BATON ROUGE, La.
- Jan. 3, 2014
-- Black Warrior Holdings, LLC, represented by 3Chix Realty, sold their Newport Villas Apartment complex at 1737 La Annie Drive in Baton Rouge to an investment group, Newport Holdings, LLC. According to CJ Johnson, Broker/CEO at 3Chix Realty, the property was sold for $1.2M. "This was a great deal for both parties, and we were pleased to be working closely with Kristi Godal at Reliant Property Management and her team, to allow a fast and smooth transaction."
The property, a low-income housing development, has seen many improvements over the past few months. Kristi Godal, owner of Reliant Property Management stated, "This looks like a great sign for other property owners and investors that the commercial market in Greater Baton Rouge is on the rebound." Johnson agreed with that, saying, "We had so many interested parties looking at this property and more than one back up offer. We would certainly like to put together a few more of these deals in 2014."
Newport Villas Apartments will continue to be managed by Reliant Property Management.