$67.15M sale and $42.68M financing secured for luxury multi-housing community in Southern Indiana
JLL Capital Markets facilitates sale and loan for Lakeside Gardens in the Louisville MSA
CHICAGO, Jan. 30, 2025 – JLL Capital Markets announced today that it has secured the $67.15 million sale and $42.68 million acquisition financing for Lakeside Gardens, a 360-home luxury apartment community in Jeffersonville, Indiana, in the Louisville MSA.
JLL represented the sellers, a joint venture partnership between Denton Floyd Real Estate Group, LDG Development and a private investor. JLL also worked on behalf of the buyer, S&S Properties, to secure a seven-year, fixed-rate Fannie Mae loan. The loan will be serviced by JLL Real Estate Capital, LLC.
Lakeside Gardens is located at 4101 Herb Lewis Rd., just two miles north of downtown Louisville in the fast-growing Southern Indiana submarket. In recent years, this area has boomed from its proximity to River Ridge Commerce Center, a key employment hub with more than 12,000 jobs across 80 companies. Additionally, residents enjoy access to excellent public schools and vibrant shopping and entertainment at the lively riverfront downtown of Jeffersonville.
Louisville ranks as the #1 U.S. rental market for year-over-year rent growth, which bolsters Jeffersonville's appeal as a vibrant and growing submarket.
Lakeside Gardens, built in 2022, offers a single-family lifestyle with an average unit size of 1,244 square feet and a mix of one-, two- and three-bedroom layouts. The community boasts a high occupancy rate of 95%, indicating strong demand for luxury living and a full amenities package in Southern Indiana.
JLL Capital Market’s Investment and Sales Advisory team was led by Director Amanda Friant, Managing Director Mark Stern and Senior Analyst Colleen Watson. JLL Capital Market’s Debt Advisory team representing the borrower was spearheaded by Director Medina Spiodic, Senior Managing Director Matthew Schoenfeldt and Associate Becca Brielmaier.
"The strong performance and strategic location of Lakeside Gardens highlight its value as a premium investment in Louisville’s vigorous rental market," said Friant. "Its proximity to economic drivers and single-family quality features ensure continued demand."
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 111,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Denton Floyd Real Estate Group
Founded in 2008, Denton Floyd Real Estate Group is a full-service real estate development company specializing in the development, construction, and property management of multifamily, senior living and industrial projects. The Company started with just over 300 units and since then has strategically grown to own and manage over 13,000 units since 2012 in Kentucky, Indiana, Florida, Tennessee, Ohio and South Carolina.
About LDG Development
Since 1994, LDG Development has been at the forefront of transforming communities. Founded based on the belief that “everyone deserves a quality place to live,” the company uses a comprehensive in-house approach that includes development, design, construction, architecture, and residential services. This approach ensures every project is handled with expertise and dedication. With more than 100 developments across 10 states and more than 25,000 units, LDG’s impact is vast. The company is committed to creating environments where residents can thrive and providing high-quality housing that fosters economic growth. LDG properties are more than just places to live—they are foundations for better lives.
About S&S Properties
S&S Properties Investment is a family-owned company with over 40 years of expertise in multi-family investments. As an established owner of multifamily real estate and property management, the company's commitment to building and nurturing strong, stable communities has fueled their growth and success in the industry. S&S Properties Investment's dedicated team delivers high standards to property management of their investment portfolio to maximize operations and returns.