Muss Development and Amesbury Companies Acquire HUD‑Insured Loan for Erdace Apartments in Lake Charles for $37M

Deal Summary

New‑York‑based Muss Development and Baton‑Rouge‑based Amesbury Companies took control of the 270‑unit Erdace Apartments in downtown Lake Charles by acquiring a HUD‑insured loan for $137,000 per unit, totaling about $37 million. The firms plan to invest several million dollars in renovations and rebrand the property as the Ryan Apartments.