SVN Multifamily LLC, a commercial real estate brokerage firm, has brokered the sale of Country Club Apartments, a 200-unit apartment complex in Huntsville, to Truepoint Capital for $25.25 million.
Located along Airport Road in southeast Huntsville, the complex was developed by Jerome Averbuch in the 1960s and owned by his family for more than 60 years, with his son, Scott Averbuch, leading Averbuch Enterprises after his father’s death in 2019.
Jerome Averbuch built hundreds of homes in the city, as well as developed Malibu Apartments and Plantation South, Huntsville’s first residential condominiums. Across north Alabama, Averbuch developed several office condominiums, hotels and other commercial buildings.
The buyer, Houston-based Truepoint Capital, plans to invest more than $2 million into the property. Country Club sits on almost 22 acres just south of downtown Huntsville.
“To be able to work with this family and sell this landmark property with such a rich history is a great honor that I will always cherish,” said Andrew Agee, of SVN Multifamily.
Headquartered in Huntsville, SVN Multifamily has managed more than $250 million in transaction volume across the Southeast U.S. in 2021. The company has 12 years of experience in the multifamily space, serving clients in Alabama, Tennessee, Mississippi, North Carolina and Georgia.