The Palomar Group, a full-service commercial investment sales firm headquartered in Augusta, Georgia, is pleased to announce the sale of Maxwell House Apartments, a 216-unit multifamily community in Augusta, Georgia.

Originally built in 1952 and later renovated in 2005, Maxwell House is a 216-unit LIHTC (Low-Income Housing Tax Credit) apartment community situated on 1.76 acres. The site is composed of a single 10-story building totaling 97,476 square feet, with a unit mix of 72 efficiency units (375 SF) and 144 one-bedroom/one-bath units (442-584 SF), along with six commercial spaces available for lease. Unit amenities include air conditioning, tub/shower, wheelchair-accessible layouts, oven, range, refrigerator, freezer, and carpet/vinyl flooring, while community amenities include controlled access, an on-site laundry facility, on-site management, wheelchair access, package receiving, and planned community gatherings. The property was 44% occupied at closing, presenting the buyer with a significant lease-up and repositioning opportunity, and sits within a federally designated Qualified Opportunity Zone, offering the new ownership group potential tax incentives to support its planned reinvestment in the building. The sale closed on August 25, 2026.

"Maxwell House is a building with a lot of untapped potential, and this sale puts it in the hands of an owner ready to invest in that vision," said Lee Malchow, Vice President at The Palomar Group, who represented the seller in the transaction. "The new ownership group was on site working the day after closing, and that kind of urgency tells you everything about how they see this property. We're excited to watch them turn Maxwell House into the asset it's capable of being."

The Palomar Group specializes in the sale of single-tenant, multi-tenant, and multifamily properties across the United States. With a proven track record of over $2.5 billion in completed transactions spanning 23 states and more than 14 million square feet, The Palomar Group is committed to delivering exceptional results through data-driven strategies, deep market knowledge, and a client-focused approach.