Press Releases
Marcus & Millichap Brokers $14.1M Sale and Financing of 84-Unit Multifamily Property in New Albany, Indiana
May 04, 2026
NEW ALBANY, Ind., May 4, 2026 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale and financing of The Villas at Green Valley, an 84-unit multifamily property in New Albany, Indiana. The property sold for $14.1 million. Marcus & Millichap Capital Corporation (MMCC), a subsidiary of Marcus & Millichap, arranged $9.2 million in acquisition financing.
“This was a very clean transaction involving a high-quality, newer construction asset,” said Tony Rogers, senior director investments. “The buyer completed a 1031 exchange, consolidating multiple California properties into a single asset in New Albany, increasing unit count while upgrading into a newer community.”
Rogers and Aaron Kuroiwa, investment specialists in Marcus & Millichap’s Indianapolis office, had the exclusive listing to market the property on behalf of the seller, a southern Indiana-based developer, and procured the buyer, a California-based investor.
Chad O’Connor, executive managing director, capital markets, based in the firm’s San Diego office, secured the $9.2 million financing with a national bank on behalf of the buyer. The loan features a 10-year term at 65% loan-to-value with a 5.85% interest rate and 30-year amortization period.
The Villas at Green Valley is situated on 2.19 acres at 2406 Green Valley Road in the Louisville MSA. Built in 2023, the property features a mix of one-, two- and three-bedroom floor plans across 93,840 rentable square feet. It is located off Interstate 265, with Louisville and the River Ridge Commerce Center within a 15-minute drive. The new ownership plans to enhance the amenity package by utilizing additional green space.
“This was a very clean transaction involving a high-quality, newer construction asset,” said Tony Rogers, senior director investments. “The buyer completed a 1031 exchange, consolidating multiple California properties into a single asset in New Albany, increasing unit count while upgrading into a newer community.”
Rogers and Aaron Kuroiwa, investment specialists in Marcus & Millichap’s Indianapolis office, had the exclusive listing to market the property on behalf of the seller, a southern Indiana-based developer, and procured the buyer, a California-based investor.
Chad O’Connor, executive managing director, capital markets, based in the firm’s San Diego office, secured the $9.2 million financing with a national bank on behalf of the buyer. The loan features a 10-year term at 65% loan-to-value with a 5.85% interest rate and 30-year amortization period.
The Villas at Green Valley is situated on 2.19 acres at 2406 Green Valley Road in the Louisville MSA. Built in 2023, the property features a mix of one-, two- and three-bedroom floor plans across 93,840 rentable square feet. It is located off Interstate 265, with Louisville and the River Ridge Commerce Center within a 15-minute drive. The new ownership plans to enhance the amenity package by utilizing additional green space.
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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, 2025, the company had 1,808 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 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
