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Thompson Thrift Sells Multifamily in Madison to Capital Square for $56M Equity Raise
Thompson Thrift has sold FarmHaus, a recently completed 324-unit Class A multifamily in Madison, AL. Glen Allen, VA-based Capital Square purchased the community on behalf of CS1031 FarmHaus Apartments, DST, which seeks to raise $55.9 million in equity.
Craig Hey and Andrew Brown with Cushman & Wakefield brokered the sale.
This 92% leased, three-story garden style community is at 1260 Balch Road in a suburb of Huntsville, AL.
“Huntsville is one of the most desirable cities from an investment perspective, with a rapidly growing economy and expansive demand for quality rental living options, such as those provided by FarmHaus, which features exceptional unit finishes and extensive community amenities for its residents,” said Whitson Huffman, Capital Square’s co-CEO.
Huntsville is one of the nation’s top growth markets with over $5 billion in capital investments since 2018 and 8% average rent growth since 2019. The city is aided by 20,000 new job opportunities and major employers like Redstone Arsenal, Cummings Research Park and Toyota-Mazda.
- ◦Sale/Acquisition
