NEW ALBANY, IND. — Marcus & Millichap has arranged the sale and financing of The Villas at Green Valley, an 84-unit multifamily property in New Albany near Louisville. The asset sold for $14.1 million. Tony Rogers and Aaron Kuroiwa of Marcus & Millichap represented the seller, a southern Indiana-based developer, and procured the buyer, a California-based investor. Chad O’Connor of Marcus & Millichap Capital Corp. secured $9.2 million in financing through a national bank on behalf of the buyer. The loan features a 10-year term, 65 percent loan-to-value ratio, 5.85 percent interest rate and 30-year amortization period.
Built in 2023, The Villas at Green Valley is situated on Green Valley Road and features a mix of one-, two- and three-bedroom floor plans across 93,840 rentable square feet. The new ownership plans to enhance the amenity package by utilizing additional green space.