An investment group assembled by A.C. Lewis Management completed today the purchase of Hidden Pointe Apartments for $8.8 million, or $71,000 per unit.
Located at 11850 Wentling Ave. near South Sherwood Forest Boulevard, Hidden Pointe Apartments is a 124-unit, Class B community with 120,000 square feet of rentable space.
The purchase increases the number of properties A.C. Lewis Management owns in Louisiana to 13. Other Baton Rouge properties the company owns include: Parc Fontaine, at 1100 S. Foster Drive; Jefferson Arms, 10390 Jefferson Highway; and Provincial and Crillon Apartments, 1201 N. Foster Drive, among others. The company also owns properties in Lafayette and Houma.
“We purchased Hidden Pointe Apartments as another value-added property for our portfolio,” says A.C. “Bubba” Lewis, the company’s owner. “We plan to upgrade kitchens and baths as units turn and take advantage of the growing local market along Airline Highway.”
Hidden Pointe consists of one-, two- and three-bedroom apartments ranging in size from 720 square to 1,200 square feet.
Current occupancy is 94%, the company says.
