was developed by Jerome Averbuch in the 1960s and had been owned and managed by the Averbuch family for more than 60 years. Jerome was a visionary striving to help develop Huntsville in the 60s and built hundreds of homes in the city, as well as developed Malibu Apartments and Plantation South, Huntsville’s first residential condominiums. Jerome was incredibly involved in the North Alabama community and developed several office condominiums, hotels, and other commercial buildings across the Southeast US.
Jerome’s son Scott Averbuch, who assisted SVN Multifamily with the transaction, lived at the property for three years when he was a toddler. After Jerome passed away in 2019, Scott was honored to serve the tenants and work with the Averbuch Enterprises family until the sale in December.
The buyer, Truepoint Capital, headquartered in Houston, plans to build off of what the Averbuch family accomplished, investing more than $2 million into the property and positioning it for the long-term success it deserves as a Huntsville treasure.
"This was an absolutely amazing deal to be a part of," said Andrew Agee. "To be able to work with this family and sell this landmark property with such a rich history is a great honor that I will always cherish. I'm thrilled to see what’s in store for Country Club Apartments."
Country Club Apartments sits on almost 22 acres of prime land just south of Downtown Huntsville, and its grounds and landscaping, along with its superior amenity package and great staff, offer tenants an amazing experience for a very affordable rent.
SVN Multifamily managed more than $250 million in transaction volume across the Southeast US in 2021. For more information about this transaction or other transactions in the Huntsville area, contact Andrew Agee with SVN Multifamily at email@example.com.
About SVN Multifamily
SVN Multifamily LLC. is a full service commercial real estate brokerage firm specializing in multifamily real estate and dedicated to helping investors and landlords grow their portfolios. Headquartered in Huntsville, Alabama, SVN Multifamily manages the sale of properties across the Southeast United States, including Alabama, Tennessee, Mississippi, North Carolina and Georgia. We are a national leader in the multifamily industry with a history of success, managing more than $500 million in transaction volume and more than 12,000 units sold.
With more than 12 years’ experience in the multifamily space, our industry expertise, national marketing platform and relationships with thousands of buyers and financiers enables our team to provide superior value to our clients. SVN Multifamily advisors offer both national reach and local expertise. Whether you’re looking to buy or sell a single property or a geographically diversified portfolio, our advisors have the capability to advise you on your multifamily needs.