Park-Equities completes sale of three-hotel portfolio in Baton Rouge

US: Full-service real estate investment advisory firm Park-Equities has completed the sale of a three-hotel portfolio in Baton Rouge, Louisiana, in an all-cash transaction.

The portfolio comprises 386 units across three properties, located on Boardwalk Drive, Gwenadele Avenue and Airline Highway. The assets are set to be repositioned as extended-stay accommodation aimed at individuals and families seeking flexible housing options without long-term lease commitments.

According to Park-Equities, renovation work will begin immediately across all three properties, with plans to upgrade the accommodation and reposition the hotels as “no-hassle” extended-stay housing.

The transaction was completed in partnership with Jennifer Stein Real Estate, Inc., alongside another Louisiana-based broker of record.

Park-Equities is a real estate investment advisory firm focused on the hospitality and multifamily sectors. The company is a subsidiary of Park Brokerage Inc., which has a combined transaction volume of $2 billion.

Highlights:

Park-Equities has completed the sale of a three-hotel, 386-unit portfolio in Baton Rouge in an all-cash deal.

The properties will be repositioned as extended-stay accommodation aimed at lease-free, longer-stay residents.

Renovation work is set to begin immediately across all three assets.

Park-Equities said it is actively seeking similar hotel assets for conversion opportunities across the US Midwest, South and Southeast.