SHREVEPORT, LA. — A partnership between Reynolds Asset Management and Slabotsky Family Office has purchased Riverside Oaks Apartments, a 185-unit community located at 109 Southfield Road in Shreveport. The undisclosed seller sold the property to the partnership for $9.5 million. John Hamilton of Marcus & Millichap brokered the transaction, with Tom Didio, Max Custer and Michael Mataras of JLL procuring acquisition financing.
Built in 1972, Riverside Oaks features one-, two- and three-bedroom floor plans, as well as a swimming pool, playground, laundry facilities, bicycle storage, picnic area and a dog park.
Reynolds and Slabotsky are planning to invest $4 million to overhaul Riverside Oaks, including installing new roofs, driveways, site lighting, landscaping and fencing, as well as upgrading the pool and dog park, improving security features and renovating interiors. Renovations are anticipated to begin immediately and continue over the next two years.