PROVO, UT - Peak Capital Partners, a Utah-based apartment investment and management company, today announced it acquired Glenmary Village in Louisville, Ky., for $26.7 million from Kentucky-based Renaissance Development.
Glenmary Village, a 272-unit apartment community in southeast Louisville, is adjacent to Broad Run Park, which is part of the 4,000-acre Parklands of Floyds Fork scheduled to open later this year. Residents of Glenmary Village will enjoy walking to a range of activities including mountain biking, sports fields, canoeing, hiking, playgrounds and community gardens. The park encompasses Floyds Fork, the only water trail of its kind in the Louisville area.
“This is the first apartment community to be acquired by Peak in Kentucky,” said Nathan Nelson, vice president of acquisitions at Peak Capital Partners. “Glenmary Village features a spectacular location just 20 minutes from downtown providing convenient access to area employers throughout Louisville. The location also offers residents an incomparable escape from the demands of the city with one of the nation’s largest new metropolitan parks right out the front door. Among Peak’s immediate plans for Glenmary Village is a full renovation of the 5,000 square foot clubhouse which will include a Floyds Fork welcome center for the enjoyment of residents and visitors alike.”
Nelson added that the Kentucky economy is adding thousands of new jobs, especially in the areas of manufacturing, information, and professional and business services. “We are committed to adding to Peak’s Kentucky portfolio,” he said.
Built in 2003, Glenmary Village offers residents one- to three-bedroom floor plans. Peak is currently making interior improvements to all units in the community including new flooring and fixtures with LED lights. In addition to the clubhouse renovation, the fitness center is also being expanded to offer space for yoga and free weights as well as new exercise equipment.
Glenmary Village, located at 9606 Clubview Drive, offers easy access to restaurants, shopping, major interstates and outdoor recreation opportunities. For more information visit glenmaryvillage.com.
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, Peak Capital Partners owns 80 apartment communities in 19 states housing 14,000 families. Visit www.peakcapitalpartners.com