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 228 units across a 17-acre site. Units come in one-, two- and three-bedroom floor plans. Reynolds acquired the community in partnership with Newport Capital Group. Renovations at the community are currently underway and scheduled for completion in October 2024.