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.
Stirling Properties Announces Additional Shareholders
Donna Taylor
Jeffrey Marshall
Paul Mastio
Townsend Underhill
COVINGTON, Louisiana —- (DECEMBER 8, 2011) Stirling Properties is pleased to announce that effective January 1, 2012, Donna Taylor, Jeffrey Marshall, Paul Mastio, and Townsend Underhill will become shareholders of Stirling Properties, LLC. They join Marty Mayer, President and CEO, and Lewis Stirling and Grady Brame, Executive Vice Presidents, as part of the company’s new ownership team. “As we continue to look ahead and lay a solid foundation for the future, I am particularly pleased that this group of highly professional, talented and dedicated individuals will be part of our ownership team,” commented Mr. Mayer. (more…)
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…)
