MADISON, AL - Cushman & Wakefield announced today the commercial real estate services firm has arranged the sale of The Station at Clift Farm, a 315-unit multifamily community located in the Huntsville metro area.
Jimmy Adams and Craig Hey of Cushman & Wakefield represented the seller, Tynes Development, in the transaction. Carter Funds, a privately-owned real estate investment and management firm, acquired the property.
Built in 2021 and strategically positioned off Highway 72, The Station at Clift Farm features state-of-the-art interiors, a sky lounge, excellent visibility to Huntsville’s top employment drivers and easy access to brand new retail including Publix, Hollywood Feed and Taco Mama.
"This asset came to market pre-stabilized and closed at over 40% leased,” said Adams, Executive Vice Chair at Cushman & Wakefield. “The Huntsville market experienced consistent rent growth during 2021 and the solid Clift Farm submarket absorbed well. The buyer is excited to expand its scale in the Huntsville metro area, which continues to draw national attention for its robust job and GDP growth coupled with a business-friendly climate."
Cushman & Wakefield’s Sunbelt Multifamily Advisory Group ranks No. 1 in Sunbelt market share based on over 250 transactions and $6.2 billion in multifamily and land investment sales in 2020 (Source: Real Capital Analytics www.rcanalytics.com). Market share reflects number of sales for Alabama, Arkansas, Northwest Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Texas.
About Cushman & Wakefield: Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and 60 countries. In 2020, the firm had revenue of $7.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.