26 Buildings,228 Units,3 Story Apartment Complex
Saturday, February 14, 2009
St. Tammany Parish, LA
26 buildings, 228 units, 3 story apartment complex with net rentable area of 240,588 sf on 16.27 acres. Property constructed in 1999 and recently renovated in 2007/2008
Book balance: 28M
Appraisal: 29.6m (as stabilized in April 2009)
Property’s cash flow is currently sufficient to cover debt 94% occupancy
