Algiers apartment deal leads multi-family trend
By: Robin Shannon, Reporter, December 16, 2014 A local investment group led by developer Joshua Bruno has acquired the 336-unit Oakmont Apartments complex in Algiers from an Illinois-based real estate trust. The deal is part of an ongoing trend of multi-family acquisitions throughout the New Orleans metro area and the Gulf South Region, according to […]
Report: Apartment occupancy, rents stable in NOLA
By: Robin Shannon, Reporter November 6, 2014 The latest semiannual report on apartment occupancy shows the New Orleans market is maintaining equilibrium between supply and demand as average rental rates and availability have remained virtually unchanged since the spring. The fall edition of the Greater New Orleans Multi-Family Report keeps tabs on more than 300 […]
(Strength + Firmness + Stability) x 10 Years = New Orleans Apartment Market
Posted on October 27, 2014 by John Nelson in Market Reports, Southeast Market Reports This word problem title easily portrays the current state of the New Orleans metropolitan multifamily market. The past decade can be recorded as positive in asset appreciation, sales, rent and occupancy growth. Unlike the majority of multifamily markets in other cities, […]
New Units to Test CDB Apartment Market
By: Robin Shannon, Reporter September 17, 2014 Real estate analysts say the downtown New Orleans residential market could be heading for its biggest test yet, with several large-scale developments expected to go on the market within the next 12 to 18 months. Pre-leasing has started for The Paramount, one of the apartment buildings under construction […]
Higher housing costs put pinch on local workforce
By: Ryan Kelly, Reporter August 14, 2014 Riccardo Emilien, a teacher at Cohen College Prep High School, recently got engaged to his longtime girlfriend, confident that their combined $100,000 a year income would suffice for mortgage payments on an Uptown house.
Rental demand in metro New Orleans area soars to new heights
Fox 8 news recently interviewed local real estate professionals about demand for New Orleans downtown apartments. Click the link below to see the interview with Larry G. Schedler Multifamily Real Estate Broker and Multifamily Developer Marcel Wisznia http://www.fox8live.com/clip/10358347/rental-demand-in-metro-area-soars-to-new-heights
NOLA apartment market sustains high occupancy, rents
By Greg LaRose – May 23, 2014 The latest seasonal report on apartment occupancy shows renters have absorbed nearly all the available inventory in almost every corner of the New Orleans market. That’s allowing landlords to keep lease rates at an all-time high. The spring edition of the Greater New Orleans Multi-Family Report keeps tabs […]
The Esplanade at City Park apartments sold to Florida investors for $53.5 million
By Katherine Sayre 12/19/2013 The Esplanade at City Park, a landmark apartment building overlooking Bayou St. John, recently sold to a Florida investment firm for $53.5 million. Financing for the deal was announced this week by real estate finance group Walker & Dunlop, a national firm with a New Orleans office. Priderock Capital Partners, based […]
New Orleans complex sells for $54.5 million
NEW ORLEANS — A month after an Atlanta company bought the American Can complex in Mid-City, a Florida investment group has sealed the deal on another major apartment development in the same area. Conveyance records show Priderock Capital Partners of West Palm Beach purchased the 441-unit Esplanade at City Park for $54.5 million. The deal closed […]
New Orleans Multifamily: Downtown, St. Tammany Hotspots for Development in New Orleans
10/14/2013 There is a buzz about New Orleans — no longer are only locals singing the virtues of this great American city. In fact, Forbes rated New Orleans the fastest-growing city since the recession in 2013, Bloomberg describes the Crescent City as “Boomtown,” CNN Money rated Louisiana as one of the most entrepreneurial states and […]