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Acendion Collective Secures $48 Million Loan For 273-Unit Development Site In Ludlow KY

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FINANCED
$48,000,000

Kentucky

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Development Site
Financed 10/03/2025
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Property Image
FINANCED

Acendion Collective Secures $48 Million Loan For 273-Unit Development Site In Ludlow KY

205 Highway Avenue

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Development Site
Financed 10/03/2025
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Summary

KENTUCKY
Asset Type:Development Site
Transaction Type:Loan

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.

Players

Associated Bank
Associated Bank
LENDER
First Financial Bank
First Financial Bank
LENDER

Details

FINANCED
IMAGE: 10/03/2025 ADDRESS: 205 Highway Avenue MARKET: Ludlow, KY ASSET TYPE: Development Site ~ UNITS: 273 LENDER: First Financial Bank & Associated Bank LANDLORD: Acendion Collective LOAN AMOUNT: $48,000,000 LOAN TYPE: Construction NOTE: First Financial Bank and Associated Bank provided $48 million in financing for Acendion Collective’s 273-unit apartment project within the 65-acre Cityview Station development in Ludlow, Kentucky.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$48,000,000.00

Monthly NOI$320,000.00
Monthly Debt Service$303,392.65
Change in Cash Flow$0.00
Refinance Proceeds$0.00