AEW Buys The Summit® Louisville

LOUISVILLE—AEW Capital Management, L.P. has just acquired The Summit® Louisville, a 365,000-square-foot shopping complex in Louisville first developed in 2001. They acquired the property on behalf of the AEW Core Property Trust, an open-end real estate fund. Eric Zimmerman and Miles Theodore of Eastdil Secured represented the seller, a fund advised by Prudential Real Estate Investors. Consultants Lainey Jurich and Craig Collins of Commercial Kentucky, Inc. also provided support to AEW during the transaction.

AEW officials say one of the chief reasons they acquired the property was the recent addition of Earth Fare as an anchor tenant. The organic supermarket sells farm-to-market goods that attract affluent shoppers and joins other national big-box retailers at The Summit® Louisville like Bed Bath & Beyond, Barnes & Noble, Office Depot and The Gap.