Lexerd Capital Management LLC announced today that two of its funds have acquired Greenway Village Apartments, a multifamily property in Paducah, KY.

SUMMIT, NEW JERSEY, UNITED STATES, December 17, 2021 /EINPresswire.com/ -- Lexerd Capital Management LLC (“Lexerd”), a New Jersey-based sponsor of private equity funds, announced today that two of its funds have acquired Greenway Village Apartments, a multifamily property in Paducah, KY. The purchase was completed as soon as the last twelve (12) units were completed. The property consists of seventeen (17) two-story multifamily apartment buildings, two hundred (200) units, and a community building. The current amenity package consists of an expansive fitness center, private pool with large sundeck and waterfall, a grilling area, clubhouse with business center and conference room, and walking/biking trails.

Terms of the transaction were not disclosed.

The property is ideally located 1.5 miles from I-24 on Trail Loop Drive, just off County Park Rd which intersects Route 60, a main thoroughfare for retail. Within 5 minutes of the location is Kentucky Oaks Mall, Walmart Supercenter, Starbucks, Chik-Fil-A, two Kroger locations, two Lowe’s, Home Depot, Baptist Health-Paducah, Mercy Health-Lourdes Hospital, University of Kentucky, West Kentucky Community and Technical College (6,400 students), and the Historic Riverfront.

Paducah is a growing community within McCracken County, located right on both the Ohio and Tennessee rivers. Local employers to the region include Ingram Barge (over 2,500 employees) and Baptist Health and Mercy (over 3,100 employees). The local economy is set to see major growth due to the recent approval of the City Block Project, a 3-acre multi use development in Downtown Paducah. The $21 million private investment includes an 84-room boutique hotel, parking, open space, and 18,000 square ft. in commercial space.

Greenway Village Apartments will be rebranded as The Lory of Greenway Village.

“We are enthusiastic about the acquisition of Greenway Village Apartments, soon to be rebranded The Lory of Greenway Village,” said Albert Lord III, Founder and CEO of Lexerd. “Paducah is an ideal location for both those who are actively employed and for those who are seeking a thriving retirement experience. Paducah’s city parks, close proximity to growing regions, and nearby shopping make it an ideal location to call home.”

Lord continued, “As is consistent with all of our acquisitions, the newly acquired property will be re-branded under Lexerd’s Lory umbrella of properties. We do this to convey our commitment to provide tenants with quality amenities and services which are consistent across all properties in the Lory brand, now ten (10) in total. Through each acquisition we continue to serve our mission of achieving strong risk-adjusted returns for our investors, while supporting their communities in a meaningful way. We strive to keep the Lory brand synonymous with quality amenities, exceptional community reputation, and trust services for tenants. We are committed to upholding those brand qualities with The Lory of Greenway Village.”

About Lexerd:
Lexerd Capital Management LLC is a real estate firm that primarily sponsors investments in opportunistic multifamily assets throughout the United States. Lexerd was founded in 2006 by Albert L. Lord III while he was raising capital and advising on a $440 million bid to acquire the Washington Nationals baseball team from Major League Baseball. Lexerd has managed over $1 billion in assets since its founding.

Lexerd’s core mission of preserving capital while generating appreciation and offering investors stable distributions begins with an approach that recognizes the distinctiveness of the multifamily real estate asset class and its unique features. The approach is based on the integration of three key considerations (a) a proprietary Model for property acquisition, (b) focus on small to middle Market properties to avoid larger competitors and (c) efficient Management of acquired properties. Since 2006 the 3M model has served Lexerd’s investors by generating excess returns and stable annual distributions.

To learn more about Lexerd’s approach and philosophy, visit Lexerd Capital and follow them on LinkedIn.

Contact:
Ronica Cleary
Media & Press Relations
Ronica@ClearyStrategies.com

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Ronica Cleary
Cleary Strategies, LLC
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