Utah real estate investment firm buys Siegen Lane properties for $2.2M
A Utah-based real estate investment and property management firm has purchased two lots, each roughly 2.3 acres, on Siegen Lane just south of Perkins Road.
Baton Rouge LA Senior Property LLC, represented by ROC Seniors Housing Holding LLC and Baton Rouge LA Senior Holdings LLC, paid an estimated $2.2 million for the tracts, which are located between the Siegen Lane Office Center and Siegen Village subdivision, according to records from the East Baton Rouge Assessor’s Office.
The seller is Simmons-Lockard 29 Property Company, represented by Robert L. Smith Jr. of Cedar Falls, Iowa. The deal closed May 19 and sale documents were filed with the East Baton Rouge Clerk of Court Thursday afternoon.
Current plans for the properties are unknown.
Baton Rouge LA Senior Property is a Delaware limited liability company with an Orlando-based address belonging to Bridge Investment Group, a real estate investment firm that manages over $7.4 billion in assets within the firm’s registered investment advisory businesses.
On its website, Bridge Investment Group describes itself as a “1,000-person, nationwide ‘boots-on-the-ground’ operating platform. The firm says it seeks above-market opportunities in multifamily, affordable housing, seniors housing and medical properties, debt strategies and office.
Blake H. Peeper, chief acquisitions officer of the firm’s ROC Seniors Housing Fund Manager, and Robb Chapin, CEO of the firm’s Seniors Housing and Medical Properties, both decline to comment about the purchase, saying it would be more appropriate to do so at a later date.
Both men are based in Orlando.
Bridge Investment Group has offices in Salt Lake City, Orlando, New York, Atlanta, San Francisco and Hong Kong.