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Marcus & Millichap Arranges the Sale of a 228-Unit Apartment Building

April 21, 2022

LOUISVILLE, KY, April 21, 2022– Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Regal Park Apartments, a 228-unit apartment property located in Louisville, Kentucky, according to Josh Caruana, regional manager of the firm’s Louisville office. The asset sold for $32,500,000.

David L. Badgett Jr, an investment specialist in Marcus & Millichap’s Louisville office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was secured and represented by David L. Badgett Jr. Colby Haugness, Kentucky Broker of Record, assisted in closing this transaction.

Regal Park Apartments is located at 9400 Hurstbourne Park Blvd in Louisville, Kentucky and comprises 228 total units. Regal Park offers a variety of floorplans; 30 of the units are one bed/one bath, 150 are two bed /two bath, and 48 are three bed/two bath. These units are remarkably spacious; even the one-bedroom units are nearly 1,000 square feet. Consistently, 92 percent of the units have remained occupied.

Regal Park was built in 1972 and has seen several renovations since its construction. In recent years, Regal Park has undergone many upgrades including a complete renovation to the clubhouse. The property boasts fantastic amenities including a swimming pool, grilling area, sundeck, and spacious courtyard.

 

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About Marcus & Millichap (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.

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