Apartments On Chimes Sells for $108.6 MILLION!
This is the one of the LARGEST sales in Baton Rouge commercial property as far as in recent history is concerned. A Dallas based firm has purchased The Standard Apartment complex which is located at 740 W. Chimes St. for nearly $108.6 Million!
University House Communities purchased the 287-unit complex. They specialize in developing, acquiring, and managing the student housing communities across the country. This apartment complex just opened in August of 2015.
A 5.5-acre tract for the complex was originally purchased by Landmark in December of 2013 for $9.84 Million, and the firm spent close to $50.6 million to develop the property. This is According to permits filed during construction.
The LSU-area complex will be rebranded as "University House Baton Rouge".
Daily Report has the full story
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