Monday, March 19, 2018

29th Street Capital Expands Louisville Portfolio; Acquires The Cloisters Apartments


The Cloisters Apartments, Louisville, KY

Louisville, KY – 29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired The Cloisters Apartments its third acquisition in the Louisville market.

 The 39-unit multifamily property is located approximately one mile east of downtown Louisville in the Butchertown neighborhood and is minutes away from the proposed site of the future Louisville City Football Club stadium.

Adam Miller
 The Cloisters was once the chapel and convent for the Ursuline Academy of Immaculate Conception, and in the late 1980’s was converted to apartments and required to meet housing code requirements. 


“We are thrilled to add The Cloisters to our Louisville portfolio,” said Adam Miller, 29SC’s Senior Vice President of Acquisitions for the Southeast. “The property is in a great location with close proximity to downtown, NuLu, and many restaurants, local retail and other attractions that comes with those areas.”


Louisville has added more than 15,000 jobs metro-wide each year since 2014 and the growth is escalating. The city is a critical distribution center for leading logistics and manufacturing companies including UPS, Amazon, Ford Motors, GE Appliances/ Electrolux and, most recently, Google Fiber. 


“The city of Louisville is in a transitional phase as it continues to grow and attract a younger demographic,” Miller added. “The city is working with the state government to help fund the $200 million Louisville City Football Club stadium project that is expected to generate $13 million per year in tax revenue for the city.”


The transaction closed March 5. The sale price was not disclosed.


For more information, please contact:

Terri Thornton

Partner, Thornton Communications




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