Capital Square, a developer of multifamily communities, has bought Lyric at Norton Commons, a 273-unit multifamily community in the Louisville suburb of Prospect.
The property offers one-, two- and three-bedroom units averaging 956 square feet. The community was acquired on behalf of CS1031 Lyric at Norton Commons Apartments DST (Delaware statutory trust), which looks to raise $68 million from investors and has a minimum investment requirement of $50,000.
“A property of this caliber rarely comes along,” says 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.”