LOUISVILLE, KY. — Marcus & Millichap has brokered the sale of two adjacent apartment properties in Louisville: the 106-unit Preston Commons Apartments II and the 80-unit Dunwoody Court Apartments. An entity doing business as Maples LLC bought the portfolio for $10.6 million, according to the Louisville Business First. The buyer plans on combining the two adjacent properties into a 186-unit community called Valore at the Maples.
Preston Commons Apartments II is located at 1409 Huntington Lane and Dunwoody Court Apartments is located at 7510 Dunwoody Court. Both properties have had updates over the last few years and were more than 90 percent occupied at the time of sale.
Preston Commons Apartments II offers two-bedroom units with community amenities including onsite laundry services, 24-hour emergency maintenance and off-street parking. Dunwoody Court Apartments offers one- and two-bedroom apartments with community amenities including a clubhouse, laundry facility and fitness center.
Aaron Johnson and David Badgett Jr. of Marcus & Millichap represented the undisclosed seller, a limited liability company. The duo also secured the buyer. Colby Haugness of Marcus & Millichap assisted in closing this transaction.