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 townhomes. The unit mix includes one studio, 70 one-bedroom/one-bath apartments and 105 two-bedroom/1.5-bath floor plans with sizes ranging from 630 square feet to 1,132 square feet. The complex also features two swimming pools.

Covington Square was constructed in 1976 and totally renovated in 2001. The 135-unit property is located at 4828 Zenith St. and totals 102,685 rentable square feet. Covington Square offers six floor plans ranging from 385 square feet to 1,225 square feet. The unit mix consists of one studio, 76 one-bedroom/one-bath apartments, 24 two-bedroom/one-bath floor plans and 34 two-bedroom/1.5-bath units.

Villa D’ Venus features 79 units surrounding a lush courtyard with swimming pool and sun deck. The gated community, located at 3124 Lake Villa Drive, was constructed in 1971 and totally renovated in 1995. This community offers 55 studios and 24 two-bedroom/two-bath floor plans totaling 67,650 rentable square feet.

Located at 1224 Lake Ave., Val Halla is a 79-unit community totaling 60,939 rentable square feet. The property was constructed in 1970 and totally renovated since 1998. Val Halla offers 11 studios, 49 one-bedroom/one-bath, 18 two-bedroom/two-bath and one three-bedroom/two-bath units. The size of the units ranges from 450 square feet for the studios to 1,239 square feet for the three-bedroom apartment. The community also features a pool and tropical courtyard.

Cypress Winds is a 57-unit complex located at 2105 Cleary Ave. Built in 1971, the property was totally renovated in 1998. The property’s units surround a European-style courtyard, and amenities include a swimming pool and spacious sun deck. Cypress Winds totals 38,510 rentable square feet, and its unit mix includes one studio, 18 one-bedroom/one-bath apartments and 38 one-bedroom/one-bath townhomes.

Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage.


What’s your opinion? Send your Letter to the Editor to

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription