Dobbins Group LLC has sold The Collins, a multifamily community in Covington, Louisiana, for $61.7 million. The Birmingham-based real estate investment firm was represented by brokerage firm Cushman & Wakefield and Larry G. Schedler & Associates Inc.
Completed in 2020, The Collins has 272 units made up of two-story apartment homes with ground-floor private entries, direct-entry garages and private patios and balconies. All homes feature custom cabinetry and granite countertops in the kitchens. Units are available with one, two or three-bedroom options.
“We are very proud of this beautiful development, which brought a new level of multifamily living to Covington and the entire Northshore region,” said David Ball, principal of Dobbins Group. “It strikes the perfect balance between luxury and ease with a location that’s convenient to the entire New Orleans MSA, including historic downtown Covington.”
The community also features a clubhouse, pet grooming spa, pet park, walking trail, athletic center, grilling stations, saltwater pool and a poolside fire lounge.
“The sale price set a new multifamily benchmark for Louisiana due to the quality of the development and its strategic location along the I-12 corridor in Covington, Louisiana,” said Larry Schedler, principal of Larry G. Schedler & Associates Inc.
Dobbins Group was the owner and developer of The Collins, with Capstone Building Corp. serving as general contractor and Humphreys & Partners Architects LLC as the architect.
Dobbins Group specializes in affordable/workforce housing, mixed use, suburban, urban infill, repositioning and value add properties.