The Lodges at 777, an LSU-area apartment complex, has been sold for $84.4 million to a Georgia-based student housing developer and manager.
Landmark Properties of Athens, Georgia, acquired the complex in a deal that was filed Friday with the East Baton Rouge Clerk of Court’s Office. The seller was Saban Capital Group of Los Angeles.
The Lodges is a 382-unit complex at 777 Ben Hur Blvd. that is made up of one- to five-bedroom apartments spread across nearly 57 acres. There are 1,290 beds in the development.
The deal adds to Landmark’s portfolio of LSU area apartment complexes. The company already owns The Standard at Baton Rouge, a 287-unit development that takes up a block between West Chimes and Aster streets, and The Legacy at Baton Rouge, a 299-unit complex located just east of The Lodges, at 449 Ben Hur.
Saban and Campus Advantage acquired The Lodges in 2016 for $64.7 million as part of a deal that also involved student housing developments near Alabama, South Carolina and Penn State. At the time, the complex was called The Cottages of Baton Rouge.
The complex opened in 2011.
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