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Dec 24, 2012 5:16 AM by AP

Baton Rouge apartment complex sold

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.

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Information from: New Orleans CityBusiness, http://www.neworleanscitybusiness.com

 

 

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