Cushman & Wakefield has arranged the $9.2 million sale of Legacy at the Lake, a 200-unit apartment community in Montgomery, AL. Craig Hey and Andrew Brown of Cushman & Wakefield represented the seller, The Legacy Companies, in the transaction. Bullseye Investments acquired the property.
Built in 1977, the property is located nearby the Interstate 85/Eastern Boulevard junction, the property offers residents nearby access to parks with walking trails and recreational lakes. The community also offers significant value-add upside.
“Legacy at the Lake is poised for future growth given Montgomery’s strong manufacturing base and recession-proof government employment,” said Hey. “The metro has garnered significant capital investments, highlighted by Hyundai’s announcement to invest $410 million and create 1,200 additional jobs to build a new light truck model in Montgomery.”
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles.
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