- Incredible Basis Relative to Recent Trades in the Submarket
- Low Vacancy in a Submarket that Continues to See High Rent Growth
- Great Connectivity | Proximate to Key Demand Drivers and Major Retail
- Light Value-Add Opportunity to Move Rents to Market
- Significant Upside in Capturing RUBS
- Offered Free & Clear of Existing Debt
Incredible Basis Relative to Recent Trades in the Submarket
Bridge Creek Apartments presents a remarkable investment opportunity as it is being offered at an extraordinary basis in comparison to recent trades within the thriving Louisville submarket. The property’s remarkable basis allows prospective buyers to capitalize on the increasing demand for high quality rental housing while enjoying an advantageous position in the market.
Low Vacancy in a Submarket that Continues to See High Rent Growth
Offering an affordable cost of living and growing median household incomes, the Louisville metro area has experienced steady population growth. Demand for multifamily housing remains high, resulting in low vacancy rates. Bridge Creek Apartments has historically experienced low vacancy rates, and at the time of this analysis, vacancy is at 6%.
Great Connectivity | Proximate to Key Demand Drivers and Major Retail
The strategic location of Bridge Creek Apartments allows for a diversified tenant base and steady demand. With easy access to Interstate 264, Bridge Creek Apartments offers convenient connectivity to everything downtown Louisville has to offer, including retail, restaurants, entertainment, and major employers. The flagship university in the region, the University of Louisville, enrolls over 23,000 students and is only a few minutes away from the property.
Less than ten minutes from the property, the Louisville Muhammad Ali International Airport has recently received significant capital investment from UPS, the metro’s largest employer. A $750 million capital investment will span numerous capital improvement projects and result in the addition of 1,000 new jobs by 2024.
Roughly ten minutes from the property is the UPS Worldport Freight Facility. Spanning 5.2 million square feet, WFF is the largest fully automated air packaging operation in the world, boasting approximately 7,000 employees.
