Exciting Residential Improvements Coming to River Chase & Fremaux Town Center Multifamily Properties
Stirling Properties announces exciting new residential improvements planned for the Retreat at River Chase in Covington and Retreat at Fremaux Town Center in Slidell’s multifamily apartment communities. The $1 million upgrades will be spread across both properties with an emphasis on enhanced residential amenities and revitalized common spaces.
Retreat at River Chase in Covington, Louisiana
Construction work has begun on the installation of state-of-the-art seafood and grill stations. Large pavilions will be erected and equipped with grills, seafood boil space, and granite counter tops with built-in waste receptacles for discarded seafood shells. The space will also include lounge areas with fire pits and yard games. The pool area will be upgraded to include a more resort-style setting with furniture, landscaping and pull-down projection screens to watch sporting events. All amenities will be accessible for residents of the properties on a first come, first served basis.
Additionally, parcel pending lockers, also known as “smart” lockers, will be installed in central areas of the facilities to collect delivered packages and e-commerce orders for residents. A property manager will receive all deliveries, assign the packages to an individual lockbox that alerts tenants of the delivery and provides a digital access code for easy, convenient retrieval. The lockers are designed to eliminate clutter due to the overwhelming amount of daily delivered packages to residential properties and to provide an extra layer of security for parcels otherwise left unattended on doorsteps.
Work has already commenced on the projects, and anticipated completion is planned for the end of March.
Retreat at Fremaux Town Center in Slidell, Louisiana
Justin Landry, Vice President of Finance for Stirling Properties, noted that the demand for high-quality apartment properties continues to be strong, especially in high population growth areas such as St. Tammany Parish and the Northshore region of New Orleans. However, demographic shifts and technological advancements are affecting housing, and tenant expectations are becoming increasingly sophisticated in the multifamily residential market sector—they want luxury living, ample amenities, open and active public spaces, all at affordable prices.
“The Retreat at River Chase and Retreat at Fremaux Town Center are both strategically located in mixed-use developments that encompass the prevalent live, work, play environment that has grown in popularity, especially among the large millennial demographics,” said Landry. “These new residential amenities will enhance the community connectivity of our existing properties and make them much more attractive in the market as new multifamily options come online every day.”
The Retreat at River Chase (formerly Springs at River Chase) is a 296-unit luxury apartment community located within the 253-acre River Chase mixed-use development at Interstate 12 and LA Hwy. 21 in Covington, Louisiana. The Retreat at Fremaux Town Center (formerly Springs at Fremaux Town Center) is also a 296-unit multifamily community located within the Fremaux Town Center mixed-use project at Interstate 10 and Fremaux Avenue in Slidell, Louisiana. Stirling Properties’ residential portfolio includes 1800 multifamily units totaling more than 1.5 million square feet of properties throughout South Louisiana.
Retreat at Acadian Point Gets a Makeover!
Stirling Properties is pleased to announce the completion of Retreat at Acadian Point in Lafayette, Louisiana, after an extensive remodeling project. A ceremonial ribbon cutting was held last week to celebrate the grand re-opening of the property.
Stirling Properties acquired the 2-story, 384-unit multi-family complex in August of 2015, and work began on a $4 million renovation. Interior upgrades include brushed nickel hardware, faucets and fans, full-size washer and dryers in all units, new GE appliance packages, new flooring, electronic access gates, new roofs, and more. Exterior upgrades include new swimming pool area, outdoor gas grills, outdoor lounge area and fireplace, updated landscaping, a new state-of-the-art fitness center and large dog park.
“Retreat at Acadian Point is updated with new features and finishes, both inside and out, that will enhance the quality living experience,” said Justin Landry, Asset/Finance Manager for Stirling Properties. “The property looks better than ever, and Stirling Properties is excited to provide Lafayette residents with affordable luxury at a time when the local economy faces some challenges.”
Retreat at Acadian Point is located at 221 Verot School Road in Lafayette, and is currently 92% occupied. Stirling Properties fulfills the role of Asset Manager for the property, while BH Management Services serves as the primary property management firm.
Stirling Properties continues to increase our company reach and footprint. In 2010, we strategically focused our attention toward commercial property acquisition, and creating opportunities for return-driven investors seeking to put capital into real, tangible property across the Gulf South. Earlier this year, we purchased Turtle Creek Crossing shopping center in Hattiesburg, Mississippi, marking the largest retail acquisition in our 40-year history! Since 2010, we have acquired over $200 million in property, totaling 2.1 million square feet—including the Pan American Life Center, which has become the hub of our New Orleans commerce.
