Albany Road Real Estate Partners Acquires Office Property In Louisville, KY For $42.5M
9300 Shelbyville Road, Louisville, Kentucky 40222, United States
$42,500,000
$123/SF
Building Size
343,835 SF
Asset Type
Office
Closing
Jul 12, 2022
About this deal
AI
Albany Road Real Estate Partners Fund III has acquired an office property located at 9300 Shelbyville Rd in Louisville, KY. The property spans 343,835 square feet and was sold for $42,500,000, resulting in a price per square foot of $124. Craig Collins, Austin English, and Cody Hundertmark from Cushman & Wakefield represented the buyer in this transaction.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $42,500,000
- Address: 9300 Shelbyville Rd, Louisville, KY
- Market: Louisville, KY
- Buyer: Albany Road Real Estate Partners Fund III
- Brokers: Craig Collins, Austin English, Cody Hundertmark - Cushman & Wakefield
- SF: 343,835
- PPSF: $124
The buyer, Albany Road Real Estate Partners Fund III, made this significant acquisition with the assistance of their brokers from Cushman & Wakefield, namely Craig Collins, Austin English, and Cody Hundertmark. This transaction highlights the strong real estate activity in the Louisville, KY market.
Players
Louisville Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.37%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93