JACKSON TN – Five Jackson apartment complexes have been sold to AGM McDowell Properties, San Francisco, according to the the Madison County Register’s office. The properties sold for $34 million, records indicate.  Over the past twelve months, AGM McDowell Properties has purchased $375MM of apartment projects in the Southeastern United States.

According to the website, Acquisition Criteria: Properties requiring cosmetic or substantial rehab add value; under-performing properties which may have market-related and/or management induced problems; and package transactions.

Jackson, TN properties include:

Bradford Chase, Williamsburg Village, $8,300,000.

The Woods of Post House, Thistlewood Dr., $7,600,000.

The Oaks, North Parkway, $3,650,000.

Post House Jackson, Rachel Dr., $7,650,000.

Post House North, Revere Circle, $6,830,000.

According to the company website, McDowell Properties is a national real estate investment company specializing in the multifamily sector. “We are focused on the acquisition, management and repositioning of apartment projects in growth markets across the United States”.

The properties were owned by Mid America Communities Inc.,according to the records.  Mid-America Apartment Communities, Inc, is a multi-family focused self-administered and self-managed Real Estate Investment Trust. The Trust owns, operates, acquires and develops apartment communities located in the Sunbelt region of the United States.