Institutional Property Advisors Closes Multifamily Asset Sale in Bossier City Louisiana
BOSSIER CITY, La., July 27, 2023 – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale of Stockwell Landing Apartments, a 241-unit apartment complex Bossier City, Louisiana.
“The property has a history of consistently high occupancy and solid economic performance,” said John Hamilton, first vice president investments in Marcus & Millichap’s Baton Rouge office. “We achieved a strong price point for our seller and delivered a well-regarded property with excellent potential for long-term financial growth to the buyer.” Hamilton and IPA’s Will Balthrope and Drew Garza represented the seller, and procured the buyer, RCMI. Steve Greer is Marcus & Millichap’s broker of record in Louisiana.
Built in 2005 on 11.5 acres, the property is 14 miles from Downtown Shreveport and easily accessible from Interstate 220. Bossier Parish Community College is close by, and Louisiana State University Shreveport, Barksdale Air Force Base and Shreveport Regional Airport are within a short drive. Shopping and entertainment are close to the property at the Oak Thicket Shopping Center and Brandon Square Shopping Center.
“IPA’s Texas-based multifamily team provides investors with a large inventory of high-quality multifamily investment opportunities in every market, offering local market research and sales expertise in Dallas-Fort Worth, Houston, Austin, San Antonio, and Louisiana,” said Balthrope.
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About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.