Passco Acquires 2 Multifamily Communities in Louisiana
NEW ORLEANS — From Passco Companies
Passco Companies has acquired two luxury multifamily communities totaling 602 units: Canal 1535, a 330-unit asset in downtown New Orleans, and Sawgrass Point, a 272-unit asset in Gonzales, La. Both assets closed at contract pricing despite a volatile capital markets environment.
Market Highlight: New Orleans Multifamily has Been Surprisingly Stable in Face of Covid-19 Pandemic
Market Highlight: New Orleans Tight MultiFamily Occupancy leads to 2,285 Units in the Pipeline
New Orleans Adds Another Chapter to its 300-Year History of Multifamily Growth
How many cities can boast a multifamily history that goes back 300 years? New Orleans can, as it is celebrating its Tricentennial. New Orleans is home to the first apartment building in the United States. Historians have noted the “oldest continuously rented” multifamily development in the country is the Pontalba Apartments. Built in 1849 by […]
Market Highlight: New Orleans
MULTIFAMILY INVESTORS, DEVELOPERS FIND HIDDEN OPPORTUNITIES IN NEW ORLEANS Sometimes there is a “herding” mentality in real estate investment activity, but markets that do not make the headlines of news stories or appear on the top market lists are the ones investors should focus on. New Orleans is one such market, and while it might […]
The Gates at Citiplace sell for $59.6M
Alexandria Burris | @allyburris August 28, 2017 Another luxury multifamily development in Baton Rouge has sold at an incredibly high price. The Gates at Citiplace Apartments sold for $59.6 million in a deal that closed Aug. 3. The buyer is listed as David Werner Real Estate Investments of New York City. Werner bought the property from its […]
Buyer pays $33 million for flood-damaged St. Jean Apartments
BY TED GRIGGS | tgriggs@theadvocate.com Aug 21, 2017 – 12:54 pm A Georgia firm has paid $33.3 million for the 624-unit St. Jean Apartments, which were heavily damaged by the August 2016 flood. ACV Baton Rouge LLC bought the complex, near South Harrells Ferry Road and O’Neal Lane, from St. Jean Clermont TIC LLC and St. […]
AVR Realty Sells $250M Portfolio El-Ad National Properties acquired the nine-property portfolio consisting of pet-friendly communities in Lafayette, Shreveport and Slidell, La., totaling 2,079 units.
By IvyLee Rosario | Jul 26, 2017 El-Ad National Properties acquired a nine-property portfolio in Lafayette, Shreveport and Slidell, La. from AVR Realty for nearly $250 million. Mike Kemether of Cushman & Wakefield’s Southeast Multifamily Advisory Group and Larry Schedler of Larry Schedler & Associates, arranged the sale on behalf of the seller. The portfolio consisted of the […]
AVR Sells Nine-Property Multifamily Portfolio in Louisiana for $250M
LAFAYETTE, SHREVEPORT AND SLIDELL, LA. — AVR Realty Co., a Yonkers, N.Y.-based multifamily investment and development firm, has sold a portfolio of nine multifamily properties totaling 2,079 units in Louisiana for approximately $250 million. Israel-based investment firm El-Ad National Properties purchased the portfolio. According to the company’s LinkedIn page, its portfolio of American properties consists […]
New Orleans multi-family market remains strong
Report: New Orleans multi-family market remains strong By: Robin Shannon, Managing Editor June 16, 2015 Bella Ridge apartments opened this month in Harahan. (CityBusiness staff photo) A combination of strong demand and a lack of available buildable land is helping the area’s multi-family market remain near full occupancy. But despite the limits on space, interest […]