REBusinessOnline

Corvias to Begin $15.8M Renovation of Military Housing Development at Fort Polk, Louisiana

FORT POLK, LA. — Corvias will begin a $15.8 million renovation of military housing at Fort Polk, a U.S. Army installation in Louisiana’s Vernon Parish. The renovations will include upgrading the facades, gutters, paint and roofs of 1,146 homes and three miles of roadways on the base. Corvias expects to begin construction this month with completion slated for 2021. The renovation project uses remaining basic allowance of housing (BAH) funds accumulated over previous years that are now being …

SRS Arranges $15M Sale of Retail Center in Metro New Orleans

HARAHAN, LA. — SRS Investment Properties Group has arranged the $15 million sale of Elmwood Oaks Shopping Center, a 136,284-square-foot retail center in Harahan. Academy Sports + Outdoors and Dollar Tree anchor the property, which was 96 percent leased at the time of sale to tenants including Lumber Liquidators and AutoZone. Elmwood Oaks is located at 800 S. Clearview Parkway, eight miles west of downtown New Orleans. Kyle Stonis, Pierce Mayson and Steve Miskew of SRS represented the seller, …

Greystone Provides $15.4M Fannie Mae Green Acquisition Loan for Multifamily Property in Baton Rouge

BATON ROUGE, LA. — Greystone has a provided a $15.4M Fannie Mae acquisition loan for the purchase of Live Oaks Apartment Homes in Baton Rouge. The loan carries a 12-year term with two years of interest-only payments. The buyer, Cyprus Multifamily, plans to implement upgrades that will improve water and electricity usage as part of the Fannie Mae Green Rewards program. Live Oaks was built in 2001 and offers 184 units with one-, two- and three-bedroom floor plans. Communal amenities include …

Dougherty Mortgage Provides $20.8M HUD Refinancing Loan for Apartment Community Near Baton Rouge

ZACHARY, LA. — Dougherty Mortgage LLC has provided a $20.8 million refinancing loan for Audubon Park Apartment Homes, a 178-unit community in Zachary. The HUD 223(a)(7) loan features a 40-year term. The borrower is Audubon Park Apartment Homes LLC, an affiliate of Atlanta-based Audubon Communities. Communal amenities at Audubon Park include bike racks, a fitness center, swimming pool, car wash area, playground, grilling area and a poolside

Wampold, Lemoine Acquire Historic 500,000 SF Office Complex in New Orleans

NEW ORLEANS — Wampold Cos. and The Lemoine Co. have acquired the Whitney Bank Building Complex, a 500,000-square-foot office campus comprising seven buildings in New Orleans. The Whitney Bank Building, built in 1911, anchors the four-block development. Wampold and Lemoine plan to turn the former headquarters of Hancock Whitney Bank into a mixed-use development comprising hotel rooms, apartments, stores and restaurants. Construction is expected to begin in mid-2020. Hancock Whitney Corp. sold …

Rise Completes 589-Bed Residence Hall at University of Louisiana at Lafayette

LAFAYETTE, LA. — Rise: A Real Estate Co. has completed The Heritage, a 589-bed student housing community located on the University of Louisiana at Lafayette campus. The development features five residential buildings geared toward upperclassmen. Shared amenities include ground-floor retail, a fitness center, swimming pool, resident lounge, game room, a business center, sand volleyball court, outdoor grill stations and fire pits. The development also houses an office suite for the …

Cohen Financial Provides $21.9M Acquisition Loan for Multifamily Property in Lafayette, Louisiana

LAFAYETTE, LA. — Cohen Financial has provided a $21.9 million Freddie Mac acquisition loan for La Veranda, a 220-unit multifamily community in Lafayette. The borrower is an affiliate of Waypoint Residential LLC. La Veranda was built in 2016 and offers one-, two- and three-bedroom floor plans. Communal amenities include a swimming pool, fitness center, game room, outdoor fireplace, pet park and a rooftop lounge. The seller was not

Marcus & Millichap Arranges $6.4M Sale of Shopping Center in New Orleans

NEW ORLEANS — Marcus & Millichap has arranged the $6.4 million sale of River Commons, a 59,483-square-foot shopping center in New Orleans. River Commons, which is shadow-anchored by Walmart, was leased to 17 tenants at the time of sale, including Dollar Tree, Shoe Show, Cato and Sally Beauty. Zach Taylor and Don McMinn of Marcus & Millichap represented the seller, Rivercrest Realty, in the transaction. The buyer was Salim Rupani, a private investor based in

Sonnenblick-Eichner Arranges $46M Refinancing Loan for Maison Dupuy Hotel in New Orleans

NEW ORLEANS — Sonnenblick-Eichner Co. has arranged a $46 million refinancing loan for the Maison Dupuy, a five-story, 200-room hotel in New Orleans’ French Quarter neighborhood. Loan proceeds will be used to pay off existing debt, as well as to renovate the property. Plans for the renovation were not disclosed. Maison Dupuy is located at the corner of Toulouse and Burgundy streets, two blocks from Bourbon Street. The independent hotel offers a 4,088-square-foot courtyard, heated swimming …

Uber Capital Provides $33M Acquisition Loan for Mall in Lafayette, Louisiana

LAFAYETTE, LA. — Uber Capital Group LLC has provided a $33 million acquisition loan for Acadiana Mall in Lafayette. The 15-year loan features a fixed 5.4 percent interest rate, 70 percent loan-to-value and partial recourse for the borrower. Acadiana Mall spans 1.6 million square feet and is situated six miles south of downtown Lafayette. The anchor tenants are Macy's, Dillard's and JC Penney. Additional tenants include Aeropostale, Victoria’s Secret, Forever 21, The Children’s Place, …

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