Baton Rouge, La. — University House Communities (UHC) has purchased the purpose-built student housing community currently known as The Standard Baton Rouge near Louisiana State University from Landmark Properties and will rebrand it University House.
The five-story, 287-unit property features 847 beds with one-, two-, three-, four- and five-bedroom floor plans that are fully furnished. Each bedroom has its own bathroom, and the units include 42-inch flat screen TVs, granite countertops, stainless steel appliances and full-size washers/dryers. Also offered are penthouse units, including rooftop patios with views of the LSU campus.
The community sits at the northern edge of LSU’s campus within walking distance to most LSU classrooms, the student union, Tiger Stadium and the Pete Maravich Assembly Center. In addition, the property features a rooftop lounge with a resort-style swimming pool, fire pits and hot tub that overlook Tiger Stadium, as well as a second, ground-floor resort-style pool with outdoor grilling and added fire pits. The community has a fitness center, yoga/spin studio, 12,000-square-foot clubhouse, game room with flat-screen televisions, golf simulator, computer center and study rooms.
Landmark was represented by Institutional Property Advisors in the transaction. A local publication reported the sale price as $108 million, or $378,000 per unit.