A cottage homes development in southwest Lafayette has been sold to a California real estate company for nearly $20 million.
Cal World Group, which also owns a residential development in Lake Charles, bought The Cottages at East Broussard at 101 Norcross Drive from Bryan and Sylvia McLain with McLain Investments for $18.8 million, land records show.
The development features 93 one-, two and three-bedroom homes for rent and was designed to offer homes for rent that each included a backyard, private parking, a front porch, concierge services and maintenance, according to its website. The community is gated and features a clubhouse, indoor and outdoor community areas and a business center.
The development first opened in 2015, Bryan McLain said, and is billed as Louisiana’s first exclusive membership home community, according to its website.
Cal World Group owns several commercial and residential properties in California along with the 94-unit Country Club Cottages, a similar development in Lake Charles.
It’s the latest in the McLain’s cottage developments to be sold. They sold the Cottages at Southpark, 101 Shallowford Drive in Broussard, in February 2020 for $5.4 million.