Fairstead buys a 503-unit property in Louisville, Kentucky

Usually, when a new owner takes over an affordable property, the first order of business is a major renovation to bring it up to modern standards.

But New York City-based Fairstead, which announced the acquisition of City View Park property in Louisville, Kentucky, earlier this week, won’t need to commence a rehabilitation project at the massive 503-unit apartment complex. That’s because Washington, D.C.-based Telesis Corp., the former owner, had already completed the rehab.

Read Full Article