CHICAGO – JLL announced today that it has closed the $38 million sale and arranged $27.4 million in financing for Echelon at Middletown, a 210-home, garden-style apartment community located in Louisville, Kentucky’s affluent East End submarket.

JLL marketed the property exclusively on behalf of the seller, The Garrett Companies, and procured the buyer, Brookview Realty Group. Additionally, JLL worked on behalf of the new owner to secure the 10-year, fixed-rate Fannie Mae loan. The loan will be serviced by Jones Lang LaSalle Multifamily, LLC, a Fannie Mae DUS lender.

Echelon at Middletown is situated on 12.55 acres at 400 Echelon Way approximately 17 miles east of downtown Louisville in the East End, which is home to stately mansions, top public and private schools and a concentration of top employers. Completed in 2017, the property features a variety of one-, two- and three-bedroom units averaging 1,080 square feet with community amenities, including a resort-style pool and spa, grilling stations, poolside fire pit, off-leash pet park, clubhouse, resident lounge, business center and fitness center with yoga studio. The property also includes 358 surface, attached and detached garage parking spaces.

The JLL Capital Markets team representing the seller was led by Senior Director Wick Kirby, Managing Director Marty O’Connell, Director Kevin Girard and Analyst Kyle Butler.

JLL’s Capital Markets debt placement team representing the new owner was led by Senior Managing Director Dave Keller and Analyst Nelson Almond.