Matthews™ Closes Sale of Kentucky Apartment

Kentucky Apartment Sale

 

Louisville, KY — Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, handled the $4,850,000 sale of Vaughan Village Apartments, located at 100 Crimson Creek Drive, Elizabethtown, KY. Matthews™ Associate Ellie Funk, Senior Associate Austin Tomaiko, and Vice President and Associate Director Austin Graham represented the seller in the transaction.

 

The multifamily property features 48 duplex-style units on a 9.17-acre lot. Originally built in 1996, Vaughan Village is positioned in the heart of Elizabethtown, only 10 miles north of Ford’s new electric vehicle plant.

 

“We partnered up with Merchants Capital, who originated the initial HUD loan for the seller in 2020. With guidance from the best in the business, at Dinsmore, we submitted a TPA (Transfer of Physical Assets) and waited patiently for HUD’s feedback,” Funk said. “Given the strength of the buyer’s track record and existing portfolio in the market, HUD granted the preliminary approval in a short time- allowing the buyer to close and assume the existing loan with 30 years remaining at a 2.5% fixed interest rate. The road to closing was at times lengthy and intricate, requiring all hands on deck, but was ultimately well worth the wait to achieve the goals of both the buyer and the seller.”

 

For more information or to contact a Matthews™ specialized agent, please visit www.matthews.com.

 

About Matthews™

Matthews Real Estate Investments Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 1,000 agents and employees in 25+ offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.