CHICAGO, IL – Holliday Fenoglio Fowler, L.P. (HFF) announces it has closed the sale of Hurstbourne Estates, a 270-home, luxury, garden-style apartment community located in the East End of Louisville, Kentucky.
HFF marketed the property on behalf of the seller, Inland Residential Properties Trust, Inc. (a member company of The Inland Real Estate Group of Companies, Inc.), and procured the buyer, Peak Capital Partners.
Hurstbourne Estates is located at 10405 Watermark Place with easy access to downtown Louisville and a multitude of demand drivers, including Churchill Downs, Louisville Slugger Field, Kentucky International Convention Center, University of Louisville and the KFC Yum! Center. Completed in 2014, the 17-building property comprises a mix of one-, two- and three-bedroom floor plans that average 1,059 square feet. Units feature granite counters, Shaker-style espresso cabinets, energy-efficient appliances, wood-style flooring, crown molding, in-unit washers and dryers, patios or balconies, open layouts and oversized closets with built-in shelving. Select homes also provide private entrances and direct-access attached garages. Community amenities include manicured courtyards and walking paths, controlled access, a business center, resort-style swimming pool and sundeck, expansive fitness center, dog park, modern club house, community kitchen, recreation room with billiards table and barbeque and picnic areas. The community was 94% occupied at closing.
The HFF investment advisory team included senior director Wick Kirby, managing director Sean Fogarty, director Kevin Girard and associate Amanda Friant along with managing director Marty O’Connell, a licensed Kentucky real estate broker.
About Inland Real Estate Group of Companies, Inc. With a business track record spanning five decades, The Inland Real Estate Group of Companies, Inc., is an industry leader and one of the nation’s largest commercial real estate and finance organizations. As a business incubator, Inland specializes in creating, developing and supporting Inland member companies that provide commercial real estate-related services and alternative investment funds, including limited partnerships, institutional funds and non-listed and listed REITs, and investment advice through a registered investment advisor.
The companies that are members of The Inland Real Estate Group of Companies, Inc., which is headquartered in Oak Brook, Illinois, cumulatively employ more than 1,000 people nationwide. Inland member companies have owned and managed hundreds of millions of square feet of various commercial property types in 49 states. “Inland” refers to some or all of the entities that are part of The Inland Real Estate Group of Companies, Inc. which is comprised of independent legal entities some of which may be affiliates, share some common ownership or have been sponsored and managed by Inland Real Estate Investment Corporation or its subsidiaries.
About Peak Capital Partners: Peak Capital Partners and its affiliates own and manage conventional, affordable, and student apartment communities in growth markets in the United States. Founded in 2007, the firm owns more than 20,000 apartment units representing more than $2 billion in value. For more information, please visit: peakcapitalpartners.com
About HFF: HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.