NEW ORLEANS, LA – (September 15, 2023) – Kodiak Partners, a dynamic real estate private equity firm specializing in strategic acquisitions and developments, has recently acquired “The Pines”, a 40-unit apartment complex in the heart of Broussard, Louisiana.
An Off-Market Transaction Within a Tight Timeframe
Accomplished off-market, this transaction was completed in less than six weeks. Working with a seller who wanted to offload an asset without disturbing their current tenants, the Kodiak team fulfilled their due diligence within a tight timeframe while successfully structuring a deal that met the seller’s needs. After renovations are complete, “The Pines” will be reimagined into a striking 40-unit apartment complex on 5 acres of land.
“I am excited to announce the completion of our latest transaction in Broussard. This was a situation where the seller was looking to move on from an asset that required substantial renovations and our investment team was ready to move and close within forty days,” said Sam McGovern, Managing Partner of Kodiak Partners.
In addition to completing this transaction in a quick timeframe, the seller’s closing costs were covered and the property was purchased in “as-is” condition. Kodiak’s CEO, Scott Matthews, gave an in depth look at Kodiak’s strategy in 2023. “In a market that seems to be more in-flux every day, Kodiak remains committed to acquisitions of multi-family assets throughout the Gulf South. We are fortunate to have a robust in-house analytics team that allows us to identify value-ad opportunities in our buy-box.”
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