Property: 3250 & 3270 Carlotta Street, Baton Rouge, Louisiana
Property Type: 14-unit multifamily | Two buildings | LSU campus
Sale Price: $1,150,000 Contract to Closing: 30 days
Representation: Seller, Neighbors Federal Credit Union
Co-Listing Advisors: Justin Langlois, Stirling | Mark Segalla, JRE Brokerage
Neighbors Federal Credit Union had foreclosed on a 14-unit multifamily property on Carlotta Street, located on LSU’s campus, and needed to dispose of the asset. The two-building complex was fully occupied and had been renovated, with below-market rents presenting an opportunity for a new investor. The assignment called for a targeted marketing effort and a buyer capable of closing efficiently.
Although multifamily is part of our investment sales business, this property called for especially specific market knowledge. The challenge was to put the right expertise in front of the client, even if that meant looking outside our own office.
Justin invited friendly competitor Mark Segalla of JRE Brokerage to co-list the property. Mark had previously marketed the asset, knew its history, and maintained close relationships with buyers active in this segment of the multifamily market.
Justin also works alongside an outstanding multifamily specialist, Chad Rigby, whose office is right next door to his. But Mark’s direct familiarity with this particular property made him a natural fit for the assignment. Sometimes serving a client well means knowing exactly who to bring to the table, even when that person is technically a competitor.
Together, the brokers brought the property to market, presented its stabilized occupancy and rental upside, and generated multiple offers within a few weeks. They then worked with the selected buyer and seller to maintain momentum through the purchase agreement and closing.
The property sold for $1,150,000, closing September 16, 2026. From the signing of the purchase agreement to closing, the transaction took just 30 days, an unusually fast turnaround in commercial real estate. The credit union completed its disposition, and the buyer acquired an income-producing multifamily asset on LSU’s campus.
The bigger lesson is that clients hire us to solve problems and get deals done, not to protect our egos. Sometimes the right move is to bring in a specialist, and occasionally that specialist happens to be a competitor. This time, the approach produced multiple offers and a 30-day closing.
Working with Justin on this deal was a blast. Often, brokers shy away from working on projects with our “competitors” for fear that they may be outshined. That is not the case with Langlois. He is a class act…it felt like we had been working together for years!
Mark Segalla, JRE Brokerage