New Albany, MS – Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the sale of Park Place Apartments, located at 1119 Bratton Road, New Albany, MS. The property is the newest and largest apartment community in the New Albany market. The 144-unit building was built in 2014 and offers high-end amenities such as a gated entrance, saltwater pool, pet park, fitness room, and more. The transaction was handled by Senior Associates Austin Graham and Connor Kerns.

 

Matthews™ represented the seller, local owner and original developer, who was looking to take advantage of the prosperous market and pivot their focus to other projects in the area. Agents sourced multiple offers and received 94 percent of the list price with aggressive terms for their client.

 

“This property is one of only a handful of apartment communities in the submarket and is the most recently developed community,” Graham said. “This made the deal a great opportunity for investors and allowed us to create a competitive buying environment and source offers from across the U.S.”

 

The buyer, an out-of-state investor, received a valuable investment in the fastest-growing submarket in Mississippi, set to grow 13 percent in the next five years. Park Place is the highest-end rental option in the city, providing high yields.

 

“Using our market knowledge and proprietary database, we were able to sell this multifamily asset at a profitable price point and close with little to no challenges,” Kerns said. “We reached an outcome that achieved all parties’ goals.”

 

For more information or to contact Austin Graham and Connor Kerns, please visit www.matthews.com. Sold in conjunction with Broker of Record, Phillip Carpenter, Lic Number 18906 (MS).

 

About Matthews™

Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Founded in El Segundo, CA, and strategically positioned with over 400 agents and support staff in over 13 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.

 

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