A New Orleans-area owner of multifamily apartments has purchased the Regency Club Apartments off South Sherwood Forest Boulevard south of Interstate 12 for $20.3 million.
Favrot & Shane, of Metairie, could not be reached for comment, though records filed with the East Baton Rouge Parish Clerk of Court’s Office indicate the property was purchased by a limited liability company with James P. Favrot and Stacey Shane Schott as principals.
Regency Club, at 11555 Southfork Ave., is made up of 312 one- and two-bedroom units in 13 buildings, according to plans filed with the city-parish. Plans show the development has 192 one-bedroom units and 120 two-bedroom units.
The seller was listed as Patrick C. Stacker’s BR Regency Club Partners.
Copyright © 2014, Capital City Press LLC • 7290 Bluebonnet Blvd., Baton Rouge, LA 70810 • All Rights Reserved