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CASTRO REAL ESTATE SERVICES WAS FOUNDED WITH THE GOAL OF HELPING CLIENTS WITH ALL THEIR REAL ESTATE NEEDS, ONE CLIENT AT A TIME. 

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2020

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262

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524

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Commercial
Who owns the Gates at CitiPlace now and what did the deal cost?

By Jordan Arceneaux

  New out-of-state owners have acquired the luxury multifamily development Gates at Citiplace Apartments in Baton Rouge. Norfolk, Virginia-based real estate investment firm Harbor Group International, represented by its CFO Carla Stoner, purchased the property through Gates Citiplace Gardens LP from David Werner Real Estate Investments of New York City. David Werner represented the seller in the transaction. Though documents filed Friday with the East Baton Rouge Parish Clerk of Court’s office list the sales price as $100 and other considerations, mortgage records indicate Gates Citiplace Gardens LP secured a $44.3 million loan to finance the deal. David Werner Real Estate Investments acquired the property for $59.6 million in 2017.

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Residential
Proposal could pave the way for expansion at Mansions in the Park

 By Jordan Arceneaux

  The Planning Commission will review a proposal to rezone a vacant 8.3-acre tract on the Mansions in the Park property along Perkins Road to potentially add 72 units as part of phase two of the development. The commission will discuss the plans at its August meeting. Deane Bryson, managing partner at Bearing Point Properties and the developer of Mansions in the Park, says they’ll evaluate the feasibility of adding new units once the property is rezoned.

Business Report

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