Arbors of Madison, a 204-unit multifamily community in Madison, Ala., has sold to an out-of-state investor for $10 million free and clear of debt.

A multifamily buyer from the metropolitan New York area purchased the property from Atlanta-based Alexander Properties Group Inc.

Situated on a 17.2-acre site, the Arbors of Madison is located at 7900 Old Madison Pike. The property has two-bedroom/one-bath, three-bedroom/two-bath and four-bedroom/two-and-one-half-bath units averaging 1,294 square feet. Community amenities include a swimming pool, clubhouse, sports court and playground.


What’s your opinion? Send your Letter to the Editor to

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Thank you for subscribing to Morning Headlines.
Back to top
Time is running out to secure your Connect Now tickets at the lowest price. Don't miss out on a chance to grow yourself and your business.Learn More×
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription