Updated Oct 14, 2025
Acendion Collective Secures $48 Million Loan For 273-Unit Development Site In Ludlow KY
205 Highway Avenue
$48,000,000
Units
273
Asset Type
Development Site
Closing
Oct 3, 2025
About this deal
AI
The asset involved in this transaction is a development site located at 205 Highway Avenue in Ludlow, KY. This site is set to accommodate a total of 273 units as part of a larger 65-acre Cityview Station development. The loan associated with this project amounts to $48 million and is designated for construction purposes.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $48,000,000
- Market: Ludlow, KY
- Units: 273
- Lender: First Financial Bank & Associated Bank
- Landlord: Acendion Collective
- Loan Type: Construction
The key stakeholders in this transaction include the lenders, First Financial Bank and Associated Bank, who provided the financing for the project spearheaded by Acendion Collective. This strategic loan supports the development of the apartment project within the Cityview Station development initiative.
On the Map
$48,000,000
Development Site
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Covington Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.33%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93