A 540-unit apartment complex in St. Matthews has landed a new owner in a huge deal.

Salt Lake City-based Sundance Bay has bought Mallgate of St. Matthews, between Sherburn Lane and Bowling Boulevard near Mall St. Matthews, for $42.5 million, according to a news release from CBRE Group Inc (NYSE: CBG). The seller was Shamrock Communities.

CBRE’s Central Midwest Multifamily Team represented Shamrock in the sale, which closed last month. That brokerage team is led by Steve LaMotte Jr. and Dane…

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