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Rosewood Closes $230M Stoneweg Deal for Louisville Apartments
New York City-based Rosewood Realty Group arranged the $230-million sale of a 1,246-unit multifamily portfolio in southeast Louisville, KY. The firm’s Jonathan Brody, president of national sales, and senior broker Jay Weiner represented both the buyer, Stoneweg US, and the seller, Lifestyles Communities.
The properties include Middletown Landing, a 646-unit complex of 33 three-story walkup buildings at 700 Landis Ridge Dr. in Louisville; and the 600-unit Mallard Crossing at St. Matthews at 400 Mallard Creek Rd. in Saint Matthews, KY.
“St. Matthews, built in the late 1980s, had a clear value-add play giving the buyer, Stoneweg, the ability to not only increase rents, but enhance better living for the tenants,” said Brody. “Middletown, built in 2014 has strong cash flow and with little to no deferred maintenance, giving Stoneweg a turnkey property.”
This sale represents the 80th closed transaction over the past year for Rosewood. ‘We are poised for a strong 2022 as the sales market continues to heat up locally and nationally,” said Rosewood Realty Group founder Aaron Jungreis.
- ◦Sale/Acquisition
