Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Germantown Village Apartments, a 100-unit apartment property located in Louisville, Kentucky. The property sold for $6,900,000, or $69,000 per unit.
“Completing a significant value-add program greatly enhanced Germantown Village Apartments, making it an exceptional asset in a prime location,” said Aaron Kuroiwa, senior vice president investments. “With comprehensive upgrades to the roofs, windows, HVAC
systems, and the majority of apartment units, the property presented an attractive opportunity for the buyer—a local investor with strong community ties—seeking to expand their portfolio through a 1031 exchange.”
Kuroiwa and Sam Kramer, investment specialists in Marcus & Millichap’s Indianapolis office, marketed the property on behalf of the seller, Strategic Advisors LLC, and procured the buyer, BlackOak Equity Management. Grant Fitzgerald, Broker of Record in Kentucky,
assisted in closing the transaction.
Germantown Village features 100 one-bedroom floor plans, each with 663 rentable square feet. Built in 1960, the property is situated on 2.65 acres off I-65, with proximity to the University of Louisville. Each unit features individual balconies or decks.
Marcus & Millichap, Inc. (
BlackOak Equity Management, a premier property management company, is dedicated to providing high-quality living conditions at affordable rents in Louisville, Southern Indiana, and Central Kentucky. Our portfolio includes a diverse range of apartments and single-family houses, each designed to cater to the unique needs of our tenants.
