Siegen Lane apartments sold for $7M

    The Chateau Wein at Siegen apartments on Siegen Lane have sold to a Houston-based real estate investment group for $7.5 million, according to sales documents.

    NVR-JIG Chateau Wein LP, a subsidiary of Juniper Investment Group, bought the 144-unit complex from Lafayette-based Weinstein Et Al LLC at $52,083 per unit.

    Rents at the complex start at $700 and run as high as $950 depending on the number of bedrooms, according to Realtor.com.

    The complex—built in 1985—is in the process of changing its name to Siegan Calais, according to an apartment employee.

    Juniper Investment Group was founded in 2000 by Jay Rippeto to purchase Class B and C multifamily properties throughout the country’s sunbelt area, according to the group’s website. Juniper has spent more than $900 million acquiring approximately 24,000 units in 13 states, including five complexes in Baton Rouge.

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