Halstatt Real Estate Partners Announces the Sale of The Legacy at Baton Rouge
Naples, Fla. – May 17, 2022 – Halstatt Real Estate Partners, a real estate private equity firm, today announced the sale of The Legacy at Baton Rouge (The Legacy), a purpose-built student housing complex located near Louisiana State University (LSU). The community features 299 units with 898 bedrooms as well as luxury amenities including a gym, study room and three resort style pools. Halstatt partnered with Landmark Properties to acquire the property in March 2021 and quickly implemented a value-add enhancement and rebranding plan that substantially increased rental rates and occupancy.
“The Legacy provided an attractive opportunity to acquire a well amenitized, affordable, and purpose-built student housing community within a high-growth market.”Peggy Lamb, Principal, Halstatt Real Estate Partners
“With our rebranding and value-add program, we improved and repositioned the asset which resulted in the property being fully leased for the 2021-2022 academic year and 100% preleased for the 2022-2023 school year,” continued Lamb. “We are thrilled with the results of The Legacy. Achieving a successful and quick turnaround is a testament to the hard work and perseverance of our team and partners.”
Located just a mile and a half from LSU’s campus, The Legacy has a 1:1 bedroom to bathroom parity ratio, market-leading amenities, spacious floor plans and manicured grounds. It is conveniently located off of Burbank Drive and is surrounded by numerous dining and retail establishments.
Halstatt Real Estate Partners identifies value add and opportunistic real estate projects throughout Florida, the Southeast, and Texas. The company partners with best-in-class sponsors to develop and implement a strategic business and capital improvement plan to maximize demand driven development and investment opportunities.