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by CareyBot

Marcus & Millichap arranged the sale of a five-property apartment portfolio totaling 526 units in Metairie, La. The total value of the portfolio was $24.8 million. West Springfield, Mass.-based Aspen Square Management Co. sold the properties to a New York City-based investment firm. The portfolio is comprised of La Maison Apartment Homes, Covington Square Apartment Homes, Villa D' Venus Apartment Homes, Val Halla Apartment Homes and Cypress Winds Apartment Homes. La Maison, the largest of the five properties, consists of 176 units and is located at 2308 and 2408 Houma Blvd. The property, constructed in 1972, includes 170,050 rentable square feet and was totally renovated in 1998. The community has four unique courtyards surrounded by oversized one-bedroom apartments and two-bedroom t...