Mayfair, Navarino enter Huntsville with acquisitions of Cambridge Court and Windsor Apartments

NASHVILLE, Tenn. and HUNTSVILLE, Ala., June 13, 2022 PRNewswire/ -- The Kirkland Company is pleased to announce the sale of The Windsor, an 88-unit complex, and Cambridge Court, a 64-unit complex, both located in the heart of Huntsville, Alabama. The combined purchase price for both properties is approximately $17,500,000. The properties are comprised of studio, one-bedroom and two-bedroom apartments.

"Windsor and Cambridge are a perfect pairing for our entry into the Huntsville market. We have been attracted to Huntsville for a few years' time. The job demand drivers, high levels of intellectual capital, wonderful lifestyle and general affordability are exactly what we seek in investment markets. We are keen to grow our local portfolio vastly in the next 12 months and hope to find opportunities to put our capital to work," said Jonathan More of Mayfair. "Eric Hardesty of the Kirkland Company is a consummate professional and had a excellent handle on all moving parts throughout the deal process."

"This was a particularly challenging transaction with two disparate, yet experienced sellers. Mayfair and Navarino performed very well, dual tracking the transactions, and closing both deals simultaneously despite the market volatility and economic headwinds", said Eric Hardesty. "We look forward to getting many more of these done in the future with Navarino and Mayfair."

Eric Hardesty, Stephen Perlis, and Wade Lowry brokered the transaction between the buyers, Mayfair and Navarino, and the sellers, 3MC Partners and Penn Capital Group.

Please contact The Kirkland Company at 205-225-7000 for multifamily opportunities in the state of Alabama.

The Kirkland Company is headquartered in Nashville, Tennessee and specializes in the sale of apartment communities in ten states across the Southeast. The TKC team has closed over 769 multifamily investment transactions since inception. Find out more about TKC at www.thekirklandco.com.--

Founded in 2013, Mayfair is a real estate owner-operator which seeks value-add investments and long-term asset appreciation of all asset classes. Florida, Alabama and other southeastern states are the firm's main focus areas, with a proclivity towards emerging and gentrifying markets with excellent transportation access. The firm is led by Jonathan More, Mayfair's principal with 19 years of experience in real estate finance, investments and asset management. Deal size targets are $5MM - $50MM, though larger transactions will be considered. For more information, please visit www.mayfairip.com.

Founded in 2009, Navarino Capital Management is the investment partnership arm of a second-generation Connecticut owner-operator. The principals have over 50 years of combined industry experience and have investments totaling more than $670MM. Navarino's principals have acquired approximately 4,000 multifamily units across 60 properties. While managing the portfolio and disposing of select assets during the last cycle, Navarino is currently redeploying capital and acquiring properties in Connecticut, Alabama, Florida, Rhode Island, Georgia, and Tennessee. Navarino has in-house property management capabilities through Navarino Property Management. For more information, please visit www.navarinoproperty.com.

SOURCE The Kirkland Company