Monument Square Investment Group, a private alternative investment firm based in Beverly Hills, California, has acquired all 127 lots in D.R. Horton’s University Grove student housing community off Nicholson Drive.
The firm purchased the property from D.R. Horton for $10 and other considerations, according to documents filed last week with the East Baton Rouge Parish Clerk of Court’s office.
Ben Poirier, managing partner at Monument Square, represented the buyer. D.R. Horton CFO Bill Wheat represented the seller.
Although sales documents list the price as $10 in cash, mortgage documents show Monument Square secured a $22.8 million loan to finance the acquisition.
Completed in 2024, University Grove features cottage-style homes, offering three-bedroom floor plans.
D.R. Horton purchased the land from developer Art Lancaster for $7.1 million in February 2024. The Planning Commission approved plans for the development in 2021.
Earlier this month, the homebuilder also sold all 112 lots and a common area tract within its Villas at Oak Bend community off South Harrells Ferry Road to New York-based Four Corners Development Group.
