National City Tower

Date
Category
Ground Lease
About This Project

Negotiated and closed the sale of a 2.57-acre site located in the heart of downtown Louisville, KY. The sale contained the fee simple interest in the land underlying a 38-story, 723,000 square foot, Class A office tower and adjacent 4-story parking garage. The property is leased on a long-term basis to the operator of the improvements, providing the owner with management-free cash flow until 2114. The property is structured as a highly-leveraged zero-cash-flow investment, with fully amortizing debt in place.