$20M Louisiana apartment deal

Diamond Lakes Apartments, a 312-unit multifamily community in Lafayette, La., has sold for $20.1 million, or $64,423 per unit.

A locally based private investment group purchased the asset from a Massachusetts-based investment group.

Located at 2700 Ambassador Caffery Parkway, the 249,100-rentable-square-foot apartment community consists of 16 two-story buildings on a 13.17-acre lot. The garden-style buildings offer one- and two-bedroom units, ranging from 650 square feet to 1,000 square feet.

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