HUNTSVILLE, AL – Freeman Webb Company of Nashville, Tennessee, a full-service real estate investment and management firm, recently took over Gravity at 255 Apartment Homes in the Huntsville area from Lurin Capital with the transition facilitated by Craig Hey and Andrew Brown with Cushman & Wakefield. The 334-unit apartment complex is Freeman Webb’s seventh property in the Huntsville area, making the company the second largest operator in the Huntsville-Madison market.

The property, located at 1501 Old Monrovia Rd NW, is a prime location at the epicenter of growth in the Huntsville market. Built in 2008 the property is considered a “Class A” asset in excellent condition. Though some renovations were previously initiated, Freeman Webb will be enhancing the existing amenities to ensure the property remains competitive with the newer residential development in the immediate area. Upon completion of renovations the residents will benefit from updated, modern interior finishes, an expansion of the fitness center, an expanded dog park and state of the art smart technology package allowing residents to access their unit and control the thermostat from their phone.

“We’ve had incredible success in the Huntsville market since first planting a flag in the community in 2017. The city is experiencing tremendous population and job growth that is fostered by a business-friendly climate and strong local leadership. We are excited about Gravity at 255 Apartment Homes given its fabulous location and the development in the immediate area,” said Freeman Webb’s Vice President of Acquisitions Matt Olson

“We are happy to be the second largest operator in the market with this purchase of Gravity being our seventh property and almost 1,500 units under management in the Huntsville-Madison market. As a company we always strive to honor the communities in which we operate. Recently we were honored with the “2021 National Rehab Community of the Year” by the National Apartment Association and the “2021 Excellence Award for Value-Add Renovation” by Multi-Housing News for our renovation of Madison Landing at Research Park. Improvements for Gravity at 255 will be equally beautiful and residents will be proud to show off their newly renovated apartment homes,” stated Bob Freeman, Executive Vice President of Freeman Webb.

Gravity at 255 Apartment Homes is currently at 92% capacity and the forthcoming renovations will only increase the property’s appeal. When it comes to whether or not Freeman Webb will continue looking for opportunities to increase their presence in the Huntsville marketplace Olson stated that “we are very bullish on Huntsville and actively looking to expand our presence in the community.”