Northmarq’s Nashville Multifamily Investment Sales team completes $15.975M sale of Lexington apartment portfolio

LEXINGTON, Ky. — Northmarq’s Multifamily Investment Sales team, led by Jordan Arand, Adam Klenk, Austin Heithcock, Quentin Nichols and Blake Wiser in Nashville and Bobby Schiavone and Chris Mills in Louisville, successfully completed the $15.975 million sale of two garden apartment communities:  Valleyfield (2875 Palumbo Dr) and Ridgewood (2170 Fort Harrods Dr), in Lexington, Kentucky. The buyer was Eden Companies.

“This portfolio represented a compelling opportunity for Eden Companies to secure a strong in-place yield with meaningful value-add potential,” Arand said. “Lexington’s continued economic and population growth provides a solid runway for long-term performance, and we’re pleased to have facilitated a smooth transaction that met the objectives of both parties.”

Ridgewood (pictured above) features studio, one- and two-bedroom apartment units. The community, built in 1984 and including 113 units, features single-story living facility features private entrances, a laundry facility, courtyard and grill, and a convenient location near major employers, restaurants, schools, retail and Keeneland. Units offer a private patio or balcony, 24-hour maintenance, extra storage, linen closets, ranch-style single story living and vaulted ceilings.

Valleyfield (pictured below) features studio, one-, two- and three-bedroom units with a private patio or balcony, on-site laundry, extra storage, vaulted ceilings, 24-hour maintenance, linen closets, professional on-site management and a pet-friendly environment. The community was built in 1985 and features 83 units. It is conveniently located near public transportation, Man o’ War Blvd with a short drive to Interstate 75, and a variety of convenient shopping, restaurants and entertainment nearby.