LOUISIANA MULTIFAMILY PORTFOLIO SELLS FOR $9.5 MILLION

SHREVEPORT, LA. — New York-based Platinum Management has acquired a multifamily portfolio, consisting of four complexes in Shreveport, from Chicago-based First Bank of Illinois, for $9.5 million. The properties are Villa Norte, a 13-building, 200-unit property, located at 1620 Fullerton St.; The Pines, a 20-building, 128-unit property, located 8040 Line Ave.; Kings Manor I, a 20-building, 184-unit property, located at 7210 Bernstein Ave.; and Kings Manor II, an 8-building, 64-unit property, located at 1674 David Raines Rd. Kings Manor I features one- and two-bedroom units, and the remaining properties feature a one-, two- and three-bedroom unit mix. David Bilfeld of Chicago-based Colliers Bennett & Kahnweiler represented the seller in the transaction.