Albany Road Acquires Two-Building Office Campus in Louisville for $42.5M

As reported by John Nelson in REbusiness Online

LOUISVILLE, KY. — Albany Road Real Estate Partners, an investment firm based in Boston, has purchased Hurstbourne Park & Place, a two-building office campus located off Shelbyville Road in Louisville.

The seller and sales price were not disclosed, but Louisville Business First reports that the 344,000-square-foot campus sold for$42.5 million. Hurstbourne Park & Place was 93 percent leased at the time of sale to tenants including Bank of America, Carewise Health, New York Life, Stantec, DMLO and Central Bancshares, which together boast an average tenure of over 17 years. Patterson Real Estate Advisory Group arranged acquisition financing through FirstHorizon on behalf of Albany Road. This is the firm’s first investment in the Louisville trade area.