DLP Real Estate Capital has announced its latest acquisition of Willow Trace, a multifamily property in Shreveport, LA. The property consists of 192 units, includes one- and two-bedrooms, and offers seven floorplan options. The sale was assisted by John A. Hamilton, broker from Vintage Multifamily.
The Willow Trace apartment community was originally built in 1978, features two swimming pools, tennis courts, and is nestled within the Club at Huntington Park Golf Course. Since construction has remained low, Shreveport’s occupancy rates have remained stable (above 90 percent for decades), making the city itself extremely appealing for a multifamily investment.
Shreveport is part of “Ark-La-Tex,” a socio-economic region where Louisiana, Arkansas, Oklahoma, and Texas intersect. It is home to many colleges and universities, the CenturyLink Event Center, Barksdale Air Force Base, Cyber Innovation Center, and several upscale riverboat casinos, all of which bring in over two million tourists each year. Additionally, northwest Louisiana supports a large and sophisticated healthcare sector, competitive manufacturing base, and a sizable and diverse service sector and supplier network.
Nicholas Lanni, Senior Associate Investments commented, “Willow Trace presents the opportunity to expand our foothold in a market we have a lot of confidence in.”