The acquisition of Retreat at Acadian Point is part of our on-going growth strategy, bringing Stirling Properties’ multi-family portfolio to 1,293 units!
Stirling Properties Completes Acquisition of 384 Multi-Family Unit in Lafayette, La
Stirling Properties is pleased to announce the acquisition of the 384 multi-family unit “Retreat at Acadian Point” (formerly South Point Apartments) in Lafayette, La. The August 28th closing brings Stirling’s total number of units under management to 1,512.
This 80’s vintage complex will immediately begin significant upgrades including full size washer and dryers in all units, new appliances and flooring, electronically activated vehicular access gates, new roofs, new landscaping and a new state-of-the-art work out facility.
“Retreat at Acadian Point will capitalize on its excellent location and affordability providing Lafayette residents with affordable luxury at a time when the local economy faces some challenges,” states Jeffrey Marshall, Senior Vice President of Acquisitions. “We have a long history investing, developing, leasing and managing properties in Lafayette and remain committed to the City, Parish and its residents.”
Stirling Properties fulfills the role of Asset Manager for their multi-family portfolio while BH Management Services, based in Des Moines, Iowa, reports to Stirling Properties as the primary property management firm for all of Stirling’s 1,512 units.
For more information about Stirling Properties Acquisition Team and its objectives contact Jeff Marshall at (985) 246-3765 or jmarshall@stirlingprop.com.
Stirling Properties Completes Acquisition of Ansley Place Apartments in Houma, LA
Stirling Communities II, LLC, an entity of investors led by Stirling Properties, successfully completed their acquisition of Ansley Place Apartments. Ansley Place is a 246-unit “Class-A”, luxury garden-style apartment community located at 100 Ansley Place Court in Houma, Louisiana. Completed in 2008, the Property encompasses thirteen (13) two- and three-story apartment buildings, one (1) single-story leasing office, and four (4) single-story garage buildings on 21 acres of land. The deal closed on April 1, and involved the assumption of an existing HUD 223(f) loan on the property.
“We believe the frenzied activity at Port Fourchon resulting from the return of Gulf exploration, significant expansion projects currently underway at several key service firms in the Houma area, the fully booked pipelines at the shipyards of Edison Chouest and Bollinger, and the various coastal restoration projects either underway or planned, will lead to a substantial increase in the population and employment base of the Houma area over the next five years. With its excellent location, superior floor plans, and premier status in the market, Ansley Place offers our investors a high quality asset located directly in the path of Houma’s growing economy. ,” said Justin Landry, head of Multi-Family Asset Management for Stirling Properties.
“Multi-family is an asset class that Stirling Properties has grown very bullish on in recent years based upon the demographic and economic trends in the nation,” stated Marty Mayer, President and CEO of Stirling Properties. “With the addition of Ansley Place Stirling Investors’ portfolio has grown to more than1,000 units, a significant milestone considering three years ago they did not own a single unit.”
BH Management Services, based in Des Moines, Iowa, runs the day to day activities of the property as is the case with all of Stirling’s 1,042 units.
For more information about Stirling Properties Acquisition Team and its objectives contact Jeff Marshall at (985) 246-3765 or jmarshall@stirlingprop.com.
Perkins Rowe: Excited for the Future!
Earlier this week we announced that Stirling Properties was awarded the contract for Leasing, Sales, and Property and Construction Management for Perkins Rowe. Our entire team is thrilled to work on such a high-profile property in Baton Rouge, Louisiana. The future opportunities at Perkins Rowe are very bright and we are excited to be moving forward in all aspects of Perkins Rowe – Retail, Office, Apartments and Condominiums. We hope you stay tuned for more exciting information to come in the future!
Stirling Properties Completes First Multi-Family Acquisitions
COVINGTON, Louisiana —- (AUGUST 22, 2011) Stirling Communities I, LLC, an entity of investors led by Stirling Properties, successfully completed their first acquisition which includes three Louisiana apartment communities in Lafayette and one in Baton Rouge, for a total of 370 units. The back-to-back deals closed on August 2 and August 17, 2011, with loan origination through Walker & Dunlop’s multi-family finance group and financing through Freddie Mac. (more…)
