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BATON ROUGE, LA - Berkadia announces it has arranged the sale of Citiscape at Essen, a 299-unit multifamily asset in Baton Rouge, Louisiana. Senior Managing Director Ryan Epstein of Berkadia’s Houston office along with Managing Director Gregg Cordaro of Berkadia’s Baton Rouge office, listed the property on behalf of the seller, Ojala Partners, LP. The Medve Group was the buyer.
“The diversifying market and low cost of living is expected to bring in new residents to Baton Rouge and provide upward pressure on effective rents as the labor market improves,” said Epstein. “Investments from Greentech Materials and Shell’s potential $1.2 billion funding in the region exemplify the continued interest and demand from new jobs these investments would bring, further putting Baton Rouge forward as a compelling multifamily market.”
National Asset Services Delivers Buyer for North Houston Multifamily Property
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HOUSTON, Jan. 14, 2021 /PRNewswire/ National Asset Services (NAS), one of the Country s leading commercial real estate companies, successfully delivered a buyer for Chartwell Court Apartments in North, Houston, TX on behalf of property investors in the 253,553 square foot, 243-unit complex. The Chartwell Investor Committee highly recommends Karen E. Kennedy and her team to any investor who wants a trusted partner that treats your investment like their own, commented Paul Balas, an investor in Chartwell Court Apartments and a member of the property s governance committee.
HOUSTON, TX - Berkadia announces it has arranged the sale of Chartwell Court, a 243-unit garden style community in north Houston. Senior Managing Director Ryan Epstein, Senior Director Jennifer Ray and Associate Director Scott Bray of Berkadia’s Houston office listed the property on behalf of National Asset Services, a real estate investment firm based in Los Angeles. The buyer is REEP Equity, a real estate investment firm based in San Antonio.
“The property’s significant value-add upside and the lack of new construction in the area illustrated a proven asset with fundamentals to maintain high occupancy,” said Epstein. “With no conventional properties in lease-up, under construction or proposed within proximity of the community, Chartwell Court reflects Houston’s advantageous multifamily market.”