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Rainier Realty Acquires Two Office Buildings Totaling 178,300 SF in Frankfort, Kentucky

FRANKFORT, KY. — Rainier Realty Investments has acquired two office buildings totaling 178,300 square feet in Frankfort, roughly 25 miles northwest of Lexington. The adjacent buildings are located at 1024 and 1025 Capital Center Drive, five miles from the Kentucky State Capitol. The buildings are fully leased to agencies of the State of Kentucky. The seller and sales price were not

Acquisitions, Kentucky, Office, Southeast

Brown-Forman Opens $45M Distillery on Louisville’s Whiskey Row

LOUISVILLE, KY. — Louisville-based Brown-Forman Corp. has opened Old Forester Distilling Co. at 119 W. Main St. on Louisville’s famed Whiskey Row. The 70,000-square-foot distillery represents a $45 million investment and is housed in the same building that the brand called home in the early 1900s. The distillery features a 44-foot-tall copper column still, designed and constructed by Vendome Copper & Brass Works. The new distillery will add production capacity of approximately 100,000 …

Development, Kentucky, Retail, Southeast

Berkadia Closes $20.3M Freddie Mac Refinancing for Multifamily Community in Louisville

LOUISVILLE, KY. — Berkadia has closed a $20.3 million loan for the refinancing of Southgate Landing, a 256-unit apartment community in Louisville. Charles Foschini and Christopher Apone of Berkadia arranged the seven-year, floating rate loan through Freddie Mac on behalf of the borrower, CAPREIT. Southgate Landing, constructed in 2001, features a fitness center, swimming pool, detached garages and storage

Kentucky, Loans, Multifamily, Southeast

FM Capital Originates $10M Acquisition Loan for Office Building in Florence, Kentucky

FLORENCE, KY. — An affiliate of FM Capital LLC has originated a $10 million acquisition loan for Turfway Ridge Office Park, a 217,000-square-foot office building in Florence, located roughly six miles from Cincinnati/Northern Kentucky International Airport, home to Amazon’s $1.5 billion Prime Air cargo hub. The borrower, a Los Angeles-based real estate investor, acquired the asset from a special servicer via an auction process. Other terms of the bridge financing were not disclosed. The …

Kentucky, Loans, Office, Southeast

CBL Properties Inks Lease with Entertainment Retailer to Backfill Former Macy’s in Louisville Mall

LOUISVILLE, KY. — CBL Properties has signed a lease with Round1 Bowling & Amusement at Jefferson Mall, a 904,967-square-foot regional mall in Louisville. The announcement is part of the first phase of the property’s redevelopment plans. The new-to-market entertainment concept will backfill the space formerly occupied by Macy’s. Construction on the new space is currently underway. Round1 offers bowling, an arcade, karaoke, billiards, food and beverages. As of May 2018, the …

Kentucky, Leasing Activity, Retail, Southeast

Phoenix Investors Buys Eight-Property Industrial Portfolio in Kentucky for $9.3M

MILWAUKEE — Affiliates of Milwaukee-based Phoenix Investors have acquired an eight-property industrial portfolio located throughout Kentucky for $9.3 million. The properties total 831,000 square feet and are located in Morehead, Carrollton, Danville, Maysville and Mount Sterling. Affiliates of Pope Cos. sold the properties, which were constructed between 1989 and 2004. The new owners plan to renovate the portfolio, which was 63 percent leased at the time of sale, and find new tenants for the …

Acquisitions, Industrial, Kentucky, Southeast

Providence Sells Interest in 14-Property Multifamily Portfolio Located Throughout Southeast

GLENVIEW, ILL. — Glenview-based Providence, the parent company of Providence Management Co. LLC, has sold its interest in a 14-property, 3,451-unit multifamily joint venture portfolio located throughout the Carolinas, Alabama, Georgia and Kentucky. In North Carolina, the portfolio included three properties in Charlotte and three properties in Greensboro. In South Carolina, the portfolio included three properties in Greenville and a property in Spartanburg. In addition, the portfolio included …

Acquisitions, Alabama, Georgia, Kentucky, Multifamily, North Carolina, South Carolina, Southeast

Omni Hotels & Resorts Opens Hotel Portion of $300M Mixed-Use Project in Downtown Louisville

LOUISVILLE, KY. — Omni Hotels & Resorts has opened the 612-room Omni Louisville Hotel in downtown Louisville. The project created roughly 400 permanent jobs and represents a $300 million investment by Omni Hotels & Resorts and the metro Louisville government. The hotel features dining concepts including the Library Bar, The Water Co. and Texas-based Bob’s Steak & Chop House. The hotel is also home to Falls City Market, an urban market and food hall that offers food, beverages …

Hospitality, Kentucky, Mixed-Use, Southeast

Mid-America Brokers $59.8M Sale of Two Kroger-Anchored Centers in Lexington

LEXINGTON, KY. — Mid-America Real Estate Corp. has brokered the $59.8 million sale of two Kroger-anchored shopping centers in Lexington: Tates Creek Centre and Millpond Center. Branch Properties acquired both assets in a single transaction. Joe Girardi of Mid-America arranged the sale on behalf of the seller, Weingarten Realty. The 196,028-square-foot Tates Creek Centre is home to tenants such as Proof Fitness, Rite Aid, MOD Pizza, PNC Bank and H&R Block. Millpond Center totals 124,498 …

Kentucky, Retail, Southeast

CBRE Secures $56.9M in Acquisition Financing for Apartment Portfolio in Carolinas, Kentucky

SAN DIEGO — CBRE has arranged $56.9 million in acquisition financing for three apartment communities located in South Carolina, North Carolina and Kentucky. Bill Chiles, Scott Peterson and Brian Cruz of CBRE’s San Diego office secured the floating-rate loans through Freddie Mac on behalf of the buyer, San Diego-based Strata Equity Group. The properties included in the transaction are the 183-unit Veridian Spartanburg in Spartanburg, S.C.; the 180-unit Icon on the Greenway in Gastonia, …

Kentucky, Loans, Multifamily, North Carolina, South Carolina, Southeast
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