Albany Road Real Estate Partners acquired Hurstbourne Park & Place, a two-building office portfolio totaling 344,000 square feet in Louisville, Kentucky.
Patterson Real Estate Advisory Group helped arrange the debt financing for the acquisition with First Horizon.
At the time of closing, Hurstbourne Park & Place was 93% leased to a rent toll containing 58 tenants with a weighted average lease term of 3.6 years. Tenants include Bank of America, Carewise Health, New York Life, Stantec, DMLO and Central Bancshares.
The property sits at the corner of Shelbyville Road and Hurstbourne Parkway and is only 15 minutes from both downtown Louisville and the Louisville International Airport.
The acquisition marks Albany Road’s first entry into Louisville.
