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Marcus & Millichap Closes $51M Greater Louisville MF Sale
Marcus & Millichap closed the sale of Villas of Jeffersonville, a 264-unit apartment complex in Jeffersonville, Indiana. The asset sold for $51.48 million, which equates to $195,000 per unit and a 4.7 cap rate.
The Class A apartment property was built in 2020 by Denton Floyd Real Estate Group. David Badgett Jr., first vice president of investments at Marcus & Millichap, represented the seller, Denton Floyd Real Estate Group, and procured the buyer, Peach Blossom, LLC. Josh Caruana, Marcus & Millichap’s Broker of Record in Indiana, assisted in closing the transaction.
The property is located at 3001 Peach Blossom Drive, close to Interstate 65, approximately five minutes from River Ridge Commerce Center, an 8,000-acre industrial park, and a 10-minute drive to downtown Louisville.
“Denton Floyd is committed to continuing its efforts toward building high-end housing for the citizens of Southern Indiana for decades to come,” said Tommy Floyd, co-founder and partner of Denton Floyd.
