OWENSBORO AND PADUCAH, KY. — DLP Real Estate Capital has acquired the Chandler Park multifamily property portfolio, which consists of two Kentucky communities in Owensboro and Paducah. The 560-unit portfolio includes one-, two- and three-bedroom units and marks DLP’s first expansion in Kentucky. The seller, Chandler Apartment Homes, sold Owensboro for $35.4 million and Paducah for $25.7 million.
Built in 2014, the 320-unit Chandler Park, Owensboro is located at 3750 Ralph Ave. The property sits on over 17 acres with 17 residential buildings and includes a swimming pool, fitness center and green space with grills. The apartments have open floor plans, patios and balconies, stainless steel appliances, granite countertops and are pet-friendly.
Built in 2016, the 240-unit Chandler Park, Paducah is located at 2651 Perkins Creek Drive. The property sits on almost 12 acres with seven apartment buildings and includes a swimming pool, fitness center, clubhouse and dog park. The apartments have open floor plans, stainless steel appliances with granite countertops, private patios and balconies and are pet-friendly.
Brian Devlin, Brandon Wilson and John Seale of The Kirkland Co. brokered the portfolio sale. Kirkland Co., based in Nashville, is a brokerage firm that specializes in the sale of apartment communities across the Southeast.