New York-based Rosemawr Management has purchased the properties of two area charter schools—in downtown Baton Rouge and Baker—for a combined $13.5 million.
Rosemawr Management bought the Mentorship Academy on Florida Street in downtown for $6.85 million, according to sales documents. The firm also purchased Impact Charter School, in Baker, for $6.6 million.
Rosemawr Management acquired the two properties from Education Capital Solutions, a Missouri-based investment firm that specializes in educational properties. According to Education Capital Solutions’ 2018 annual report to investors, the firm owned some 660,000 square feet of property in Louisiana, representing 2.7% of the company’s rental revenues for the year. As of this afternoon, however, the firm doesn’t own any properties in state, according to its website.