DALLAS, TX - Prime Income Asset Management (Prime), a Dallas-based advisory and management company to real estate and energy sector companies, announces the successful financing and start up construction of their newest multifamily project, The Parc at Denham Springs.
Source: Prime Income Asset Management
Parc at Denham Springs is a newly developed property offering 224 luxury residential units as well as commercial buildings compromising approximately 50,000 square feet. Construction on the property's amenity center is underway and is located on LA Highway 16, providing residents with easy access to Livingston Parish's major highway.
Parc at Denham Springs is minutes from downtown Baton Rouge. The property's 224 units each contain full kitchens with full size washer and dryer included. The facilities include an amenity center with common area, business center, fitness center, and a resort style pool.
"We closed financing for The Parc at Denham Springs in November 2009 and immediately started construction. We anticipate the opening of the property to be in October of this year and completion in March 2011," comments Al Crozier, executive vice president of residential construction. "We are proud of our continued commitment to develop high quality properties on the Louisiana Gulf Coast."
Prime Income Asset Management, LLC is a Dallas-based real estate management company and energy sector advisor, which owns, develops and manages in excess of $3.5 billion of commercial real estate for public and private real estate entities and advises energy companies with both domestic and international gas, oil and electricity operations. Affiliated companies also under management or advisement by Prime include American Realty Investors, Inc. (NYSE: ARL), Transcontinental Realty Investors, Inc. (NYSE: TCI), Income Opportunity Realty Investors, Inc. (AMEX: IOT) and Regis Property Management, LLC.