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LOUISVILLE, KY-Aaron Johnson, the principal broker for Marcus & Millichap Real Estate Investment Services in Kentucky, says a recent federal ruling will help him sell a four-property, 1,116-unit multifamily portfolio in the state. The seller, Medford Properties, is asking $57.8 million for the apartment complexes, which include the 37-building Park at Hurstbourne in Louisville.

Johnson says 90% of his sales come from national companies, which were difficult to attract under Kentucky's “turf state” law, which prohibited brokers from cooperating with brokers who are not licensed in that state. Marcus & Millichap's suit challenging Kentucky's turf state regulations was filed in the US District court for the Western District of Kentucky, which has ruled that the state's turf laws are unconstitutional.