NEW YORK--(BUSINESS WIRE)--Beitel Group and The Scharf Group, both NY-based single-family offices, sold The Park at Hurstbourne, a 689-unit apartment complex in Louisville, Kentucky. The investment achieved an IRR of 26.66% and an equity multiple of 2.3x for the investors.

Beitel Group

A NY-based family office focused on the acquisition and development of multifamily and commercial properties nationwide while pursuing a value-add strategy. Beitel currently owns and operates a multifamily portfolio spanning nine states, consisting of 10,000+ units.

The Scharf Group

A NY-based fourth generation family office; owner, developer, and operator of a large portfolio of commercial, multifamily, healthcare & senior housing properties nationwide.