Oakwood Capital Completes $30.5 Million Acquisition of Multifamily Property in Zachary, Louisiana
By: Oakwood Capital
BATON ROUGE, La. - March 21, 2022 - PRLog -- Oakwood Capital announced today its purchase of Zachary Parkside, a multifamily property in the Baton Rouge suburb of Zachary, Louisiana for $30.5 million. Located at 20051 Old Scenic Highway, the property was acquired on March 3, 2022, and was transacted with a total Real Property value of $30,505,841.
Zachary Parkside sits on 17.4 acres just north of the Baton Rouge, Louisiana metro area. Built in phases in 2008 and 2017, the conventional garden style property offers 300 units with 375,870 square feet of net rentable area. Site amenities include breakfast/coffee concierge services, a fitness center, pool spa and tanning salon, a business center and clubhouse, grills, online services and a renters insurance program.
"Demand for multifamily living has proven to be resilient in Baton Rouge since the onset of the coronavirus pandemic," said Harry Klein, Managing Partner at Oakwood Capital. "Our investment in Zachary Parkside will help meet the demand for rental properties as the area continues to experience an increase in population growth in a fantastic submarket. We are excited to be part of this community."
Oakwood Capital is a real estate acquisition and asset management firm specializing in the purchase of garden style apartment complexes in primary, secondary and tertiary markets throughout the Southeast United States. As an owner-operator, full-service commercial real estate investment company they focus on achieving superior near-term returns and long-term asset appreciation and preservation. Oakwood Capital has offices in Hollywood, Florida, Long Island, New York and Brooklyn, New York. For more information, please visit www.OakwoodRG.com.
Harry Klein, Managing Partner at Oakwood Capital
Page Updated Last on: Mar 22, 2022