Property Name: The Oaks at Riverbend
Developer: Stoa Group
Property Type: Multifamily / Garden Style / Class A
Location: Gonzales, Louisiana (Baton Rouge MSA)
Year Built: 2023
Purchased: 2025
Units: 299
The Oaks at Riverbend | Gonzales, LA (Baton Rouge MSA) | 299 Units
A garden-style, Class A multifamily community in Gonzales, Louisiana, The Oaks at Riverbend offers 299 units and was completed in 2023. Located within Ascension Parish, one of the fastest-growing areas in the state, the property benefits from exceptional demographics and economic tailwinds. Ascension’s population has surged 55.4% over the past decade—123% faster than Baton Rouge and nearly 1,900% faster than the Louisiana average—fueled by job growth, low unemployment (2.4%), and strong public-school performance. The area’s multifamily rents grew by 2.7% from 2019–2024 and are projected to grow another 2.9% through 2029.
The property offers one-, two-, and three-bedroom units with top-tier amenities, including a resort-style pool and game lawn, fitness center, private garages, dog park, and co-working space. The acquisition was completed in May 2025 for $184K/unit—well below estimated replacement costs of $220K–$240K/unit. By comparison, Passco acquired a similar garden-style property in May 2022 for $285K/unit, and Starboard acquired another that month for $229K/unit, positioning Griffin Capital’s basis as highly favorable.
With no competing properties under construction within a 15-mile radius and nearly 30% of the surrounding population in the prime rental age cohort (20–39 years old), the asset is well positioned for long-term value and income growth.
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