A downtown Donaldsonville restaurant and hotel is expected to reopen after being purchased by a Korean investment group tied to major industrial development in Ascension Parish.
SSK LA LLC, a Delaware-registered entity with an office address in Duluth, Georgia, purchased the 25,000-square-foot property at 416-420 Mississippi St. The company bought the property in May for roughly $2.25 million. Lindsey Redhead, a broker with commercial real estate firm Elifin, represented the sale.
The business could not be reached for comment.
The property includes The Inn on the River, a 16-room hotel, The Columns on the River Event Hall and Gastonβs BBQ and Beer Restaurant.
Redhead said on Monday that the property will continue to operate as a hotel and is expected to open within two weeks. She said the building didnβt need major renovations.
The purchase comes as Korean investment in Ascension Parish continues to grow alongside major industrial development projects, like the planned facility in the region.
βTheyβre going to see a surge in this new workforce coming there, and itβs going to be a big opportunity for people on the west bank of Ascension to capitalize on this growth,β Redhead said.
Redhead said the first part of the property was built in the early 1900s as a bank, and three vaults are still inside the building. The property was later expanded to include a restaurant and lodging.