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Florida & Gulf Coast  + Gulf Coast  + Apartments  | 
Servio Capital has purchased the California Building in New Orleans, LA for $40 million.

Servio Capital Acquires 1949-Constructed California Building in New Orleans for $40M

Covington, LA-based Servio Capital has completed its $40-million acquisition of the California Building on Tulane Avenue in New Orleans, LA, one of the oldest standing international-style buildings in the city.

The property, at one point operated as Hibernia Bank’s operation center, was acquired by Servio Capital through arbitrage.

The California Building was constructed in 1950 as part of the post-World War II building boom when discoveries and demand of oil and gas brought considerable prosperity to both the city and the state.

Now a pet friendly deluxe condominium, it has been upgraded with a media room, fitness center, business center and game room while maintaining unique architectural features.

“The property serves New Orleans lovers who want a place to stay while visiting with the opportunity for an income-producing condo, and it serves this corridor of health and business professionals with the opportunity to own a condo close to their workplace,” said Servio Capital CEO Ryan Enk.

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Servio Capital's Enk

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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