Monument Capital Management, an A Rod Corp company, has completed the acquisition of Grove Park Apartments, a 324 unit Class A multifamily community in Tallahassee, Florida. Monument Real Estate Services, an affiliate of Monument Capital Management, will oversee management of the property.
The transaction was arranged by Berkadia, with Brad Williamson and Wes Moczul securing financing on behalf of the buyer. David Etchison of Berkadia represented the seller, Alabama based TrimCor.
Grove Park was completed in 2021 and is a two story garden style community positioned on more than 30 acres. The development features a low density site plan with residences averaging 1,713 square feet, placing it among the larger unit offerings in the submarket. The property includes a mix of one, two, and three bedroom layouts, with an emphasis on single story duplex style residences that include private fenced in yards…