The 236 unit Veranda at Norton Commons was built in 2015 and is located in one of the most desirable neighborhoods in the Louisville metro area. At the time of sale, the property was 95% occupied.

The property has exceptional household income demographics and is surrounded by destination retail. Property amenities include a clubhouse, a resident lounge with billiards, a fitness center, outdoor kitchens, dog park and dog spa, valet trash service and heated saline swimming pool.

The property owner had high expectations for pricing. The pricing goal was the most any investor had ever paid for an apartments in Kentucky on a price per unit basis.

Cushman & Wakefield | Commercial Kentucky produced a high-quality professional marketing campaign with professional materials. With this marketing campaign underway, we were able to effectively utilize our investor database, and attract new investors, to create significant interest in the sale. This campaign netted (19) offers from investors throughout the U.S.

Veranda at Norton Commons sold to an investment group for $309,000 per unit, resetting the high-water mark for multifamily price per unit in the state of Kentucky.