REBusinessOnline

Dermody Properties Breaks Ground on 352,800 SF Industrial Building Near Louisville Airport

LOUISVILLE, KY. — Dermody Properties has acquired 17.1 acres within Renaissance South Business Park from the Louisville Renaissance Zone Corp. (LRZC) and has broken ground on a 352,800-square-foot warehouse and distribution building called LogistiCenter Louisville Airport. The building will be situated at 2825 Transglobal Drive, two miles from Louisville Muhammad Ali International Airport. The building will feature 32-foot clear heights, 60-foot-by-56-foot speed bay, 7-inch concrete floor …

Inland Private Capital Sells Apartment Community in Louisville for $45.5M

LOUISVILLE, KY. — Inland Private Capital Corp. (IPC) has sold Hurstbourne Estates Apartments, a 270-unit complex in Louisville, for $45.5 million. IPC sold the property on behalf of its institutional investors through its subsidiary on behalf of Louisville Multifamily DST, the company’s 1031 tax exchange investment program. At the time of sale, Hurstbourne Estates was 95.2 percent occupied. Communal amenities include a fitness center, clubhouse, yoga room, game room, business center, …

Cushman & Wakefield Arranges Sale of 697-Unit Multifamily Portfolio in Kentucky, Mississippi

SOUTHAVEN AND HORN LAKE, MISS. AND BOWLING GREEN, KY. — Cushman & Wakefield has arranged the sale of a three-property, 697-unit multifamily portfolio in Kentucky and Mississippi. The properties are the 240-unit Fairways at Hartland in Bowling Green, the 204-unit Savannah Creek in Southaven and the 253-unit The DeSoto in Horn Lake. Jimmy Adams, Robbie O’Bryan and Craig Collins of Cushman & Wakefield represented the seller, McDowell Properties, in the transaction. Covenant Capital …

KeyBank Provides $38.9M Refinancing Loan for Five-Property Skilled Nursing Portfolio in Kentucky

BOWLING GREEN, KY. — KeyBank Real Estate Capital has provided a $38.9 million refinancing loan for a five-property skilled nursing portfolio in Kentucky. KeyBank provided the loan through the FHA 232/223(f) mortgage insurance program on behalf of GMF Capital. The new FHA loans will be used to refinance an existing KeyBank loan that funded GMF Capital’s acquisition of the properties. The non-recourse, first mortgage financing was arranged with fully amortizing loan terms ranging from 30 to …

Georgia-Pacific Plans $100M Expansion of Dixie Manufacturing Facility in Kentucky

BOWLING GREEN, KY. — Georgia-Pacific’s Consumer Products Group has unveiled plans to invest $100 million to expand its manufacturing facility in Bowling Green, a town in southern Kentucky. The investment will expand operations for the production of Dixie-branded plates and bowls. Construction has commenced and the project is slated for completion in the first half of 2020. “This expansion will help us continue meeting the needs of our customers, as demand continues to grow for …

NorthMarq Arranges $10M Refinancing of Distribution Facility in Louisville

LOUISVILLE, KY. — NorthMarq Capital has arranged a $10 million refinancing loan for Crossings Center Nine, a 500,000-square-foot distribution facility in Louisville. Crossings Center Nine is situated within Commerce Crossings Business Park, 14 miles south of downtown Louisville and 10 miles south of Louisville International Airport. A life insurance company provided the 15-year, fixed-rate loan with a 20-year amortization schedule. The borrower was not

Cushman & Wakefield Arranges $31M Sale of Apartment Community in Lexington

LEXINGTON, KY. — Cushman & Wakefield has arranged the $31 million sale of The Fountains at Andover, a 318-unit apartment community in Lexington. The Wilkinson Group acquired the property, rebranded it as Reserve at Hamburg and plans to upgrade individual units. Amenities include a car care center, fitness center, sports court, swimming pool, tennis court and two lakes with fountains. Mike Kemether and Craig Collins of Cushman & Wakefield represented the undisclosed seller in the …

Aeroterm Begins Construction on 50,400 SF Industrial Facility at CVG Airport in Northern Kentucky

HEBRON, KY. — Aeroterm, a developer and owner of airport cargo facilities, has broken ground on a 50,400-square-foot industrial facility at Cincinnati/Northern Kentucky International Airport (CVG) in Hebron. FedEx will be the anchor tenant for the asset, and there is 12,000 square feet of available space for one or two additional tenants. The LEED-certified building offers insulated, pre-cast concrete panels and will be used for airside cargo operations. The facility can accommodate cargo, …

PGIM Provides $15.3M Financing for Two New Seniors Housing Communities in Kentucky

DANVILLE AND RUSSELL, KY. — PGIM Real Estate Finance has provided two refinancing loans for seniors housing communities in Kentucky totaling $15.3 million. The first property, Morning Pointe Danville, is a 60-unit assisted living and memory care facility that was built in 2017. PGIM provided a $7.5 million, 10-year, fixed-rate loan for the 90 percent-occupied asset, which is located in Danville near a regional medical center and 35 miles south of downtown Lexington. Amenities include a …

Marcus & Millichap Negotiates $5.5M Sale of Industrial Building in Louisville

LOUISVILLE, KY. — Marcus & Millichap has negotiated the $5.5 million sale of Precision Metal Works, a 157,520-square-foot industrial facility in Louisville. The asset is situated at 6901 Preston Highway, about 10 miles southeast of downtown Louisville. Darpan Patel, Sal Ramundo and Aaron Johnson of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer was also not

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