ACC Buys Mixed-Use Apartment Community Near The University of Louisville

by Katie Sloan

Louisville, Ky. — Colliers International’s Dorothy Jackman and Travis Prince close transaction.

Cardinal TowneLouisville, Ky. —The Colliers International Student Housing Group has closed the transfer of interest in Cardinal Towne, a 253-unit, 545-bed, mixed-use property within walking distance of the University of Louisville campus.

American Campus Communities acquired the majority interest in the student housing community. The sellers were Investment Property Advisors and their affiliates.

Colliers International’s Dorothy Jackman and Travis Prince, managing directors of the Student Housing Group, handled the transaction. The transaction was a unique and complex deal involving a number of private and government entities and required the support of highly sophisticated teams to bring the transaction to a close, according to Colliers International.

Cardinal Towne was built in two phases between 2011 and 2012. It is an affiliated property of the university and is 98 percent occupied for the 2013-2014 academic year. As part of the Cardinal Towne development, two historical homes and one historical apartment building, adjacent to the property, have been transitioned into rentals available for students.

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