HOUSTON – Miami-based Advenir Inc., a prominent multifamily investor active across southeast Texas, has acquired a residential project in Lake Charles, Louisiana, near the Texas–Louisiana border.
Lake Charles, situated about three hours west of New Orleans and two hours east of Houston, is home to several gaming casinos and serves as a regional employment and entertainment center.
Advenir purchased the 224-unit Charlestonian at Lake Charles, located in the Barbe district near McNeese State University and the Prien Lake Mall. The community was reported to be 96 percent leased at the time of acquisition.
Holliday Fenoglio Fowler arranged $25.72 million in acquisition financing for Advenir through Freddie Mac’s CMBS Execution (CME) program, supporting the company’s expansion in the region.
Headquartered in Aventura, Florida, near Miami, Advenir has been actively investing in East Houston and surrounding markets over the past several years, with a strategic focus on Class B apartment communities. In a prior transaction last fall, the firm acquired the 320-unit Park Lakes Apartments, located just south of Loop 610 near the Astrodome.
Advenir’s portfolio currently includes approximately 12,000 apartment units with an estimated total value exceeding $2.4 billion.