MONTGOMERY, ALA. — A partnership between DWG Capital Partners and Dorado Holdings has purchased Cloverdale Estates, a 106-unit community located at 3453 Audubon Road in Montgomery. Josh Jacobs of Marcus & Millichap’s Birmingham office represented the seller, an entity doing business as RK Cloverdale LLC, in the deal. The sales price was not disclosed.
Cloverdale Estates offers one-, two- and three-bedroom apartments ranging from 725 to 1,350 square feet. Each residence features a patio or balcony, and select units also include in-unit washer and dryer connections. Roughly 70 percent of the units have been upgraded with new finishes, updated mechanical systems and exterior improvements. The new ownership plans to renovate the remaining apartments over the next 24 months.