Campus Advantage and Saban Real Estate acquired four Louisiana State University area apartment complexes for $128.1 million as a part of a larger deal encompassing 19 properties around the country. The seller was American Campus Communities. The LSU complexes represent almost 20% of the beds that changed hands in the transaction. In recent years, Baton Rouge has experienced overbuilding in the LSU apartment market. Campus Advantage’s purchase is not an indicator of the overall strength of the LSU apartment market, but the market issues didn’t deter Campus Advantage from going through with the purchase. Campus Advantage will target students and their parents who are looking for quality housing at a reasonable price.
Four LSU-area apartment complexes have been sold for $128.1 million as part of a larger deal involving three student housing companies. Campus Advantage, based in Austin, Texas, and Saban Real Estate of Los Angeles, acquired The Cottages of Baton Rouge at 777 Ben Hur Road, University Crescent at 4500 Burbank Drive, U Club Cottages at 5689 River Road and Burbank Commons at 4600 Burbank in a deal that closed last week. The seller was American Campus Communities of Austin.