The BENA Capital Mosaic Fund is pleased to announce the acquisition of a new multi-family apartment asset in Lexington, KY.
Lexington has one of the nation's most stable economies, benefiting from a diverse and balanced business base. Named one of the best cities for "Businesses and Careers" by Forbes and ranked 10th in a list of America's most educated cities, Lexington has seen rapid economic growth the past few years, especially in the high-tech and life sciences sectors. The city is home to industry leaders such as IBM, OpenText, and the world headquarters of Lexmark. The county is a major health care hub in Kentucky, with the second-most health care establishments and employees in the state, earning the fourth-highest wages. U.S. News & World Report named UK (University of Kentucky) HealthCare as the #1 hospital in Kentucky for the fourth year in a row, and the Markey Cancer Center in Lexington is ranked among the best cancer centers in the nation.
The property is centrally located in downtown Lexington, next to the brand new $250MM City Center, a mixed use development featuring a 12-story office tower, two hotels, and retail. Less than 5 minutes away from the apartment sits the University of Kentucky and the $300MM Lexington Convention Center redevelopment that is scheduled to complete in Spring 2022. All units are currently 100% occupied. We are very excited about the prospects of this property due to its desirable proximity to demand generators, strong cash-flowing history, and the robust investment activity in the immediate vicinity.
The acquisition is the third of BENA Capital’s Mosaic Fund - a Stable Income Fund focused on generating strong rental income streams from core-plus and value-add assets in growing markets throughout the United States.
The Mosaic Fund is currently open to new investors through December 2019. If you are interested in earning stable quarterly dividends, feel free to reach out directly via email or call us at 408-421-8608.
Managing Director - Real Estate Acquisitions
About BENA Capital
BENA Capital manages real estate investment funds, with a central focus on the acquisition and management of residential multifamily assets in growing markets. BENA Capital's funds provide investors with ease of entry, reliable quarterly cash flow, and portfolio diversification. Our proven strategies emphasize sound investing in carefully researched, quality properties that have steady, long-term capital appreciation potential.
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