JEFFERSONVILLE, IND. — S&S Properties has acquired Lakeside Gardens, a 360-unit asset located at 4101 Herb Lewis Road in Jeffersonville, just across the Ohio River from Louisville, Kentucky. A joint venture between Denton Floyd Real Estate Group, LDG Development and a private investor sold the property for $67.15 million.
Built in 2022, Lakeside Gardens features a mix of one-, two- and three-bedroom units. The average unit size is 1,244 square feet. The community was 95 percent occupied at the time of sale. According to Apartments.com, residents have access to amenities such as a pool, fitness center, playground and clubhouse.
JLL Capital Markets represented the sellers in the deal. Additionally, JLL worked on behalf of the borrower to secure a $42.7 million Fannie Mae loan to finance the acquisition. The seven-year, fixed-rate will be serviced by JLL Real Estate Capital LLC.
Amanda Friant, Mark Stern and Colleen Watson led the JLL Capital Markets Investment and Sales Advisory team. Medina Spiodic, Matthew Schoenfeldt and Becca Brielmaier led the JLL Capital Markets Debt Advisory team that represented the borrower.