IRVINE, August 1, 2022 – Steadfast Companies continues to grow its multifamily portfolio with the July acquisition of Seleno at Bridge Street, a “Class A” 244-unit mid-rise complex located at the Bridge Street Shopping Mall in Huntsville, Alabama.“We are very pleased that our first Alabama property is in an attractive submarket of the Huntsville MSA, particularly attractive to us due to the local employment, retail and recreational opportunities,” said Rodney F. Emery, CEO of the Steadfast Companies. “We believe this area will flourish and provide additional opportunities in the future.” Built in 2019, Seleno at Bridge Street includes two 4-story buildings with one-, two and three-bedroom apartment homes that average 933 square feet. Residents enjoy a heated resort-style swimming pool and Aqua Lounge by Pool Deck, a 24-hour health club, clubhouse with TVs, kitchen and coffee bar, focus rooms game room, dog park and pet spa. Every apartment home in the community features nine and ten-foot ceilings, private balconies, oversized soaking tubs, 9′ Chefs Island and detached garage.This acquisition was quickly followed by the purchase of Radius at Donelson, a Class “A” multifamily property in Nashville, Tennessee with 128 apartment homes. The new mid-rise addition to Merryvale/Donelson submarket was built in 2021 with studio, one- and two-bedroom units averaging 835 square feet.Radius at DoneslonResidents at Radius enjoy a fully-equipped fitness center, clubroom and swimming pool, besides close proximity to shopping and resturants. The property has close proximity to downtown Nashville and major employers, as well as the Nashville international Airport. Mr. Emery added, “With these two additions, we continue to grow our conventional portfolio with Class A properties in desirable communities.” With the acquisitions Steadfast expands its multifamily portfolio to 14 properties in six states.
