The Baton Rouge Area Foundation has acquired via an internal transaction the parking lot located at the foundation’s headquarters downtown at 402 N. 4th St. According to sale records, BRAF purchased the lot—which measures about 14,000 square feet, or slightly less than one-third of an acre—for $1,022,089.60. The seller was a limited liability company called 40 on 5th, whose manager is John Davies, president and CEO of BRAF.
Tina Rance, spokesperson for Commercial Properties Realty Trust, the real estate arm of BRAF, says the transaction does not signify any development plans by BRAF.
“We are not starting a 40 on 5th project—that was just the name of the entity” that sold the lot, Rance says in an email to Daily Report. “It’s our parking lot where our employees and BRAF’s employees park.”
—Steve Sanoski
