Morgan Properties Acquires 236-Unit Blankenbaker Crossings Multifamily In Louisville For $39M

The property asset involved in the transaction is Blankenbaker Crossings, a multifamily apartment community located at 2515 Shining Water Drive, Louisville, KY. This community consists of 236 units and was sold for $39 million, resulting in a price per unit of $165,254.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $39,000,000
• Address: 2515 Shining Water Drive
• Market: Louisville, KY
• Units: 236
• PPU: $165,254
• Buyer: Morgan Properties
• Broker Representatives: Craig Collins & Mike Kemether - Cushman & Wakefield

The transaction marks Morgan Properties' first acquisition in Kentucky, emphasizing their expansion strategy. Craig Collins and Mike Kemether from Cushman & Wakefield represented the brokerage side of the deal.