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12400 Jefferson Hwy., Baton Rouge, LA 70816
PROPERTY Stats
408
UNITS
384,952
sF
PROPERTY OVERVIEW
Jefferson Lakes Apartments I & II is a 408-unit affordable housing community located in Baton Rouge, LA. The property is conveniently located minutes from major retailers that include Target, Walmart, The Home Depot, and the shops at the Mall of Louisiana. Numerous restaurants, entertainment, schools, and major transportation arteries, including I-10, are nearby as well.
Phase I of the property was originally placed in service in 1992 and rehabbed and placed in service in 2008 and Phase II was placed in service in 1995 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There are existing regulatory agreements in place which require all units to be rented to income qualifying residents earning no more than 60% of Area Median Income (AMI) limits, which are provided by the Louisiana Housing Finance Agency.
The property is located in a high-income area of Baton Rouge with a median household income of over $76,000 within a 5 mile radius of the property
Baton Rouge has been a high-income growth market with a 36.98% increase in the HUD MFI from 2016 through 2022
There is tremendous operation upside at the asset through a strong value-add strategy and due to the LIHTC Restrictions on Phase II expiring at the end of 2025
Baton Rouge is a major industrial, petrochemical, medical, research, motion picture, and growing technology center of the American South
Baton Rouge is home to Louisiana State University (LSU), which had an enrollment of over 37,000 students in 2022
Major Corporations participating in the Baton Rouge metropolitan statistical area’s economy include Amazon, Lamar Advertising Company, BBQGuys, Marucci Sports, Piccadilly Restaurants, Raising Cane’s Chicken Fingers, ExxonMobil, Brown & Root, Shell, and Dow Chemical Company
INVESTMENT HIGHLIGHTS
jeff irish
Senior Managing Director
Affordable Housing
208.286.5013
jeff.irish@berkadia.com
GREGG CORDARO
Managing Director
Multifamily
225.922.4587
gregg.cordaro@berkadia.com
Contacts and Office Locations
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6225 North Meeker Place
Suite 210
Boise, ID 83713
BOISE OFFICE
BATON ROUGE OFFICE
8550 United Plaza Boulevard
Suite 702
Baton Rouge, LA 70809
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12400 Jefferson Hwy., Baton Rouge, LA 70816
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
© 2023 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
12400 Jefferson Hwy. Baton Rouge, LA 70816
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
© 2023 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
ADAM TOMBERG
Director
Affordable Housing
425.999.1152
adam.tomberg@berkadia.com
INVESTMENT ADVISORS
TIM LEONHARD
Senior Managing Director
214.360.3849
tim.leonhard@berkadia.com
CHRIS CRUMP
Managing Director
504.322.1196
chris.crump@berkadia.com
MORTGAGE BANKING
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