Stonehurst Apartments has sold its assets to Innemex Group

STONEHURST APARTMENTS – SC&H Capital was hired by Ocwen Federal FSB of West Palm Beach, FL to sell this apartment complex located in Florence, AL. The complex, consisting of 152 units including 1, 2 and 3 bedroom apartments, was an under performing asset which was in need of repair. The occupancy rate was 63% while surrounding apartment complexes were above 90%. SC&H Capital identified prospects utilizing its marketing process. After receiving additional information on the property, 11 prospects inspected the complex and 5 offers were received. The sale was completed and the property will undergo renovations over the next year.