Atlanta & Southeast News In Your Inbox
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Berkadia Negotiates Multifamily Sale in Baton Rouge
The Embassy, a garden-style multifamily property in Baton Rouge, LA, has reportedly traded hands to New York-based CLK Properties’ Tiger Pointe Owner LLC for $11.6 million. Berkadia’s Gregg Cordaro handled the deal on behalf of the seller, a Baton Rouge-based family trust, Embassy Apartments LLC.
Embassy was built in 1970 and features 150 units on 4.79 acres. Located at 3964 Gourrier Ave., the 100%-occupied asset includes a swimming pool, landscaped courtyards and available storage facilities. The property affords convenient walkable access to the LSU campus, Tiger Stadium, retail, and restaurants including Walk On Sports Bar, named by ESPN as the “Best Sports Bar in America.”
Cordaro says, “Interested parties included national redevelopers, student housing buyers, hotel developers and national multifamily clients interested in a high-yield, value-add opportunity, with an additional future opportunity to redevelop this once-in-a-lifetime site.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
