Kentucky

BC Wood Acquires Two Shopping Centers in Newport, Kentucky Totaling 429,399 SF

by John Nelson August 31, 2022

NEWPORT, KY. — BC Wood Properties, a value-add shopping center investment firm based in Lexington, Ky., has purchased two retail centers in Newport, a suburb of Cincinnati. The adjacent assets, Newport Shopping Center and Newport Plaza, total 429,399 square feet. Newport Shopping Center’s tenant roster includes Newport Racing & Gaming, Crunch Fitness, Family Dollar, Dollar General, Cricket Wireless, H&R Block and GNC. Newport Plaza’s tenants include Fresh Thyme, Planet Fitness, Ace Hardware and Dollar Tree. Both centers also house several locally based stores and restaurants. BC Wood acquired the centers via its investment vehicle BC Wood Real Estate Fund III. The seller and sales price were not disclosed. With this acquisition, BC Wood now owns and operates 10 shopping centers in Kentucky.

August 31, 2022

Acquisitions Kentucky Retail Southeast

Stan Johnson Co. Arranges $15M Sale of Washington Square Shopping Center in Georgetown, Kentucky

by John Nelson August 26, 2022

GEORGETOWN, KY. — Stan Johnson Co. has arranged the $15 million sale of Washington Square, a 122,554-square-foot shopping center located at 1002 Lexington Road in Georgetown. Ryan Roedersheimer of Stan Johnson Co.’s Cincinnati office represented the seller, a Lexington-based investment firm, in the transaction. The buyer is a private investment firm based in Austin. Washington Square was built in 1972 and is situated on a heavily trafficked corner spanning 13.9 acres about 10 miles north of Lexington. The property was fully leased at the time of sale to tenants including anchor LifePoint Health.

August 26, 2022

Acquisitions Industrial Kentucky Office Southeast

MAG Capital Partners Acquires Flex Industrial Facility in Nicholasville, Kentucky in Sale-Leaseback Deal

by John Nelson August 23, 2022

NICHOLASVILLE, KY. — MAG Capital Partners has purchased a 112,400-square-foot flex industrial facility located on 40.9 acres at One Security Drive in Nicholasville, a suburb of Lexington. The Fort Worth, Texas-based firm acquired the property in a sale-leaseback deal with Los Angeles-based OpenGate Capital, parent company of the tenant, Sargent & Greenleaf. Founded in 1857, Sargent & Greenleaf is an electronic and mechanical lock manufacturer for the banking, residential, railroad and government sectors. Nick Foster of JLL’s Newport Beach, Calif., office represented MAG Capital in the transaction. The sales price was not disclosed. The property comprises 90,000 square feet of manufacturing space with 22-foot clear heights and 22,400 square feet of office space.

August 23, 2022

Development Kentucky Loans Multifamily Southeast

Thorofare Capital Provides $28M Construction Loan for NuLu Yards Apartments in Louisville

by John Nelson August 10, 2022

LOUISVILLE, KY. — Thorofare Capital Inc., a Los Angeles-based affiliate of investment manager Callodine Group, has provided $28 million in construction financing for NuLu Yards, a 189-unit multifamily project in Louisville. The Class A property will anchor a larger mixed-use development in the NuLu neighborhood of Louisville. The borrower, Weyland Ventures, is also developing the first Tempo by Hilton adjacent to NuLu Yards, as well as a structured parking deck. David Perlman, Jacob Yi and Paul Kim of Thorofare Capital originated the financing. Wave Capital Partners arranged the loan on behalf of the borrower. The construction timeline was not released.

August 10, 2022

Acquisitions Kentucky Multifamily Southeast

Rosewood Realty Negotiates $24M Sale of Apartment Community in Lexington, Kentucky

by John Nelson August 9, 2022

LEXINGTON, KY. — Rosewood Realty Group has negotiated the $24 million sale of Saddlebrook at Tates Creek, a 181-unit apartment complex located at 3543 Tates Creek Road in Lexington. Jay Weiner of Rosewood Realty represented the both the seller, Birmingham, Ala.-based Engel Realty Co., and the buyer, Wicker Park Capital Management, a real estate investment firm with offices in Savannah, Birmingham and Atlanta. Built in 1974, the market-rate apartment community features a clubhouse and a fitness center. Wicker Park plans to update both interior units and amenities during its ownership period, according to Weiner.

