St. Bakhita is a 116-unit affordable multifamily community in Marrero, Louisiana, located just outside New Orleans in the established West Bank submarket. The portfolio spans two adjacent sites, St. Bakhita Apartments (100 units) and Building 12 (16 units), operating as a single cohesive community. Delivered and placed in service in 2007 on the site of a former public housing development, the property has since earned a reputation as one of the premier affordable housing communities on the West Bank, reflecting durable demand and consistent operational performance.​

VPG secured site control through proprietary, direct-to-owner sourcing, an off-market origination that underscores the firm's ability to access opportunities outside competitive bidding processes and create value from the point of entry. Following acquisition, VPG executed its business plan to full effect, stabilizing the asset and driving a $226,000 annual increase in net operating income.​

That value creation was crystallized in December 2025, when the property completed a cash-out refinance using agency debt, returning capital to investors while retaining long-term ownership of a stabilized, cash-flowing asset. The result is a clear demonstration of VPG's full-cycle capability: sourcing off-market, repositioning through disciplined execution, and monetizing value through the capital markets.​