Property Acquired by an Out-of-State Buyer
Baton Rouge, LA — Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the $11.3 million sale of Eden Point Apartments, a 77,839 square-foot multifamily complex located at 11528 Old Hammond Highway, Baton Rouge, LA. Senior Associate John Solari represented the seller in the transaction.
Eden Point Apartments sit on a six- and three-quarter acre lot with over 185 units. The seller is a repeat client of Matthews™ who was looking to relinquish the property and exit the market. Matthews™ sourced the buyer, a prominent management company in the Midwest with buyers out of California.
“Utilizing my network of clients in the Midwest, I was able to find an out-of-state buyer looking to capitalize on the hot multifamily industry in commercial real estate,” said Solari. “The buyer was motivated by Louisiana’s higher cap rates and opportunity to expand their presence in the market.”
The complex is less than a mile from Interstate 12 and less than two miles from Airline Highway, making it extremely accessible. Eden Point Apartments are less than eight miles away from Louisiana State University and in the Sherwood Forest neighborhood.
“Rising interest rates were a hurdle during this deal, but both parties were able to meet their terms making the sales process as smooth as possible,” said Solari. “The backend support provided by Matthews™ allowed this deal to turn around deliverables in a timely fashion.”
For more information, or to contact John Solari, please visit www.matthews.com.
About Matthews™
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, continues to focus on expansion into new markets. For more information, please visit www.matthews.com.
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