Two-Unit Portfolio in Muscle Shoals and Tuscumbia, AL

ALABAMA — Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the sale of The Harvest Hills & Breckenridge Portfolio located in Muscle Shoals and Tuscumbia, AL.  Matthews™ Associate Richard Lindsey represented the seller in the transaction.

The transaction involved the sale of two properties, located approximately one mile apart along the Tennessee River, featuring 120 units at Breckenridge Apartments and 42 units at Harvest Hills. According to CoStar, This transaction represents the largest multifamily sale in the Florence MSA over the past five years, in terms of total sales price for both properties.

Matthews™ sourced the two separate buyers utilizing the company’s proprietary database. Both buyers, focused on expanding their local footprint, plan to implement different strategies to enhance each respective properties position. The closing timeline was expedited in order for the properties to close simultaneously, with multiple financing strategies being utilized. This led to a smooth transaction and successful outcome for all parties involved.

“The successful sale of these properties demonstrates our ability to leverage strategic market insights and our expertise to deliver optimal results for our clients,” Lindsey said. “With the help of Clark Finney from Matthews™ Capital Markets Division, we were able to navigate certain financing challenges that arose during the deal to make it pencil and cross the finish line.”

For more information or to contact a Matthews™ specialized agent, please visit
www.matthews.com.

About Matthews™

Matthews Real Estate Investments Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 1,000 agents and employees in 25+ offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.

PRESS CONTACT

Kaylee Stock
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