LOUISVILLE, KY – Bluestone Properties is a vertically integrated private real-estate company that owns and manages stabilized high-quality multifamily assets in high growth secondary markets. The firm’s newest acquisition is a 274-unit property named The Ivy, in Louisville, KY.
The Ivy is strategically located off Interstate 71 and Highway 265 with convenient access to Gene Snyder in the heart of East End Louisville’s education corridor. The community offers residents a variety of health and instruction opportunities along with close proximity to EP Tom Sawyer State Park, Eastgate Shopping Center, Lakeforest Country Club, and Ford Motor, making The Ivy one of the most sought after locations in Louisville.
The Ivy is an upscale mid-rise community with open concept floor plans that include high end interior features. The kitchen elements include Quartz countertops, stainless steel appliances, and pendant lighting. The property offers a robust suite of amenities for residents to delight in. These amenities include a golf simulator, a race car simulator, a state of the art community kitchen with a coffee bar, pool table, and entertainment space, along with a resort-style pool and private cabanas. One of the many unique features of this community is the private office spaces available to residents.
Cassandra Murphy, Regional Vice President states, “We are thrilled to add The Ivy Apartment Homes to Bluestone’s well-established portfolio of luxury, multi-family communities. The Ivy is in a prime location with extraordinary amenities and unique floor plans with sleek, high-end finishes. We look forward to providing unswerving customer service to ensure that it is the preeminent choice for Louisville’s east-end renter.”

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DENVER, CO – MG Properties Group, a privately held real estate investor and operator headquartered in San Diego, California, announced their acquisition of Neon Local Apartments in Denver’s South Broadway neighborhood for $108.2 Million.
Built in 2020, this 238-unit community is one of the few multifamily additions along the South Broadway corridor. Located in the area’s sought after entertainment district, Neon Local’s proximity to mass transit and commuter freeways make it an arterial thoroughfare with premier access to the larger Denver metro. Its onsite retail options and an irreplaceable core location make Neon an ideal entry into the Colorado market.
The sellers, North America Sekisui House and Holland Partner Group, were represented by Jordan Robbins and Pamela Koster of Jones Lang LaSalle (JLL). The acquisition of the community was financed with a loan from an affiliate of Apollo Global Management arranged by JLL Capital Markets’ Charles Halladay, Rick Salinas, Brandon Smith, and Annie Rice.
“We are pleased to announce our entrance into the Denver market.” said Mark Gleiberman, Founder & CEO of MG Properties Group. “This community offers a unique luxury product in one of Denver’s most sought-after neighborhoods. We are continuing to actively pursue acquisitions in the broader Denver area to further scale our operations.”
Neon Local is the first property bought by MG Properties Group in Colorado and marks the 18th acquisition in the last year for the company overall – totaling over $1.5 billion in combined value. MG Properties is continuing to target further acquisitions in Washington, ;Oregon, California, Arizona, Nevada, Utah, Colorado, and Texas. 

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SEATTLE, WA – Global real estate investment company Kennedy Wilson (NYSE:KW) has added two wholly owned apartment properties to its Seattle, Washington portfolio. The Kennedy Wilson team bought The Bristol at Southport, the region s largest waterfront apartment asset at 383 units, for $191 million and Geo Shoreline, a newly built 164-unit community, for $74 million. The two properties join Kennedy Wilson s multifamily portfolio focused on high-quality apartments located in rapidly growing markets across the Western United States.
These two acquisitions reflect our continued confidence in the Seattle region, where we were among the first institutional investors to establish a multifamily presence 15 years ago, said Senior Managing Director Shem Streeter, who leads acquisitions for Kennedy Wilson s multifamily division. Bristol and Geo are two premier assets with value-add upside that further our long-standing strategy to upgrade the quality of our portfolio within high-opportunity markets. Seattle is among the most economically vibrant cities in the world with proven fundamentals, a strong job market that will continue to draw employees as offices open, and robust rent growth that is now approaching pre-pandemic levels.
The Bristol at Southport is a dual-property waterfront apartment community built in 2002 and 2008 within the Southport mixed-use master plotted community featuring a waterfront boardwalk, restaurants, Class-A office that will bring 4,500 employees to the area upon lease-up, as well as a four-star Hyatt Regency hotel. The property also sits adjacent to Gene Coulon park, a 57-acre waterfront park along the southeastern shores of Lake Washington. Kennedy Wilson plans to invest $7 million to continue upgrading units and the collection of amenities onsite, which include a two-tale fitness center, multiple resident lounges, business centers, a pet park and waterfront amenities.
Located in Seattle submarket Shoreline, Geo is a 2020-built luxury apartment community with best-in-class amenities including co-working space, a 24-hour fitness and training facility, roof-top deck and lounges, as well as a dog park and dog grooming center. The apartments are in close proximity to some of the world s most successful companies as well as the Shoreline light rail expansion, which will increase accessibility to and from Shoreline in 2024.
Kennedy Wilson invested $109 million of equity, including closing costs, in the two properties and secured $158 million in 10-year, fixed-rate financing at a weighted average interest rate of 3.35 percent. The Bristol at Southport and Geo Shoreline are expected to add approximately $9 million of initial annual net operating income, which is projected to grow significantly as Kennedy Wilson continues leasing units and completes value-add initiatives including unit and amenity upgrades.
The acquisitions contribute to recent transaction activity at Kennedy Wilson as well as an expansion of the company s multifamily portfolio, which has grown from 30,000 units at year-end 2020 to approximately 32,000 units at the close of Q2 2021.

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