Stirling Announces Additional Shareholder
Stirling is pleased to announce that effective January 1, 2023, Justin Landry will become a shareholder of Stirling Properties, LLC. Landry joins Marty Mayer, President, and CEO; Townsend Underhill, President of Development; Grady Brame, Executive Vice President; Donna Smith, Executive Vice President; and Paul Mastio, Chief Financial Officer, as part of the company’s ownership team. Justin is also being promoted to Sr. Vice President of Development and Finance.
Landry joined Stirling in 2007, where his primary focus has been to oversee the economic feasibility of Developments and Acquisitions across all of Stirling’s property types. He also manages a $1.2 billion debt portfolio of over 80 real estate loans. Justin has been responsible for the placement of a multitude of real estate debt for our clients. Since 2007, Stirling has closed nearly $3 billion of interim and permanent financings with every type of lender that operates in the Gulf South. Additionally, Justin has played a vital role in Stirling’s move into multi-family real estate.
“After graduating from LSU, Justin joined Stirling and has truly learned debt and equity markets and the Commercial Real Estate industry from the ground up. His growth as a professional and a leader has been an amazing journey. We are excited for the future of Stirling and Justin playing a significant role in our evolution”, commented Townsend Underhill.
As part of the Stirling ownership, Justin will expand his role within the Company’s Development, Finance, and Acquisition functions and help lead the company in expanding its existing business plan, growth, profitability, and strong business connections.
“Justin has proven to be an exceptional leader within Stirling and our industry. And most importantly, he embodies our core values and is a role model for others, “stated Marty Mayer.
Justin is an active member of ICSC (Innovating Commerce Serving Communities), where he has served on their Scholarship Committee and Next Generation Leadership Network. Most recently, he was chosen as Marketplace Council Director for the Southeast Region. In 2020, Mr. Landry was awarded the prestigious CRE® credential by The Counselors of Real Estate®.
Stirling Properties Names Justin Landry Vice President Of Finance
Stirling Properties commercial real estate company is pleased to announce that Justin Landry has been promoted to Vice President of Finance. Landry is a leader in the company’s Baton Rouge office located at 8550 United Plaza Boulevard, Suite 300.
Landry joined Stirling Properties in 2007 and is responsible for evaluating the economic feasibility of new development opportunities for the company. He serves as the lead on all development proforma and financial modeling. In addition, he is lead on debt placement for new developments and refinancing in preparing and soliciting permanent loan packages, and negotiating those loans with lenders. Landry is also asset manager in charge of the company’s entire multi-family portfolio throughout Louisiana.
“Justin is an integral part of our Stirling Properties team, and this promotion is well-deserved,” said Townsend Underhill, Senior Vice President of Development for Stirling Properties. “He has assisted in the placement of more than $1 billion of interim and permanent financing, and has significantly aided with the recent development of Ambassador Town Center. He’s played a key role in major acquisitions such as Turtle Creek Crossing, Retreat at Acadian Point, and Ansley Place, just to name a few. He is certainly worthy of this recognition, and we are proud of his success.”
Landry holds a Bachelor of Science degree in Finance from Louisiana State University. He is an active member of ICSC (International Council of Shopping Centers). He currently sits on the ICSC Scholarship Committee, and is former Committee Chair for ICSC’s Next Generation – Louisiana Chapter. In addition, he serves as an instructor at Louisiana State University teaching Finance 7720 (Commercial Real Estate Investing). Justin Landry can be reached at (225) 922-4340 or
Justin Landry can be reached at (225) 922-4340 or jclandry@stirlingprop.com.
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!
Jimmy Maurin and Roger Ogden, Founders of Stirling Properties, Give Back to LSU
Five Louisiana State Univeristy (LSU) business students – David Harms, Raju Marasani, Sawyer Chauvin, Saban Sellers, and James Guinn – received the 2015 ICSC Foundation Maurin Ogden LSU Scholarship Award. Funded by Jimmy Maurin and Roger Ogden, founders of Stirling Properties, this annual scholarship is awarded to a select handful of EJ Ourso College of Business students with an interest in Commercial Real Estate. The award provides an all-expense-paid attendance to the ICSC RECon Convention in Las Vegas.
David Harms, one of the award recipients, delivered the opening remarks as part of the ICSC Foundation Gala held on May 17th at the Wynn Hotel & Casino in Las Vegas.
More specifically, this scholarship is awarded to students enrolled in Finance 7720, Commercial Real Estate Investing, at LSU. This course is offered in both Spring and Fall semesters at LSU and taught by adjunct instructor Justin Landry of Stirling Properties. Each year Stirling Properties chaperones the five LSU Award Recipients to the convention, offering the students valuable exposure to industry leaders and potential employers at the convention.
“We’ve had tremendous success over the past two years with this scholarship award, in fact a handful of students have received jobs as a result of attending the convention,” said Justin Landry, Asset/Finance Manager for Stirling Properties. “None of this would be possible without the generosity of Stirling’s original founders, Jimmy Maurin and Roger Ogden who fund the scholarship yearly. There are no two people more committed to LSU, real estate and education.”
For more information about Finance 7720 – “Commercial Real Estate Investing” and its objectives contact Justin Landry at jclandry@stirlingprop.com or LSU Department of Finance at finance@tigers.lsu.edu.
LSU Students attend ICSC RECon on Scholarship
Pictured (L-R): Justin Landry, Braden Eddy, John Woodard, Jimmy Maurin, Jeremy Lapeyrouse, Brian Brumfield, Kaylan Kuehler and Garrett Mickal
Jimmy Maurin and Roger Ogden, founders of Stirling Properties, have both always believed strongly in mentoring students interested in pursuing careers in real estate. This year, Jimmy and Roger started the 2014 Maurin Ogden LSU Real Estate Award, putting funds in a foundation with the International Council of Shopping Centers (ICSC) that will be used exclusively to better the real estate program at Louisiana State University (LSU).
Six LSU students – Braden Eddy, John Woodard, Jeremy Lapeyrouse, Brian Brumfield, Kaylan Kuehler and Garrett Mickal – were selected as the award’s inaugural recipients. The award covered their airfare, hotel and convention costs to attend the 2014 ICSC RECon in Las Vegas. At the convention, the students had numerous meetings with industry leaders, participated in business meetings at Stirling Properties’ booth, and networked with potential employers.
Justin Landry, Stirling’s Asset/Finance Manager, chaperoned the students on the trip. Justin teaches Finance 3900 (Commercial Real Estate Valuation) at LSU and all six of the students have taken his course.
Stirling Properties was happy to host the students in our booth and we wish them the best in their future endeavors.
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.
