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Fairstead, Keybank Real Estate Capital Acquire $52M, 16-Multifamily Kentucky Portfolio
Fairstead and KeyBank Real Estate Capital have acquired 950 units of affordable housing for families and seniors across KY for $52 million. With the acquisition, Fairstead now owns nearly 1,300 units across Kentucky.
The portfolio consists of 16 properties located in Louisville, Bardstown, Barbourville, Hardin, Hodgenville, Lexington, Mayfield, New Haven, Scottsville, Shepherdsville and Radcliff. The residences are a mix of family and senior housing and are affordable through U.S. Department of Housing and Urban Development Section 8 and LIHTC programs.
Fairstead entered the KY market in 2020 with the acquisition of the Colony Apartments, a 137-unit affordable senior housing property in Covington. In 2021, Fairstead acquired Cambridge Square, a 200-unit affordable property for families also in Covington that is undergoing a $12 million overhaul.
The firm’s national footprint includes more than $6 billion in assets and identified pipeline, and it manages more than 90 communities across the US.
- ◦Sale/Acquisition
