Updated Oct 29, 2024
Tiger Pointe Owner LLC & RG Investments Acquire Multifamily Property In Baton Rouge For $11.6M
3964 Gourrier Avenue, Baton Rouge, LA, USA
$11,600,000
$55/SF
Building Size
208,652 SF
Asset Type
MultiFamily
Closing
Mar 30, 2020
About this deal
AI
The multifamily property located at 3964 Gourrier Ave in Baton Rouge has been sold for $11,600,000. The transaction took place on March 31, 2020. The property spans a total area of 208,652 square feet, with a price per square foot of $55. It consists of 150 units, resulting in a price per unit of $77,333. The buyer of the property is Tiger Pointe Owner LLC, represented by CLK Properties and @RGInvestments. The seller is Embassy Apartments LLC. The deal was facilitated by Gregg Cordaro from Berkadia.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $11,600,000
- Market: Baton Rouge
- Address: 3964 Gourrier Ave
- Square Footage: 208,652
- Price per Square Foot: $55
- Units: 150
- Price per Unit: $77,333
Tiger Pointe Owner LLC, in conjunction with CLK Properties and @RGInvestments, acquired this multifamily property. The seller, Embassy Apartments LLC, successfully closed the deal. Gregg Cordaro from Berkadia served as the broker in this transaction.
On the Map
$11,600,000
$55/SF
MultiFamily
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Players
Baton Rouge MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.37%
Cash-on-Cash
-0.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93