LAKE CHARLES, LA. — Clearwater, Florida-based Churchill Stateside Group LLC has closed $47.7 million in construction financing for Deerwood Apartments, a 144-unit affordable housing project in Lake Charles, 75 miles west of Lafayette, Louisiana. Once complete, Deerwood Apartments will offer a mix of 18 one-bedroom, 84 two-bedroom and 42 three-bedroom apartments. A construction timeline and developer were not disclosed. The financing package included $21.5 million of short-term, tax-exempt bonds through Churchill Stateside Securities LLC; a $20.8 million construction loan through Churchill Mortgage Construction LLC; a $4.8 million forward tax-exempt permanent …
BOSSIER CITY, LA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Le Rivage, a 240-unit asset in Bossier City. Built in 2016, the garden-style community consists of two- and three-story buildings on a 16 acre-site. The sales price was not disclosed. Amenities include a pool, fitness center, business center, clubhouse, playground and dog park. The average unit size is 925 square feet. Le Rivage is situated approximately five miles from downtown Bossier City and downtown Shreveport. John Hamilton, Will Balthrope and Drew …
BATON ROUGE, LA. — Marcus & Millichap has brokered the $11.6 million sale of a portfolio in Baton Rouge. Granite Pelican Bay LLC purchased the assets from an entity doing business as 2121 Lobdell LLC. John Hamilton, Chris Shaheen, Will Balthrope and Drew Garza of Marcus & Millichap represented the seller and procured the buyer. The portfolio comprises 248 units across three properties, including: Howell Place, which is located at 4150 72nd Ave.; Pelican Bay at 2121 Lobdell Blvd.; and Pirates Bend at 8165 Plank Road. The communities were built …
LOS ANGELES AND SHREVEPORT, LA. — American South Fund Management (ASFM), a joint venture between SDS Capital Group and Vintage Realty, has closed its second real estate fund with $174 million in equity commitments. SDS Capital Group is a Los Angeles-based impact fund manager. Vintage Realty is a property developer and manager that is headquartered in Shreveport, Louisiana. ASFM’s fund will provide preferred equity and equity financing for affordable housing projects in Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Texas. The fund includes a $50 …
SHREVEPORT, LA. — Marcus & Millichap has arranged the sale of Olde Salem Village, a 200-unit community in Shreveport. Continental Foundation Inc. sold the asset to an entity doing business as Thara Properties LLC for an undisclosed price. John Hamilton, Bryan Sisk and David Dorris of Marcus & Millichap represented the seller in the deal. Olde Salem Village was built in 1984 on 14.5 acres. Amenities include a clubhouse, pool and a basketball/tennis court.
BOSSIER CITY AND SHREVEPORT, LA. — Reynolds Asset Management has acquired two properties in Louisiana for a total of $35 million. The first property, Preston Place and Port Au Prince in Bossier City, comprises 272 units in one- and two-bedroom layouts, as well as one three-bedroom unit. Reynolds purchased the property in partnership with Devli Real Estate and iintoo. John Hamilton and Josh Jacobs of Marcus & Millichap brokered the transaction. The asset will be rebranded as Preston Place North and South. The second property, Townhomes at South Highlands, comprises …
BOSSIER CITY, LA. — RCMI has purchased Stockwell Landing Apartments, a complex in the Shreveport, Louisiana suburb of Bossier City. John Hamilton, Will Balthrope and Drew Garza of Institutional Property Advisors represented the seller and procured the buyer. Steve Greer is Marcus & Millichap’s broker of record in Louisiana. Built in 2005 on 11.5 acres, Stockwell Landing Apartments offers 241 units. According to Apartments.com, units come in one-, two- and three-bedroom floor plans.