Monument Square, JDI Realty Acquire 532-Bed Community Near Louisiana State University

Baton Rouge, La. — A joint venture between Monument Square Investment Group and JDI Realty has acquired Maison Burbank, a 532-bed student housing community located near the Louisiana State University campus in Baton Rouge. The garden-style property was developed in 1996 and renovated in 2017. The joint venture plans to begin further improvements to the property imminently, including replaced roofing and deferred maintenance to drive aisles and parking lots. The community offers 134 units in two- and four-bedroom configurations. Shared amenities include a resort-style pool, picnic and grilling area, sand volleyball court, 24-hour fitness center, coffee bar and a dog park. The property was 98.5 percent leased at the time of sale. The seller and terms of the transaction were not released.