Multifamily Q Kentucky

HFF sells 270-home multifamily development in Louisville

HFF sells 270-home multifamily development in Louisville,ph01

Holliday Fenoglio Fowler, L.P. (HFF) has closed the sale of Hurstbourne Estates, a 270-home, luxury garden-style apartment community located in the East End of Louisville, Kentucky.

HFF marketed the property on behalf of the seller, Inland Residential Properties Trust, Inc. (a member company of The Inland Real Estate Group of Companies, Inc.), and procured the buyer, Peak Capital Partners.

Hurstbourne Estates is located at 10405 Watermark Place with easy access to downtown Louisville and a multitude of demand drivers, including Churchill Downs, Louisville Slugger Field, Kentucky International Convention Center, University of Louisville and the KFC Yum! Center.

Completed in 2014, the 17-building property comprises a mix of one-, two- and three-bedroom floor plans that average 1,059 square feet. Units feature granite counters, Shaker-style espresso cabinets, energy-efficient appliances, wood-style flooring, crown molding, in-unit washers and dryers, patios or balconies, open layouts and oversized closets with built-in shelving. Select homes also provide private entrances and direct-access attached garages.

Community amenities include manicured courtyards and walking paths, controlled access, a business center, resort-style swimming pool and sundeck, expansive fitness center, dog park, modern club house, community kitchen, recreation room with billiards table and barbeque and picnic areas. The community was 94 percent occupied at closing.

The HFF investment advisory team included senior director Wick Kirby, managing director Sean Fogarty, director Kevin Girard and associate Amanda Friant along with managing director Marty O’Connell, a licensed Kentucky real estate broker.