Posted: Dec 24, 2012 4:16 AM by AP
METAIRIE, La. (AP) - A 321-unit Baton Rouge apartment complex has been acquired by Metairie-based 1st Lake Properties in a $20.3 million transaction.
The seller was BR Regency Club Partners.
1st Lake parent Favrot & Shane Cos. Said the company plans a $1.4 million upgrade of the Regency Club Apartments, built in 1984. The gated complex is near South Sherwood Forest Boulevard, and its units average just more than 808 square feet.
Favrot & Shane now owns three apartment complexes in Baton Rouge.
Information from: New Orleans CityBusiness, http://www.neworleanscitybusiness.com