LEXINGTON, KY. — F45 Training, a global fitness company that provides high-intensity group exercise programs, has signed a 3,904-square-foot lease in the mixed-use development of Pleasant Ridge Commons in the Hamburg trade area of Lexington. This marks F45 Training’s second Lexington location. Al Isaac and Zach Smith of NAI Isaac represented the tenant in the lease negotiations. Fahr Juneja and Cole Sturgeon of Gulfstream Commercial Services represented the undisclosed landlord.
LEXINGTON, KY. — A joint venture between Article Student Living and Barings has acquired 5 Twenty Four and 5 Twenty Five Angliana, a 1,060-bed student housing development located near the University of Kentucky campus in Lexington. The property includes 13 buildings spanning 427,200 square feet across 30 acres. The community offers 376 fully furnished units in one- through four-bedroom configurations. Shared amenities include two fitness centers; two swimming pools with sun decks and lounges; two study centers; private study space; a half basketball court; game room; movie theater; and onsite parking. The new ownership plans to renovate the community’s amenity spaces and unit interiors. The seller and terms of the transaction were not released.
LOUISVILLE AND SIMPSONVILLE, KY. — Aphorio Carter Critical Infrastructure Fund LLC has purchased two data centers in Louisville and Simpsonville for a combined purchase price of $35 million. The seller was not disclosed. Both properties span 102,500 square feet and are LEED Gold-certified. Additionally, both data centers were built in 2011 and are fully leased to the same tenant, an undisclosed Fortune 200 firm. The two properties also include 10,000 square feet of raised floor space, an additional 10,000 square feet of shell space for future expansion and 1 megawatt (MW) of critical power. The Louisville data center sits on 30 acres while the Simpsonville data center occupies 21 acres. LG&E provides energy services to the Louisville facility, while Kentucky Utilities services the Simpsonville property.
LEXINGTON, KY. — GMH Communities has acquired The Stretch, a 533-bed student housing community located near the University of Kentucky campus in Lexington. A joint venture between Campus Advantage and Tramview Capital Management sold the property for an undisclosed price. Teddy Leatherman, Scott Clifton, Kevin Kazlow and Jack Goldberger of JLL represented the seller in the transaction. Built in 2009 at 1051 Red Mile Road, the community offers a mix of two-, three- and four-bedroom units. Shared amenities include a clubhouse; pool and hot tub; fitness center; basketball, pickleball and volleyball courts; study rooms; a tanning salon; and outdoor grilling areas. The property was 96 percent leased at the time of sale.
GEORGETOWN, KY. — The Kirkland Co. has brokered the sale of Crown Pointe, an 84-unit apartment community located at 1100 W. Main St. in Georgetown, about 15 miles north of Lexington, Ky. Brandon Wilson, Brian Devlin and John Seale of Kirkland brokered the transaction. The seller, buyer and sales price were not disclosed. Built in 1994, Crown Pointe features two-bedroom apartments averaging 1,035 in size, with units recently renovated with updated flooring, kitchen backsplashes, appliances, painted cabinets, washer/dryer connections and bathroom vanities.
HEBRON, KY. — Brennan Investment Group has purchased a 100,000-square-foot industrial facility located at 1102 Aviation Blvd. near the Cincinnati & Northern Kentucky International Airport (CVG) in Hebron. The property is located on 18 acres off I-275 near Amazon Prime Air Hub. The seller and sales price were not disclosed, though Brennan says it purchased the infill facility at below replacement cost. The Chicago-based investment firm plans to renovate and update the facility over the course of its ownership.
LOUISVILLE, KY. — The Kirkland Co. has brokered the sale of The Avenue in the Highlands, a 128-unit apartment community in Louisville’s Highlands neighborhood. Brandon Wilson, Brian Devlin and John Seale of Kirkland brokered the transaction. The buyer, seller and sales price were not disclosed, but The Lane Report reported that the property traded hands for $18 million. Built in 1966, The Avenue in the Highlands features a mix of studio, one- and two-bedroom apartments, as well as a resort-style swimming pool, dog park, coffee bar and a grilling area.
LEXINGTON, KY. AND HOUSTON — Tempur Sealy International Inc. has completed its previously announced $5 billion acquisition of Mattress Firm Group Inc., the largest mattress specialty retailer in the United States. The Lexington-based mattress manufacturer purchased the Houston-based retailer using approximately $2.7 billion in cash considerations and about $1.3 billion in stock. Tempur Sealy will change its name to Somnigroup International Inc., effective Feb. 18, and trade on the New York Stock Exchange under the ticker symbol “SGI.” Mattress Firm, Dreams and Tempur Sealy will operate as decentralized business units under Somnigroup International, with Mattress Firm and Dreams continuing to operate as multi-branded retailers and Tempur Sealy, primarily a manufacturer, continuing to serve third-party retailers as well as Mattress Firm, Dreams and its own direct-to-consumer channel. Additionally, Tempur Sealy expects to complete the previously announced sale 73 Mattress Firm retail locations and the company’s Sleep Outfitters subsidiary, which includes 103 specialty mattress retail locations and seven distribution centers, to MW SO Holdings Co. LLC (Mattress Warehouse) in the second quarter.
BOWLING GREEN, KY. — Pearlmark has provided a mezzanine loan for the acquisition of Midtown at WKU, a 534-bed student housing community located adjacent to Western Kentucky University in Bowling Green. Eagle Realty Group provided the senior loan on behalf of the borrower, ABCampus. Greg Young of Colliers Mortgage arranged the financing. Located on Center Street, Midtown at WKU features 189 units with bed-to-bath parity, as well as an amenity package that includes a fitness center, rooftop pool, study center, 24-hour maintenance staff, courtyard, clubhouse and private study rooms.
GEORGETOWN, KY. — Home Invest has acquired Pine Tree Path, a 72-unit apartment community in Georgetown, about 70 miles east of Louisville, Ky. Longtime owner PAJ Properties Inc. sold the Class B property to Home Invest for approximately $7.8 million. Home Invest will be the property manager for Pine Tree Path, which was fully occupied at the time of sale. The firm will also replace roofs for seven buildings and make light renovations to unit interiors as the leases turn over.
