Urban Properties to Move HQ to Lower Garden District
NEW ORLEANS – Urban Properties Real Estate LLC – a local commercial brokerage, property management and development firm – recently acquired a 5,470 square-foot building in the Lower Garden District that will be the firm’s new headquarters.
Agent Genevieve Douglass with Urban Properties discovered the off-market purchase opportunity of 1582 Magazine Street and represented the buyer throughout the real estate transaction. Regional Loan Corporation and M C Bank and Trust provided funding for the closing.
“This acquisition came at an ideal time for our company,” said Eugene Schmitt, co-founder and director of Urban Properties. “Our firm’s growth prompted us to look for a new location to house our office as well as expand our real estate portfolio. We strongly believe in the continued contextual growth of the Lower Garden District. This acquisition allows us to simultaneously grow our business and invest in a neighborhood we support. The timing and location made absolute sense for us.”
Urban Properties Real Estate is in its fifth year in business and has some major development plans in the pipeline such as a co-working space and mixed-use facility in the Warehouse District.