Local company pays $61.4M for apartment portfolio

Nashville-based private equity real estate firm The Clear Blue Co. has paid $61.4 million for a portfolio of apartment communities located in Kentucky and Indiana.

According to a release, the portfolio consists of a collective 1,186 residences in six properties: three in Louisville, one in Lexington, and one each in the Southern Indiana cities of New Albany and Jeffersonville. The seller was Read Property Group. The Kirkland Company represented Read, while Capstone Companies brokered the transaction for CBC.