On October 10th, we acquired a property in Huntsville, Alabama, consisting of 11 townhomes, with a purchase price of $2,184,200.
Our business plan is to sell a portion of the homes and retain the remainder as rentals. The product presents very well and we’re preparing to market these properties.
This acquisition was part of a broader agreement with the builder to secure reduced construction costs for the Arabella Real Estate Fund’s next development in Huntsville. In return, we committed to purchasing these 11 completed townhomes in bulk.
