IRVINE, Calif., (June 11, 2009) - Thompson National Properties, LLC, announced today the acquisition of the Millennium Towne Center in Baton Rouge, Louisiana on behalf of Delaware Statutory Trust investors.
"This property is an exceptional addition to the portfolio," said Anthony W. "Tony" Thompson, Chairman and Chief Executive Officer at Thompson National Properties. "TNP has a team in place with the ability to close on a significant property in the current economic environment and I think this speaks to the talented partners we have working on behalf of 1,500 investors."
"Millennium's key location and numerous amenities provide residents looking for a unique, luxury community in Baton Rouge, a market with a vibrant economy and low unemployment, with a rare lifestyle opportunity," said Steve Corea, Senior Vice President, Acquisitions at Thompson National Properties.
The Millennium Towne Center is located at 6810 Jefferson Highway in Baton Rouge. The property, a distinctive asset completed in late 2007, includes 276 well-appointed units with an impressive average unit size of 1,033 square feet. This luxury multifamily community boasts trend setting, modern amenities, including internet connections in key room and common areas, a high tech athletic center and stylish contemporary architecture. The residences also offer varied decor options to meet the diverse needs of today's discerning tenant. The property's 11 buildings have ample parking including, private garages and open air spaces. Millennium Towne center benefits from being only one mile north of Interstate 10, providing easy connections to numerous intersecting highways.
Thompson National Properties, LLC provides real estate investment opportunities and asset management to high net worth domestic, foreign, individual and institutional investors. As of June 11, 2009 Thompson National Properties has 76 commercial properties totaling more than 10.8 million square feet under management. For more information regarding Thompson National Properties, please visit www.tnpre.com.
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