Newly acquired Americana Apartments face renovation

Privately held investor Northern Group Inc. recently purchased the 622-unit Americana Apartments in Louisville, Ky., for an undisclosed price.

The massive property, which includes 156 buildings spread across 36 acres, is located near the Louisville International Airport.

NGI plans to renovate the complex, which was built in 1948, as part of its business strategy of improving older buildings in urban neighborhoods, according to a press statement.

This announcement comes on the heels of NGI's acquisition of the 357-unit Prospect Park Apartment complex in Pittsburgh, Pa., in November 2006.

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.