Apartment Complex Sold for $1.4 Million

  • June 2, 2016
  • News
  • 0 Comments

Apartment Complex Sold

Congratulations to SVN | Graham, Langlois & Legendre Managing Director Justin Langlois, CCIM and Associate Advisor Troy Collins on their recent commercial real estate sale involving a 96-unit apartment complex. Read below for details of the sale:

Quick Details:

  • 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

More Information:

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.

Looking to buy or sell? Contact us or view our current listings.

 
0 Comments

Leave a reply