Consisting of 120-Units in a Family Friendly Neighborhood
Baton Rouge, LA— Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, recently completed the $7.3M sale of a 120-unit multifamily apartment building located at 855 South Flannery Road, Baton Rouge, LA. The property was purchased by a private investor based in New York looking to add to their portfolio of out-of-state properties. Senior Associate John Solari represented the seller in the transaction.
Matthews™ generated multiple offers, primarily out of the Midwest. The multifamily building is conveniently located within walking distance to Flannery Road Park, an elementary school, Shopper’s Value Food, and multiple restaurants.
“Unlike other out-of-state brokers, I was able to attend every site inspection and visit, guiding my clients throughout the transactional process,” said Solari.
The buyer was eager to plant capital in a market with a high rate of return. Baton Rouge, Louisiana’s capital, comprises over 746,000 residents with an average annual household income of $70,902. According to Baton Rouge Trends, the neighborhood’s multifamily sector has been recovering quickly since COVID-19, with over 797 conventional units under construction.
“The utilization of Matthews™ technologies and extensive database allowed us to attract multiple qualified buyers and introduce them to a booming multifamily market that they would not have anticipated,” said Solari.
Matthews Real Estate Investments Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 400 agents and support staff in 14 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.
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