August 9, 2022

Acquisitions Hospitality Kentucky Southeast

Huff, Niehaus Brokers Sale of 81-Room Comfort Suites Airport Louisville Hotel

by John Nelson August 3, 2022

LOUISVILLE, KY. — Huff, Niehaus & Associates, Inc. has brokered the sale of the Comfort Suites Airport Louisville hotel in Louisville. The 81-room hotel is located at 6535 Paramount Park Drive, about 4.5 miles south of Louisville Muhammad Ali International Airport. Brandt Niehaus of Huff, Niehaus & Associates brokered the transaction. According to the property website, the hotel features an indoor heated pool, fitness center, laundry services, free airport transportation and a full buffet breakfast for guests. The undisclosed buyer has several Choice hotels in its portfolio and plans to use a third-party management company to operate the Comfort Suites Airport Louisville. The seller and sales price were not disclosed.

August 3, 2022

Acquisitions Hospitality Kentucky Southeast

Huff, Niehaus Brokers Sale of 81-Room Comfort Suites Airport Louisville Hotel

by John Nelson August 3, 2022

August 3, 2022

Acquisitions Kentucky Office Southeast

Albany Road Acquires Two-Building Office Campus in Louisville for $42.5M

by John Nelson July 27, 2022

LOUISVILLE, KY. — Albany Road Real Estate Partners, an investment firm based in Boston, has purchased Hurstbourne Park & Place, a two-building office campus located off Shelbyville Road in Louisville. The seller and sales price were not disclosed, but Louisville Business First reports that the 344,000-square-foot campus sold for $42.5 million. Hurstbourne Park & Place was 93 percent leased at the time of sale to tenants including Bank of America, Carewise Health, New York Life, Stantec, DMLO and Central Bancshares, which together boast an average tenure of over 17 years. Patterson Real Estate Advisory Group arranged acquisition financing through First Horizon on behalf of Albany Road. This is the firm’s first investment in the Louisville trade area.

July 27, 2022

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MDH Partners Sells 58-Property Sunbelt Logistics Portfolio Located Across 10 States for $1.3B

by Katie Sloan June 30, 2022

ATLANTA — MDH Partners has sold its 58-property Sunbelt Logistics Portfolio to an undisclosed global institutional investor for $1.3 billion. MDH will retain an ownership stake in the portfolio and will continue to operate the properties. The portfolio spans 9.7 million square feet of industrial space across 10 states, including 11 properties in Georgia; 10 properties in Florida; eight properties in Texas; seven properties each in Arizona and Missouri; four properties each in Tennessee and North Carolina; two properties each in South Carolina and Virginia; and one property in Kentucky. The final two properties include nearly 675,000 square feet of newly constructed buildings in Nashville and Charlotte that were constructed with CarbonCure, a technology for the concrete industry that introduces recycled carbon dioxide into fresh concrete to reduce its carbon footprint. The portfolio consists of modern, state-of-the-art industrial and bulk distribution properties with an average size of 169,000 square feet. The properties feature average clear heights of 30 feet with 130-foot truck courts. The portfolio was 97 percent occupied at the time of sale by more than 100 regional, national and international tenants with an average remaining lease term of 5.7 years. “This diversified portfolio provides immediate scale and operating …

June 30, 2022

Development Kentucky Retail Southeast

Skilken Gold Breaks Ground on First Kentucky Publix Grocery Store in Louisville

by John Nelson June 29, 2022

LOUISVILLE, KY. — Skilken Gold has broken ground on Terra Crossing, a shopping center located on 10 acres at 2500 Terra Crossing Blvd. in Louisville. The grocery anchor, a 55,071-square-foot Publix, represents the first Publix location in Kentucky, the Lakeland, Fla.-based grocer’s eighth state of operation. The adjacent 3,200-square-foot Publix Liquors store at Terra Crossing is also the first location outside the state of Florida. Publix plans to open a second Publix grocery store and Publix Liquors store in Louisville in early 2024 at the northeast corner of Ballardsville and Brownsboro roads. In addition to the Terra Crossing groundbreaking, Publix announced it has signed a lease to anchor The Fountains at Palomar shopping center in Lexington, marking the third location announced in Kentucky for Publix. The 55,701-square-foot Publix store and 3,200-square-foot Publix Liquors store are set to open in late 2024.

June 29, 2022

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