VIENNA, Va., May 19, 2022 /PRNewswire/ -- Middleburg Communities (Middleburg), a Vienna, Virginia-based real estate investment, development, construction, and management firm announces the sale of Vesta Derby Oaks, a 418-unit apartment community at 3237 Utah Avenue in Louisville, KY. Middleburg acquired the blighted and mostly abandoned property in December 2018 and invested more than $17 million in the transformative redevelopment of the asset. At the time Middleburg acquired it, the property was approximately 15% occupied with most of the buildings in shell or uninhabitable condition. At the time of sale, Vesta Derby Oaks was 95% leased and occupied.