Brentlinger Park | UNDER AGREEMENT Louisville, KY

***OFFERS DUE TUESDAY, JULY 9th***

***ACCESS FINANCIALS AND OM BY VISITING THE LISTING WEBSITE FOR BRENTLINGER PARK***

Silvestri Real Estate is pleased to present the exclusive listing of Brentlinger Park Townhomes, in Louisville, Kentucky.  With a history of developing high-end townhomes communities, the builders have positioned Brentlinger Park in a strong, emerging submarket in the highly sought-after Louisville MSA.

Featuring 113-units, Brentlinger Park has an attractive unit mix of all 2-bedroom, 2 1/2 – bathroom floorplans.  Every townhome features full size washer and dryer hookups, high efficiency HVAC systems, undermounted kitchen cabinet lighting, and forward-thinking Wi-Fi docking stations.

Community features include 24-hour parcel lockers/mail room, playground, two bark parks, and a fitness center.  Located just outside I-265 (Gene Snyder Freeway), nearby retail anchors include Chick-fil-A, Starbucks, Chipotle, Panera Bread, First Watch, Chicken Salad Chick, Crumbl Cookies, McDonald’s, Kohl’s, Hy-Vee Grocery (under construction), and more.

Growth opportunity lies in below market rents, with a very similar nearby community achieving average effective rents of nearly $250/month/unit more than Brentlinger Park.

The final Certificate of Occupancy was received in September of 2023 and stabilization (90% occupancy) was achieved in April 2024 allowing the asset to qualify for agency debt.

WALKING DISTANCE TO STRONG RETAIL ANCHORS  – Located just outside I-265 (Gene Snyder Freeway), Brentlinger Park is nearby recently developed locations for McDonald’s, Starbucks, Chick-fil-A, Panera Bread, Chipotle, First Watch, Buff City Soap, Crumbl Cookies, Chicken Salad Chick Heine Brothers Coffee, 7-Brew Coffee, and Popeye’s.  Hy-Vee Grocery Store is currently under building a 150,000 square foot facility approximately a half-mile away.

RECENT OCCUPANCY STABILIZATION OFFERS LOSS-TO-LEASE GROWTH – Final certificate of occupancy was received in December 2023, while stabilization (90% occupancy) was achieved in April 2024.  Average effective rents from lease up are currently $1,592.  A rent study concluded that Brentlinger Park’s average effective rent to be approximately $250/unit below neighboring comps.  Specifically, Redwood Bardstown Bluff offers all two-bedroom semi-detached homes of comparable size for $2,099/month.  We have modeled market rents for Brentlinger Park at $1,875/month for end units and $1,825/month for non-end units, leaving a comfortable and achievable margin between the subject property and it’s most accurate competitor.

***ACCESS FINANCIALS AND OM BY VISITING THE LISTING WEBSITE FOR BRENTLINGER PARK***