Transactions - NOVEMBER 5, 2019

Brookview Realty Group purchases garden-style apartment community in Kentucky

by Andrea Zander

Brookview Realty Group has acquired the Echelon at Middletown, a 210-home, garden-style apartment community located in the affluent East End submarket of Louisville, Ky.

The sales price was $38 million.

JLL marketed the property exclusively on behalf of the seller, The Garrett Cos. Additionally, JLL worked on behalf of the new owner to secure a 10-year, fixed-rate Fannie Mae loan. The loan will be serviced by Jones Lang LaSalle Multifamily, a Fannie Mae DUS lender.

Echelon at Middletown is situated on 12.55 acres at 400 Echelon Way approximately 17 miles east of downtown Louisville in the East End, which is home to stately mansions, top public and private schools and a concentration of top employers. Completed in 2017, the property features a variety of one-, two- and three-bedroom units averaging 1,080 square feet with community amenities, including a resort-style pool and spa, grilling stations, poolside fire pit, off-leash pet park, clubhouse, resident lounge, business center, and fitness center with yoga studio. The property also includes 358 surface, attached and detached garage parking spaces.


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