Descriptif

Jones Lang LaSalle Americas, Inc. ("JLL"), a licensed real estate broker, is pleased to present Germantown Mill Lofts ("GML"), a 189-home award-winning apartment community and 19,125 sf of commercial space, and Swiss Village ("SV"), a 41-home community featuring both apartments and new construction townhomes. Located just five-minutes apart in Louisville's trendy Germantown & Schnitzelburg neighborhoods, the communities cater to young professionals and an eds & meds renter base feeding from nearby University of Louisville ("UofL") and multiple hospitals. Both properties consistently achieve top-of-market property performance with 97%+ economic occupancyfor the last six months and 3% average rent growth on new lease trade outs and 4% on renewals since January.

Southeast of downtown Louisville, the Germantown & Schnitzelburg neighborhood is renowned for its 19th-century German heritage and features colorful historic shotgun homes, excellent walkability, and a vibrant bar and restaurant scene. Both properties offer access to the thriving Goss Avenue retail corridor of local restaurants and retail, the neighborhood Kroger, and convenient access to I-65 for a 10-minute commute to downtown Louisville and top employers such as UPS, Norton Healthcare, Ford, Humana, UofL Health, Baptist Health, GE Appliances, Brown-Forman, and several other Fortune 1000 companies.

This 2-Pack is owned and managed by Underhill Associates and may be purchased together to continue in-place operating efficiencies or separately. For GML, an investor may either assume the accretive Fannie Mae loan that matures November 2031 (3.72% blended interest rate) or purchase free and clear. SV is available on a free and clear basis.

Doug Owen - KY License #: 198490

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Attributs

Superficie du bâtiment brute

17 756 mètres carrés

Média

Points forts de l'investissement

Ideal Investment Opportunity
Opportunity for scale in growing Midwest/Sunbelt Market
Major income upside from near full occupancy, unharvested rent growth, & expense trimming
Eds & Meds renter base & strong demographics
Highly differentiated, exceptionally maintained Core+ Communities

In Demand Submarket & Neighborhood
Trendy, walkable Germantown locations are steps to restaurants, bars, & grocery (83 Walk Score for GML is Top 5 in MSA)
Less than 10 minutes to UofL, UofL Hospital, Norton Audubon Hospital, & downtown Louisville
$400,000 renovated area home prices, $100,000+ average household income
No apartments under construction in Crescent Hill submarket

Award-winning Masterpiece Conversion (GML)
Most bespoke rental option in MSA consistently attracts sophisticated, affluent renter base
Compelling interior value-add opportunity
98% average economic occupancy for last six months
3% rent growth on new leases and 4% on renewals starting in 2026
Fully-leased, on-site amenity retail—Brewery & Gym

Best-of-both-worlds Community (SV)
Mix of new townhomes & converted apartments appeals to full renter spectrum
New townhomes with garages are highly desirable & non-existent in historic residential neighborhood
99% average economic occupancy for last six months
4% rent growth on new leases and 4% on renewals starting in 2026
Profitable furnished unit rental program