JEM Holdings Acquires Total of 230 Units

Cushman & Wakefield has arranged the sale of two multifamily properties located in Huntsville, Alabama. Jimmy Adams and Craig Hey of Cushman & Wakefield represented the seller, ROCO Real Estate, in the transactions. JEM Holdings acquired the properties.

“Huntsville’s Westside corridor continues to draw investor interest, with occupancy and rent growth outperforming state and national averages,” Adams said. “The assets benefit from a diverse renter pool sourced by the wide variety of jobs available within the submarket at Redstone Arsenal, NASA, Cummings Research Park and more. New ownership was attracted to the value-add upside at each asset and is excited to capitalize on the explosive Huntsville job growth story.”

The 146-unit Governors House, built in 1978, and the 84-unit, 336-bed Huntsville Place are both located in West Huntsville near the University of Alabama in Huntsville and Cummings Research Park, with convenient highway access to Downtown.

Cushman & Wakefield’s Southeast Multifamily Advisory Group ranked No. 1 in market share in 2018 based on closed transactions, totaling over $5 billion in sales volume. For more information about Cushman & Wakefield’s Southeast Multifamily Advisory Group, visit https://multifamily.cushwake.com.

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.