Cushman & Wakefield arranges $46.55 million multifamily sale for Stonecutter Capital Management

Ascent at Jones Valley sells for $108,004 per unit

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Ascent at Jones Valley
Cushman & Wakefield has arranged the $46.55 million sale of Ascent at Jones Valley, a 431-unit apartment community located in Huntsville, Alabama.

Cushman & Wakefield has arranged the $46.55 million sale of Ascent at Jones Valley, a 431-unit apartment community located in Huntsville, Alabama. Jimmy Adams and Andrew Brown of Cushman & Wakefield represented the seller, Stonecutter Capital Management, in the transaction. Wicker Park Capital Management acquired the property.

“Huntsville has been one of the best-performing apartment markets in the country, showing resiliency and growth throughout 2020,” Adams said. “New ownership plans to invest further in the asset and has had strong success previously in the market.”

Constructed in 1978 with large floor plans and multiple townhouse options, Ascent at Jones Valley has undergone a $2.2 million renovation in the past two years including a renovated swimming pool area, upgraded tennis courts, and a new fitness 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.