Source: BSR Trust / #Apartments #Multifamily
BEAUMONT, TX - BSR Trust announced that it has completed an acquisition of the West End Lodge apartment homes in Beaumont, Texas. The purchase of West End Lodge marks the second acquisition BSR Trust has made in the Beaumont market in under a year. BSR Trust purchased The Pointe Apartments in July of 2015.
West End Lodge was built in 2007 and contains 360 residences in an even mix of one bedroom and two bedroom floorplans. It has received an ApartmentRatings.com "Top Rated Award" three of the last four years. The upscale garden-style community adds to the growing list of over 40 multifamily housing properties owned and managed by the Little Rock based company throughout Texas, Louisiana, Oklahoma, Arkansas and Mississippi. The terms of the deal were not disclosed.
"West End Lodge is the premier apartment community in Beaumont, and we are proud to expand our operations there." said Daniel Oberste, Chief Investment Officer of BSR Trust. "Our experience in Beaumont makes us confident this is a great place to grow. The purchase of West End Lodge is also an indicator of the strategic direction BSR has taken to grow our market-rate based portfolio. West End is a first class property in terms of appearance, construction, location, and amenities. This acquisition reflects our continued effort to provide an exceptional living experience for our residents at a community they are proud to call home."
The new acquisition puts BSR Trust managing roughly 9,000 units across its portfolio.
BSR Trust traces its roots back to 1956 with the formation of Bailey Corporation in Little Rock, Arkansas. Headquartered in the historic Union Station in downtown Little Rock, the resulting company owns and manages 45 properties in five states. BSR Trust employs over 250 team members across its operations. The primary mission of BSR is to provide an exceptional living experience for residents at a community they are proud to call home while creating value for our shareholders through strength, profitability and growth.