Press Releases
Marcus & Millichap Arranges Sale of 73-Unit Multifamily Portfolio in Frankfort, Kentucky
July 21, 2025
FRANKFORT, Kent., July 21, 2025 – 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 a 73-unit, 9-building multifamily portfolio in Frankfort, Kentucky.
“With 28% of the local workforce employed in public administration, this portfolio is well positioned to continue serving the housing needs of government and local workers,” said Sam Kramer, associate director investments. “Frankfort has historically been overlooked by investors due to its proximity to larger metros, but we’re seeing a noticeable shift in sentiment. With strong fundamentals and a diverse economic base in education, healthcare, manufacturing and tourism, Frankfort is increasingly viewed as a smart long-term investment market.”
Kramer, Aaron Kuroiwa and Tony Rogers, investment specialists in Marcus & Millichap’s Indianapolis office, had the exclusive listing to market the property on behalf of the long-term owner, who held the assets for an average of 19 years. They also secured the buyer, an active Louisville-based investor.
The portfolio comprises 73 units across 9 buildings located within a one-mile radius in Frankfort, Kentucky. The properties feature a unit mix of four studios, 57 one-bedroom units and 12 two-bedroom units, and were built between 1939 and 1987. Positioned in the state’s capital, the portfolio benefits from strong rental demand driven by public administration, healthcare, education and manufacturing employment.
The properties are located at 176 Thistlewood Dr., 201-203 W. Campbell St., 213 W. Third St., 216 Briar Cliff Rd., 407 Owenton Ave., 429 Logan St., 501-503 Steele St., 506 Steele St. and 903 Crosshill Dr.
“With 28% of the local workforce employed in public administration, this portfolio is well positioned to continue serving the housing needs of government and local workers,” said Sam Kramer, associate director investments. “Frankfort has historically been overlooked by investors due to its proximity to larger metros, but we’re seeing a noticeable shift in sentiment. With strong fundamentals and a diverse economic base in education, healthcare, manufacturing and tourism, Frankfort is increasingly viewed as a smart long-term investment market.”
Kramer, Aaron Kuroiwa and Tony Rogers, investment specialists in Marcus & Millichap’s Indianapolis office, had the exclusive listing to market the property on behalf of the long-term owner, who held the assets for an average of 19 years. They also secured the buyer, an active Louisville-based investor.
The portfolio comprises 73 units across 9 buildings located within a one-mile radius in Frankfort, Kentucky. The properties feature a unit mix of four studios, 57 one-bedroom units and 12 two-bedroom units, and were built between 1939 and 1987. Positioned in the state’s capital, the portfolio benefits from strong rental demand driven by public administration, healthcare, education and manufacturing employment.
The properties are located at 176 Thistlewood Dr., 201-203 W. Campbell St., 213 W. Third St., 216 Briar Cliff Rd., 407 Owenton Ave., 429 Logan St., 501-503 Steele St., 506 Steele St. and 903 Crosshill Dr.
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About Marcus & Millichap, Inc. (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, 2024, the company had 1,712 investment sales and financing professionals in over 80 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 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
