Cushman & Wakefield arranges $43 million sale for Coastal Ridge Real Estate

Capital Park at 72 West sells for $184,549 per unit

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Capital Park at 72 West
Cushman & Wakefield arranged the $43 million sale of Capital Park at 72 West, a 233-unit apartment community located in Huntsville, Alabama.

Cushman & Wakefield has arranged the $43 million sale of Capital Park at 72 West, a 233-unit apartment community located in Huntsville, Alabama. Jimmy Adams and Craig Hey of Cushman & Wakefield represented the seller, Coastal Ridge Real Estate, in the transaction. Timberland Partners acquired the property.

“Huntsville continues to draw national interest, given its very compelling rent and job growth story,” Adams said. “This is a high-quality asset and new entrant to the market.”

Constructed in 2015, Capital Park at 72 West is situated within close proximity to Cummings Research Park (27,000+ jobs). Additionally, nearby Madison has experienced high levels of growth. Amenities of the gated community include a salt-water pool, bark park and pet spa, 2,000-square-foot sports club, electric vehicle charging stations, grilling stations, outdoor fireplace, and car care center.

Cushman & Wakefield’s Sunbelt Multifamily Advisory Group ranks No. 1 in Sunbelt market share based on over 300 transactions and $7.0 billion in multifamily and land investment sales in 2019 (Source: Real Capital Analytics). Market share reflects sales for Alabama, Arkansas, Northwest Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Texas.