CushWake Arranges $30M Sale of Multifamily near Auburn University

Cushman & Wakefield has arranged the $30.3-million sale of Grayton on Dean, a 240-unit multifamily apartment community located in Auburn, AL. The property, located on Dean Road less than two miles from Auburn University, was 95% leased at sale.

Jimmy Adams and Parker Caldwell of Cushman & Wakefield represented the seller, BRECAP, in the transaction. Brookhaven Property Group acquired Grayton on Dean, which is the company’s eighth asset in AL.

“Grayton on Dean came to market fully renovated with high-end finishes, new interiors, a new clubhouse and very high rent growth, positioning it to perform well in the future,” said Adams. “The property is also in the Auburn market, which has experienced incredible momentum in recent years fueled by a highly educated workforce and the renowned university.”