Capital Square, a sponsor of tax-advantaged real estate investments, acquires Lyric at Norton Commons, a Class A+, 273-unit mixed-use multifamily community in the Louisville suburb of Prospect.
The community was acquired on behalf of CS1031 Lyric at Norton Commons Apartments, DST, which seeks to raise $68 million in equity from accredited investors and has a minimum investment requirement of $50,000.
“A property of this caliber rarely comes along,” said Louis Rogers, founder and co-chief executive officer of Capital Square. “Lyric at Norton Commons Apartments is among the nicest properties Capital Square has acquired in the past 10 years. This is a unique opportunity to own the nicest, Class A + apartment community in the region.”
Located at 11210 Peppermint Street, the four-acre property has one-, two- and three-bedroom units averaging 956 square feet. The luxury community includes a 24-hour fitness center, saltwater swimming pool, resident lounge with a complimentary coffee bar and business center, pet spa, indoor meditation space, movie room and multiple outdoor courtyards.
“Lyric at Norton Commons is one of the most luxurious multifamily communities in the Louisville market, featuring high-end interior finishes and extensive community amenities that are increasingly popular among affluent renters,” said Whitson Huffman, co-chief executive officer. “Located in the premier Norton Commons master-planned community, residents enjoy ready access to the neighborhood’s beautiful parks, bustling town center and numerous retail options. This is a unique multifamily community that delivers among the finest rental living options.”
Lyric is located within the 600-acre Norton Commons master-planned neighborhood, which holds a 150-acre system of parks, squares, plazas, walking trails, recreational and civic amenities.
Since 2012, Capital Square has completed more than $6 billion in transaction volume. The firm’s related entities provide due diligence, acquisition, loan sourcing, property/asset management, and disposition, for high-net-worth investors, private equity firms, family offices and institutional investors.
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