Halstatt Real Estate Partners, a real estate private equity firm, has sold The Legacy at Baton Rouge, a purpose-built student housing complex located near Louisiana State University (LSU).
The community features 299 units with 898 bedrooms as well as luxury amenities including a gym, study room and three resort-style pools.
Halstatt partnered with Landmark Properties to acquire the property in March 2021 and quickly implemented a value-add enhancement and rebranding plan that substantially increased rental rates and occupancy.
“The Legacy provided an attractive opportunity to acquire a well-amenitized, affordable, and purpose-built student housing community within a high-growth market,” said Peggy Lamb, principal, Halstatt Real Estate Partners. “With our rebranding and value-add program, we improved and repositioned the asset, which resulted in the property being fully leased for the 2021–2022 academic year and 100 percent preleased for the 2022–2023 s