Available as a Portfolio or Individual Sale
Berkadia is pleased to present the exclusive opportunity to acquire the Riverside 4 Portfolio, an exceptionally high-occupancy group of four closely situated properties in one of the most dynamic and fastest-growing counties in Indiana.
Comprising 451 total units, the holding provides immense upside through its instant portfolio scale, high-demand location, and inherent rent-growth advantage. 160 units have already been renovated yielding $100+ average rent premiums, and the property’s consistent high occupancy points to further organic rent growth on all 451 units. In addition, three of the four assets are less than a five-minute drive to Downtown Louisville and its 620,000+ population, endowing this exceptionally well-located property with perpetual renter demand.
The Clark County area, with its fast-growing population of over 117,000 – more than 20% of whom are in the key renter age group of 18 to 35 – is home to one of the largest business and manufacturing parks in the Midwest, the River Ridge Commerce Center, which supports 16,000 regional jobs and features a one-million-square-foot Amazon fulfillment center. Since April 2018 alone, this booming county has created upwards of 5,300 jobs metrowide, and its businesses benefit from Indiana’s uniquely favorable tax incentives making it one of the most competitive and business-friendly environments in the nation.
Located in one of the most accessible areas in America - within a day’s drive of more than 50% of the entire nation’s population - the Clark & Floyd County area is a massive logistics hub whose Port of Indiana provides $1.3 billion in economic activity and supports over 13,000 direct and indirect jobs. These factors, combined with a low cost of living; young, professional workforce; and host of positive demographic drivers provide residents and new ownership an opportunity to enjoy sustained economic vitality and the enduring success of Riverside 4 Portfolio.