Real estate and investment entity Project King has completed the sale of Hotel Indigo in Baton Rouge, Louisiana, to US-based company A&R Development.
Financial details of the transaction have not been disclosed.
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The sale was advised by real estate management group Cushman & Wakefield.
Jesse Lastofsky, Gabriel Shamay, David Greenberg, Rick Redmond, Chris Passeggiata, Ely Silverstein and Craig Hey from Cushman & Wakefield managed the transaction on behalf of Project King.
Hotel Indigo in downtown Baton Rouge is part of the IHG Hotel portfolio and features seven storeys and houses 93 rooms. The property underwent significant renovations in 2024.
The hotel includes facilities such as a fitness centre, restaurant and bar, guest Wi-Fi, and pet accommodation.
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By GlobalDataCushman & Wakefield senior associate Jesse Lastofsky said: “The sale of Hotel Indigo Baton Rouge Downtown highlights a compelling value opportunity, having closed at a significant discount to the capital previously invested in the asset.
“With a prime location in the heart of downtown Baton Rouge and a buyer from out of state, the transaction underscores confidence in the market’s long-term potential and presents substantial operational upside through targeted improvements.”
The hotel is located near the Old State Capitol, the Mississippi Riverfront and Louisiana State University.
The area also includes government offices, educational institutions and cultural venues, with access to major routes including Interstate-10 and Interstate-110.
A&R said it will make specific capital improvements to Hotel Indigo with the aim of enhancing the guest experience. The company intends to retain the distinct identity associated with the Hotel Indigo brand during this process.
This property is A&R Group’s second hotel in Louisiana and brings its total portfolio to 27 hotels.
A&R Group CEO Ken Patel said: “This acquisition aligns perfectly with our strategy of targeting well-positioned assets in dynamic and growing markets.
“Baton Rouge has a vibrant economy and a rich cultural scene, making it an ideal location for our portfolio.”
