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…

Source: http://feeds.bizjournals.com/industry_21

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