A New Orleans investor has purchased the Bengal Court apartments at 1413 Jim Taylor Drive in Tigerland for $800,000.
Towering Oaks BR LLC, managed by Gustavo Cabrera Jr., bought the complex from Borie & Allen Partnership in a deal that closed Friday. Cabrera plans to renovate and upgrade the property.
His investment in the complex comes as real estate experts question the sustainability of the booming student housing market in the LSU area. A substantial number of student-oriented apartments have come online in recent years.
Situated on 0.72 acres, Bengal Court is an 18,000-square-foot complex that includes three, two-story buildings with 30 one-bedroom, one bathroom apartments.
Travis Thornton of Berkshire Hathaway Commercial Real Estate-Louisiana represented the seller, and Troy Collins with NAI/Latter & Blum represented the buyer.
