Vision & Beyond purchases The Quad and Lofts on Third – Louisville Business First – Louisville Business First

A Cincinnati-based company has made two apartment acquisitions in the area, making its entrance into the Louisville market.
Vision & Beyond Capital Investments closed on the 79-unit The Quad Apartments at 600 Marshall St. in Louisville and 52-unit Lofts on Third at 309 Spring Street in New Albany, Indiana. A press release said the developer is planning to invest $20 million to acquire and renovate both properties.
“We are focused on expanding our operations in 2022, and we chose to enter Louisville because we see a lot of promise in this market,” Stas Grinberg, co-founder and managing partner at Vision & Beyond, said in the release. “These acquisitions give us an opportunity to diversify our portfolio with a new asset class.”
Both properties will receive improvements with the intent to retain existing tenants. Katy Crossen, founder and president of Threshold Marketing, who’s working with the developer, said this will likely entail minor beautification efforts that will be handled in house.
Both developments are relatively new. The Quad, located near the University of Louisville and developed by Weyland Ventures, is 90% occupied. Construction on Lofts on Third finished up in March and it is also almost completely occupied, the release said. CORE Real Estate Partners brokered the transaction on behalf of the seller in an off-market transaction.
The Quad has a mix of one- and two-bedroom units ranging from 364 square feet to 1,450 square feet. The website said with its location near the Downtown medical district and its affiliation with the UofL, housing is only available to medical or dental students or medical professionals. An apartment listing shows the average rent is $710 per month.
Lofts on Third, a development from Form G Cos., has an average rent of $1,500 per month, a listing shows. It comes with one-, two- and three-bedroom loft-style units.
Crossen said the firm was interested in coming to Greater Louisville because of its experience in secondary markets. In the past year, the firm has acquired properties in Lexington and Dayton, Ohio.
“Vision & Beyond sees a lot of promise in secondary markets,” Crossen said. “Their model involves taking a look at secondary submarkets that maybe traditional investors aren’t looking at. From an employment stand point and an economic stand point, they see a lot of promise in Kentucky.”  
Founded in 2018 by Grinberg and Peter Gizunterman, Vision & Beyond owns and manages 2,500 multifamily residential units across Cincinnati, Columbus, and Dayton, Ohio; Lexington and Louisville, Kentucky, and New Albany, Indiana. Its holdings represent a total investment of more than $220 million in real estate assets and property improvements, and it plans to invest an additional $345 million in new acquisitions and property improvements in 2022.
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