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Stoneweg US Acquires Multifamily Property In Louisville, KY For $230M

Property Image
SOLD
$230,000,000
Jay Weiner
Jonathan Brody
Aaron Jungreis

Kentucky

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MultiFamily
Sold 12/29/2021
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Property Image
SOLD

Stoneweg US Acquires Multifamily Property In Louisville, KY For $230M

700 Landis Ridge Drive

See Similar Deals
MultiFamily
Sold 12/29/2021
Jay Weiner
Jonathan Brody
Aaron Jungreis
the dealplayerscompscontact
Contact now

Summary

KENTUCKY
Asset Type:MultiFamily
Transaction Type:Sale

An multifamily property has been sold in Louisville, KY for a total price of $230,000,000. The property, located at 700 Landis Ridge Drive & 400 Mallard Creek Road, consists of 1,246 units. The sale price per unit (PPU) was calculated at $184,590.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $230,000,000
  • Units: 1,246
  • Price Per Unit: $184,590

The buyer in this transaction was Stoneweg US, represented by Charles Ackerman. The seller was Lifestyle Communities, represented by Jack Knowles. The deal was facilitated by Jonathan Brody and Jay Weiner of Rosewood Realty Group.

Players

Aaron Jungreis
Rosewood Realty Group
Aaron Jungreis
202 deals$4.3B volume(212) 359-9900
BROKER
Jonathan Brody
Base Realty Group
Jonathan Brody
48 deals$1.7B volume(516) 507-0193
BROKER
Jay Weiner
Rosewood Realty Group
Jay Weiner
7 deals$611.9M volume
BROKER
SU
Stoneweg US
BUYER

Details

SOLD
IMAGE: Jonathan Brody & Jay Weiner DATE: 12/29/2021 ADDRESS: 700 Landis Ridge Drive & 400 Mallard Creek Road MARKET: Louisville, KY ASSET TYPE: Multifamily BUYER: Stoneweg US - Charles Ackerman SELLER: Lifestyle Communities - Jack Knowles BROKERS: Jonathan Brody & Jay Weiner @RosewoodRG SALE PRICE: $230,000,000 UNITS: 1,246 ~ PPU: $184,590

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$12,266,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$817,141.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,090,317.34
Annual Debt Service$13,083,808.09