Opportunity

A 210-Unit, Big House-style, joint-venture apartment development in Louisville, KY. The submarket benefited from very little supply of apartments delivered in recent years due to difficult land use regulations and lack of available sites. Site is within walking distance of Target, Kroger and various restaurants. In October 2019, Echelon at Middletown was sold after reaching stabilization, generating an 18.0% IRR and an Equity Multiple of 1.8 to 1.