Block Funds & Block Multifamily Group Purchases The Village at Juban Lakes from CST Land Developers

DENHAM SPRINGS, La.— Aug. 31, 2016 —Block Funds, a real estate equity firm, and Block Multifamily Group (BMG), a national multifamily management services company, recently closed on the acquisition of The Village at Juban Lakes, a 144-unit Class A multifamily community located in Denham Springs, La.

“We are excited to enter the Louisiana market,” said Kenneth G. Block, Managing Principal of Block Real Estate Services, LLC. “We look forward to collaborating with an established Louisiana-based firm, CST Land Developers, LLC.”

The Village at Juban Lakes was developed in 2009 by CST Land Developers LLC, a firm specializing in Class A multifamily developments in the Capital region of Louisiana and in New Mexico.    CST was originally formed in 2006 by attorneys Tom Delahaye, Stan Baudin and Chris Coffin of Plaquemine, La. The firm now operates in East Baton Rouge Parish. “Our firm is keenly focused on a highly specialized segment of the real estate development market: multi-family apartments,” said Delahaye, Managing Partner.

The Village at Juban Lakes is located in Denham Springs, Louisiana. “The property was not impacted by any of the recent flooding in Baton Rouge and surrounding areas,” according to Delahaye.  The Village at Juban Lakes is located strategically near the $550 million shopping complex, Juban Crossing.   Because of the strong demand, Block and CST, through a multi-million dollar joint venture, foresee additional multi-family development on CST’s remaining 39 acres in Denham Springs.

The multifamily property boasts unique features in its spacious, open floor plans that include stainless steel appliances, faux wood floors and faux granite countertops. Residents of the gated neighborhood can enjoy plenty of the community’s amenities including a private dog park, a resort-style pool with swim-up cinema and a fun-filled playground.

Block Funds is a leading real estate private equity firm with more than $1 billion in commercial property under management. Block Funds allows accredited investors seeking income, capital preservation and appreciation an opportunity to earn high, stable cash yields and competitive risk-adjusted returns with low correlations to other asset classes through investment in institutional quality commercial real estate. The Block Funds team has a combined 200 years of commercial real estate experience and has been involved in over $2.5 billion in real estate transactions. Block Funds investment professionals manage four private equity funds and hundreds of syndicated partnerships, leveraging Block Real Estate Services’ national network of relationships to source exclusive transactions with exceptional returns.

Block Multifamily Group (BMG) provides multifamily management services in a wide geographic area. Our de-centralized management, coupled with a centralized financial center, enables our staff to provide proactive property management services in a timely manner. Effectively managing our clients’ needs is the focal point of our operating philosophy. Covering conventionally-financed multifamily assets as well as HUD-insured and Low Income Housing Tax Credit (LIHTC) properties, BMG is able to provide services for a wide client base.

BMG and Block Funds are divisions of Block Real Estate Services (BRES), a full-service commercial real estate company managing over 37 million square feet of retail, office, industrial, and multifamily properties for equity partnerships and third party owners. BRES’s portfolio of services continues its role as the most comprehensive commercial real estate firm in Kansas City by providing and specializing in: real estate brokerage services, tenant representation, investment services, asset and property management, economic incentives consultation, financial services, and construction and development services.

 

 

For more information contact:

 

Bill Larson, CPM

President

Block Multifamily Group

913.387.1113

blarson@blockmultifamily.com

 

Grant O. Reves

Acquisitions

Block Funds

816.412.5879

greves@blockllc.com

 

Tom Delahaye

Managing Partner

CST Land Developers, L.L.C.

225.933.3584

Tom@cstlanddevelopers.com