- June 2, 2016
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Apartment Complex Sold
- Newport Villa Apartment Complex on La Annie Drive off of Florida Blvd in Baton Rouge, LA
- Month Closed: May 2016
- 96 Unit Apartment Complex
- Transaction Value: $1,440,000
Justin Langlois, CCIM and Troy Collins, CRE Associate Advisor of SVN|GLL sold Newport Villa Apartments on La Annie Drive off of Florida Blvd in Baton Rouge to New York based investment group for $1,440,000. The sale closed on May 31, 2016. Olive Square Apartments, LLC acquired the property and the seller was Newport Holdings, LLC.
“The investment-grade real estate transaction was attractive to the purchaser because of high, stabilized occupancy,” says Troy Collins with SVN. The owner plans to renovate the ninety-six unit complex.
Read the full Greater Baton Rouge Business Report here.