NAPLES, Fla.--(BUSINESS WIRE)--Halstatt Real Estate Partners, a real estate private equity firm, today announced the purchase of The Exchange at Baton Rouge, a purpose-built student housing complex located at 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 Real Estate Partners provided equity and partnered with Landmark Properties, one of the premier developers, owners, and operators of student housing in the country.
“We remain very committed to purpose-built student housing. This asset class has proven to be recession resilient and recently experienced distress due to COVID, making way for some attractive purchase opportunities,” said Katie Sproul, chief executive officer, Halstatt. “We are excited to join the LSU community and delighted to have a new partner with Landmark Properties. We feel that the demand for well amenitized affordable purpose-built student housing communities will continue, and are actively looking for opportunities with qualified partners to invest in and create premier student housing projects at universities in high growth markets.”
Located just a mile and a half off campus, The Exchange at Baton Rouge has a 1:1 ratio of bathrooms to bedrooms, and market leading amenities with three resort style pools, a fitness center, and study rooms. It is conveniently located off of Burbank Drive and is surrounded by numerous dining and retail establishments.
“We are thrilled to partner with Landmark Properties offering LSU students a best-in-class student housing community” said Peggy Lamb, managing director, Halstatt. “We are very bullish on student housing. We expect there to be pent up demand from students, combined with a slowdown in supply due to projects that were disrupted and not delivered to the market. Additionally, an increase in the U.S. population of college aged students translates to increasing need.”
Halstatt Real Estate Partners identifies value add and opportunistic real estate projects throughout Florida, the Southeast, and Texas. The company partners with qualified sponsors to develop and implement a strategic business and capital improvement plan to maximize demand driven development opportunities.
About Halstatt Real Estate Partners
Halstatt Real Estate Partners (“HREP”), a women-owned real estate private equity firm, has participated in the acquisition and development of over $1 billion in Southeast based real estate assets since 2011. Founded by the Sproul family, based in Naples, Florida, and a proud part of the Barron Gift Collier legacy in Southwest Florida, HREP invests in middle market, value add and opportunistic commercial and residential real estate projects. HREP works with best-in-class local and regional operating partners to maximize the value of its real estate investments. HREP invests alongside a cross-section of institutional limited partners from fund to fund including charitable foundations and endowments, domestic and international family offices, and corporate pension funds with a history of continuity. www.halstatt.com