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An Ohio-based real estate investment firm recently purchased a student housing complex near LSU.
Coastal Ridge Real Estate purchased the Arlington Cottages and Townhomes complex on Ben Hur Road through BNCR Student Housing JV LLC from WSCR Arlington Owner IX LP, according to a deal filed with the East Baton Rouge Parish Clerk of Court’s office.
The sales agreement price was withheld. Arshon Afrakhteh of Walton Street Capital represented the seller and Andrew Lallathin represented Coastal Ridge.
Arlington Cottages and Townhomes is a 179-unit with 732 beds that offers fully furnished three-, four- and five-bedroom plans.
Birmingham, Alabama-based Capstone Collegiate Companies bought the 20.5-acre tract for the development in 2015 for $7 million. Capstone had purchased the property from Metairie-based Asterrone LLC, which comprises the family of late auto dealer Price Leblanc.
