Done deal: A New York investment group has purchased the King’s Court apartment complex at 2888 Dougherty Dr. for $2 million in a deal that closed Wednesday. Pine Square Apartments LLC bought the property from GTB Properties LLC. Justin Langlois, Troy Collins and Natalie Lafont of Sperry Van Ness | Graham, Langlois & Legendre represented the purchaser. Lil Lalumandier of Lalumandier & Associates represented the seller. The first floor of the 183-unit complex, which sits on seven acres, was damaged during the August flood. The new owners have gutted the damaged areas and plan to investment $1 million to renovate the complex, according to Collins. The renovations are expected to take about 45 to 60 days.
A new high: LSU is graduating more student-athletes than ever before. LSU says its Graduate Success Rate, as reported to the NCAA, reached 88 this year, which is four points higher than the all-time high GSR posted last year by LSU. Among all SEC schools, LSU ranks fourth for its GSR, which is also four points higher than the NCAA Division I. Eight sports led LSU with perfect scores of 100—men’s golf, men’s tennis, women’s golf, gymnastics, women’s tennis, women’s swimming, volleyball, and women’s track/cross country, the university says. The NCAA developed the GSR to more accurately assess the academic success of student-athletes and to hold institutions accountable for transfer students, unlike the federal graduation rate. Read the full release.
New post: U.S. Rep. Cedric Richmond, the lone Democrat in Louisiana’s delegation, has been elected chairman of the Congressional Black Caucus, USA Today reports. The post gives him a national platform to push criminal justice reforms and other priorities. He will take the post at the start of the new Congress Jan. 3. The New Orleans congressman, who defeated Mayor Kip Holden in the November primary election, beat out Rep. Yvette Clarke, D-N.Y., in a secret ballot. The election followed House Democratic leadership contests earlier Wednesday when California Rep. Nancy Pelosi was re-elected minority leader. Read the full story.
