California company buys two high-end Baton Rouge apartment complexes

California real estate firm Passco Companies has acquired two luxury apartment complexes in the Baton Rouge area. 

According to a company announcement, Passco has purchased 276-unit Tapestry Long Farm from the property’s Alabama-based developer Arlington Properties and the 276-unit Sweetwater Apartment Homes from Hammon developer Stoa Group, for an undisclosed price. 

Passco’s recent acquisitions of the complexes in Baton Rouge and Addis were spurred by the ongoing supply shortage in Baton Rouge, its announcement says, with real estate trade publication The Real Deal reporting a two-thirds decrease in available rental properties since the start of the pandemic. Arlington Properties will manage both assets moving forward.

Sweetwater Apartment Homes is in close proximity to LSU and the 3,000-employee Dow Chemical plant and Tapestry Long Farm is off Airline Highway and Antioch Road.