Griffin Capital (Heritage – Gonzales, LA) DST
High-quality multifamily asset: The subject property was newly constructed in 2023, and Griffin acquired at significant discounts to both replacement cost and nearby comps. The property is 96% leased (managed by Greystar), and is walkable to retail to retail and transit to employment.
Strong and proven market: Gonzales, Louisiana is positioned between Baton Rouge and New Orleans, benefiting from major nearby industrial projects, population growth in prime renter demographics, and an attractive mortgage cost to rent cost ratio (about 2x). The immediate area exhibits strong income-to-rent ratios and is a top 3 school district in Louisiana. There is no new multifamily construction within a 15-mile radius of the property.
Attractive fundamentals: Year 1 cash-on-cash yield of 4.58%, 43.2% loan-to-offering price, and attractive appreciation potential given the substantial discount to nearby comps.
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