The Marquis Apartments currently sits as a 250-unit multi-family apartment complex located in New
Orleans, LA just outside of the Central Business District. The Property includes 3 buildings with 1-, 2-, 3- and 4-bedroom units. 103 of the units are restricted to tenants at 30%, 40%, and 60 AMI levels, and the remaining 147 units are unrestricted market rate units. VPG purchased the property for $9,000,000, or $36,000 per unit, and assumed
$24,151,001 in subordinate CDBG debt in March 2025. VPG will invest $1,300,000 to renovate to the
leasing office, exteriors, interiors, and infrastructure of the development. VPG plans to reach full stabilization by Q1 2026.