News

Passco Acquires 2 Multifamily Communities in Louisiana

NEW ORLEANS — From Passco Companies

Passco Companies has acquired two luxury multifamily communities totaling 602 units: Canal 1535, a 330-unit asset in downtown New Orleans, and Sawgrass Point, a 272-unit asset in Gonzales, La. Both assets closed at contract pricing despite a volatile capital markets environment.

New Orleans Adds Another Chapter to its 300-Year History of Multifamily Growth

How many cities can boast a multifamily history that goes back 300 years? New Orleans can, as it is celebrating its Tricentennial. New Orleans is home to the first apartment building in the United States. Historians have noted the “oldest continuously rented” multifamily development in the country is the Pontalba Apartments. Built in 1849 by […]

Market Highlight: New Orleans

MULTIFAMILY INVESTORS, DEVELOPERS FIND HIDDEN OPPORTUNITIES IN NEW ORLEANS Sometimes there is a “herding” mentality in real estate investment activity, but markets that do not make the headlines of news stories or appear on the top market lists are the ones investors should focus on. New Orleans is one such market, and while it might […]

The Gates at Citiplace sell for $59.6M

Alexandria Burris | @allyburris August 28, 2017 Another luxury multifamily development in Baton Rouge has sold at an incredibly high price. The Gates at Citiplace Apartments sold for $59.6 million in a deal that closed Aug. 3. The buyer is listed as David Werner Real Estate Investments of New York City. Werner bought the property from its […]

Buyer pays $33 million for flood-damaged St. Jean Apartments

BY TED GRIGGS | tgriggs@theadvocate.com Aug 21, 2017 – 12:54 pm A Georgia firm has paid $33.3 million for the 624-unit St. Jean Apartments, which were heavily damaged by the August 2016 flood. ACV Baton Rouge LLC bought the complex, near South Harrells Ferry Road and O’Neal Lane, from St. Jean Clermont TIC LLC and St. […]