Audubon Apartments Audubon Apartments

ATLANTA—You don’t see multifamily deals in Louisiana of this size every day. A 2,079-unit portfolio in Lafayette, Shreveport and Slidell has traded hands.

Cushman & Wakefield’s Southeast Multifamily Advisory Group arranged the nearly $250 million sale. Mike Kemether of Cushman & Wakefield and Larry G. Schedler of Larry G. Schedler & Associates represented the seller, AVR Realty, in the transaction. El-Ad National Properties acquired the multifamily portfolio.

“This portfolio sale represents a substantial statewide multifamily investment and transaction,” Schedler tells GlobeSt.com. “The high level of local and international investor interest was driven by the opportunity to purchase a critical mass of best-in-class assets across the state of Louisiana.”

The properties in the portfolio include:

  • Audubon Lake, 208 units, Lafayette
  • Chateau Des Lions, 180 units, Lafayette
  • Chateau Mirage, 280 units, Lafayette
  • Peppertree, 304 units, Lafayette
  • Champion Lake, 256 units, Shreveport
  • River Walk, 208 units, Shreveport
  • Stockwell Landing, 241 units, Shreveport (Bossier City)
  • Harborside, 168 units, Slidell
  • Villa Du Lac, 234 units, Slidell

Cushman & Wakefield’s Southeast Multifamily Advisory Group is the most active firm in the region, with the No. 1 market share based on transactions reported to CoStar. The group closed $3.6 billion in sales volume in 2016, totaling 223 deals and nearly 50,000 units. On average, the team has experienced 63% sales growth.

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