Condemned Ruston Apartments Owned by Bankrupt Monroe Company, Documents Show

The tax rolls of the Lincoln Parish Tax Assessor’s Office indicate the owner of a recently burned Ruston apartment complex is a Monroe, LA based company, Lincoln Parish News Online (LPNO) has learned. Drew Properties of Ruston, LLC, 104 Silver Drive, Monroe, LA 71203 is listed as the owner of the property located at 620 Henderson Street, Ruston.

See here the document.

Also, Drew is currently operating under Chapter 11 of the U. S. Bankruptcy Code, and last December filed a motion asking the bankruptcy court for permission to auction off the property and satisfy the creditor’s claims. Listed as holding the mortgage is LSREF2 Baron, LLC, Dallas, TX. Here are the documents:

Voluntary Petition for Chapter 11 Bankruptcy
Order Confirming Chapter 11 Plan
July 2013 Operating Report
Motion to Sell Real Property of Debtor
Limited Objection to Motion to Sell Property of the Debtor

Attorney for the debtor is Bradley Drell, of Alexandria law firm Gold, Weems, Bruser, Sues & Rundell.

Several apartments suffered extensive fire damage earlier this month, and yesterday the entire complex was shuttered by the state fire marshal because of “conditions found to exist that are especially liable to fire or dangerous to life.” According to media reports, nearly 100 tenants were displaced.

The Lousiana Secretary of State’s website of companies show Drew’s status as “inactive,” and list the Monroe address as both the domicile and mailing address for the company.

See here the document.

The company manager is listed as Doris Faust Andrew.

Local property taxes were paid for tax year 2013, according to the records of the Lincoln Parish Tax Collector’s Office. See here the documents:

2013 Tax Receipt

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