Firm buys Alvin Dark apartments for $7.2 million
A Metairie-based company has purchased The Zone, a 200-unit apartment complex in Tigerland, for $7.2 million. PPQBR purchased the complex at 2000 Brightside Drive in a deal that was filed Tuesday with the East Baton Rouge Clerk of Court’s Office. The seller was Sheltering Palms-Baton Rouge II LLC, a group based out of Boca Raton, Florida. Pratt Provosty, who handles apartment acquisitions for PPQ Development, said the plan is to spend a yet-to-be determined amount [...]
Groundbreaking on Covington Office Park
New Orleans City Business Cypress Bend Real Estate Development LLC broke ground in March on a $48-million 24-acre office park in Covington. The development will include a four-story, 105,000-square-foot Class A office building, an adjoining executive conference center and a 52,000-square-foot health club. The Lemoine Co. of Lafayette is the contractor on the project. The new office park will be off Ochsner Boulevard near the intersection of Interstate 12 and Louisiana Highway 21. LLOG Exploration [...]
St. Tammany Council Grants Zoning Change for Brookstone Park Apartments
Council Grants Zoning Change Apartments get OK southwest of Covington Friday, February 15, 2008 By Charlie Chapple The St. Tammany Parish Council, despite opposition from about 30 residents Thursday night, reversed a December decision by the Zoning Commission and granted a zoning change sought by developers for a 240-unit apartment complex southwest of Covington. At the urging of Councilman Marty Dean, who represents the area, the council voted 12-1 to rezone almost 15 acres west [...]
PPQ Purchases Office Buildings
PPQ Purchases Office Buildings Two office buildings located in Metairie were recently purchased by Yale Street Investors, LLC a local group headed by PPQ Development. CEO Quentin D. Dastugue, CCIM. Other partners include Paul F. Dastugue III, CPM and Pratt Provosty. Ironically, these two buildings were developed by the Dastugue’s father in the late 60’s. Both brothers literally “grew up” in the building working for their Dad’s real estate company Medallion Realty. “This was truly [...]
Palmetto Apartments First to Reopen
Palmetto Apartments First to Reopen Palmetto Apartments a 124 unit low income Apartment Community that was severely damaged during Hurricane Katrina has reopened to the public. Palmetto is the first low income apartment complex to reopen since the Hurricane. "We are very proud of the Herculean effort made by all involved to get the property open", stated Paul Dastugue III, CPM who headed up the reconstruction effort at the property.
Heavens Drive Condo Conversion
Heavens Drive Condo Conversion "Heavens Drive Apartments located directly across from Beau Chene in Mandeville is being converted to condominiums", announced Quentin Dastugue, CCIM and CEO of Property One, Inc. Dastugue, his brother Paul and Pratt Provosty purchased the 64 unit property approximately 3 years ago. "This property is perfectly layed out for home ownership", sited Dastugue, "and the prices are very attractive".
Partnership Acquires New Orleans Complex
Partnership Acquires New Orleans Complex A partnership consisting of Property One Owner's Paul and Quentin Dastugue teamed up with Property One Multifamily Acquisition specialist Pratt Provosty to acquire the Palmetto Apartments. Palmetto a 124 unit multifamily complex located in New Orleans will undergo a complete renovation beginning in early November, stated Provosty. We are very excited about the potential for this property and it's long term future.