News

The Esplanade at City Park apartments sold to Florida investors for $53.5 million

By Katherine Sayre 12/19/2013 The Esplanade at City Park, a landmark apartment building overlooking Bayou St. John, recently sold to a Florida investment firm for $53.5 million. Financing for the deal was announced this week by real estate finance group Walker & Dunlop, a national firm with a New Orleans office. Priderock Capital Partners, based […]

New Orleans complex sells for $54.5 million

NEW ORLEANS — A month after an Atlanta company bought the American Can complex in Mid-City, a Florida investment group has sealed the deal on another major apartment development in the same area. Conveyance records show Priderock Capital Partners of West Palm Beach purchased the 441-unit Esplanade at City Park for $54.5 million. The deal closed […]

New Orleans Multifamily: Downtown, St. Tammany Hotspots for Development in New Orleans

10/14/2013 There is a buzz about New Orleans — no longer are only locals singing the virtues of this great American city. In fact, Forbes rated New Orleans the fastest-growing city since the recession in 2013, Bloomberg describes the Crescent City as “Boomtown,” CNN Money rated Louisiana as one of the most entrepreneurial states and […]

Rebirth of the Big Easy

By Eliza Theiss, Associate Editor 10/09/2013 Lately it seems that all eyes are on New Orleans (NOLA). All but washed away just eight years ago when Hurricane Katrina submerged 80 percent of the city, NOLA is showing healthy market indicators. National retailers such as Costco and Walmart are moving to the city. Hotel occupancy has […]

Developers see apartment potential in CBD office space

With office space occupancy continuing to trend down in the Central Business District, real estate analysts say the city should expect to see additional apartment development downtown as demand for urban living continues to stay strong. The belief is that New Orleans is following a growing national trend in which more residents are returning to […]

More than 500 apartment units planned for north Covington

The Covington City Council will soon be asked to annex 18 acres of land along the city’s northern fringe to clear the way for construction of a 288-unit apartment complex, a development that would add to a mini-boom in what had been a countrified section of St. Tammany Parish. To be called the Reagan Crossing Apartments, the […]

Warehouse District historical renovation targets New Orleanians willing to pay top rents

A Warehouse District building where Jefferson Davis was embalmed and, more recently, French Market coffee was roasted is being renovated into one of the most expensive apartment rental properties in the city. Developers hope to lure residents willing to pay $6,000 per month, part of a rapidly expanding apartment market in and around the Central […]

New Orleans area apartment rents, occupancy rates continue to rise

In a trend drawing attention from national investors, the New Orleans area apartment market continues to see rising average rents and occupancy rates, according to a report by local analysts in the multi-family housing industry. Algiers saw the biggest recent uptick in rents and lived-in units, while New Orleans’ historic core neighborhoods and St. Tammany […]

Real estate report shows the metro is seeing growth

The Greater New Orleans Multi-Family Report for the first half of the year is out, and it points to continued growth in our area. Overall the metro rental market is “very healthy” says Larry Schedler, the head of Schedler and Associates, one of the firms that puts the report together. “We’re averaging about 93% occupancy,” […]

America’s New Frontier For Business Opportunity

They say that the view from the bottom is often the reason – the inspiration – for getting back up. For Louisiana, the view must have been coming from very low ground and looked overwhelmingly bleak, because the state has made a dramatic economic transformation over the recent years, after decades of experiencing a great […]