Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Hurstbourne Heights, an 84-unit apartment property located in Louisville, Kentucky.
“This transaction was especially unique due to the assumption of a low-interest HUD loan, which made it a standout investment despite the challenges of a yearlong closing process,” said Aaron Johnson, senior vice president investments. “Louisville’s strong growth fundamentals continue to attract out-of-state investors, and we expect that trend to remain steady in the months ahead.”
Johnson and David Badgett, investment specialists in Marcus & Millichap’s Louisville office, had the exclusive listing to market the property on behalf of the seller, a local developer, and procured the buyer, a South Carolina-based investor with multiple properties in Louisville.
Hurstbourne Heights, located at 7603 Downs Farm Way, was built in 2019 and includes 84 one-, two- and three-bedroom units across 73,752 rentable square feet. Situated on 6.78 acres in Louisville’s Highview neighborhood, the property features modern interiors, a dog park and a walking trail. Residents benefit from proximity to major employers, shopping, dining and recreation, with downtown Louisville just 20 minutes away.
Marcus & Millichap, Inc. (NYSE: MMI) is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of December 31, 2023, the Company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The Company also offers market research, consulting and advisory services to our clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion.
