The Connor Group has paid $51.8 million for Hurstbourne Estates, a 270-unit luxury community in Louisville, Kentucky. The firm financed the purchase with a $38.2 million Freddie Mac loan issued by CBRE Capital Markets, set to mature in 2036.
Peak Capital Partners sold the property after seven years of ownership. The company obtained a nearly 14 percent premium over the asset’s 2019 sale price of $45.5 million.
Hurstbourne Estates is now the fourth Louisville community in The Connor Group’s portfolio. The firm entered the market in 2021 with the acquisition of the 500-unit Paddock at Eastpoint. The other two properties, Veranda at Norton Commons and Sawyer East End, were added in the following years…