A Florida-based company has purchased the Crowne Plaza hotel property on Constitution Avenue near Interstate 10.

Jacksonville, Florida-based APM Property Holdings LLC bought the property, from Baton Rouge Hotel LLC and BR Capital Holdings Inc., according to a deal filed Tuesday with the East Baton Rouge Parish Clerk of Court’s office.

The parties reported the deal closed for $10 and other considerations, but signed documents filed related to the agreement list the property’s purchase price as $18 million.

It’s currently unclear whether any changes will be made to the hotel—efforts to reach longtime manager Ed Baker were unsuccessful.

Steven Rayman, Evan Rayman and Alan Feldman are the executives listed as officers for BR Capital Holdings, a subsidiary of Big Rock Equities, which also owns the Holiday Inn on Constitution Avenue. Rayman Associates LP had bought the property from Aetna Life Insurance Company for $7.5 million in 1994. 

The five-story hotel was built in 1973 and was last renovated in 2019. 

Alireza Morirahini represented the buyer and Evan Rayman represented the seller. Business filings list Morirahini and Parvin Mosavi as APM Property Holdings LLC managers. Jeremy Hebert of Becker & Hebert in Lafayette is the registered agent.