Baton Rouge Regency Club Apartments has sold the 312-unit Regency Club Apartments at 11555 Southfork Ave. to a large apartment owner in the New Orleans market for $20,253,000. BR Residential Associates Three LLC, represented by Favrot & Shane Companies, bought the complex on Dec. 13. The property was brokered by Apartment Realty Advisors; the agents handing the deal were Chad and Boyce Rigby, and Matt Heiniger. The firm specializes in brokering multifamily properties nationwide. The Regency Club Apartments consist of a mix of one- and two-bedroom apartments, with an average apartment measuring 808 square feet. BR Regency Club Partners have held the property since 2006, when it bought the complex for $20,725,000. The latest sale price works out to about $64,900 per apartment. The new owner intends to add the complex to its portfolio of holdings.
(Appraiser Tom Cook owns Cook Moore And Associates. Reach him at 293-7006 or TCook@cookmoore.com.)
