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Dothan's Madison Square apartments sell for $7.8 million

Rickey Stokes

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Posted by: RStokes
Date: Dec 16 2017 2:41 PM

DOTHAN AL:   


Dothan's Madison Square Apartments have been sold as part of a three-property deal involving complexes in three states.


Blue Magma Residential LLC and New York-based NCP Enterprise Funds announced the $34 million acquisition. According to a news release,the 184-unit Dothan complex was purchased for $7.8 million and is being renamed The Park at Ashburn.


The other two properties were in Covington, Ga. and Robinsonville, Miss. The company plans to spend about $5 million in upgrades for the three complexes.


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