LITTLE ROCK, AR - The expansive Overbrook Apartment Community that has been a fixture of the North Little Rock Arkansas resident community is about to look a lot different. Little Rock based BSR Trust, LLC is investing nearly four million dollars renovating the property, which consists of 440 apartment homes in the heart of North Little Rock on JFK Boulevard. Construction began in late June and will continue through September 2016.
“BSR Trust may have grown far beyond the state’s borders in recent years, but our roots are here in central Arkansas, and Overbrook Apartments is one of the original flagship properties of our portfolio.” said Daniel Oberste, Chief Investment Officer of BSR Trust. “We saw an opportunity at Overbrook to layer community reinvestment on top of our existing growth strategy and enhance one of our core properties. The result will be a modernized community, at a competitive price point, in the heart of North Little Rock offering amenities typically found at newer builds on the periphery of a city.”
Overbrook Apartments has a broad mix of one, two, and three-bedroom apartment homes. Some apartments are even multi story and have amenities like private porches, and garages. Between leases in 2016 these residences are receiving new appliances, countertops, fixtures, lighting, flooring, paint, porch railings and other improvements. But these renovations are not limited to the apartments alone. Common area additions include the following amenities: Dog Park, playground, pavilion, outdoor grilling area, sports court, private access gate and building exterior improvements. BSR has also decided to use three acres of undeveloped land adjacent to the property to add a nature trail for residents.
“This investment is a response to what customers in the multifamily industry demand,” Oberste continued. “However, Overbrook is not new construction on land we remember that was once the edge of our city. This is reinvestment in an already great property centrally located in heart of our community. This investment allows us to meet our business objectives and improve the North Little Rock community at the same time.”
For more information on Overbrook Apartments visit www.overbrookapthome.com.
BSR Trust, LLC 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 almost 9,000 apartment homes across 45 properties in five states. BSR Trust, LLC 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.
Source: BSR Trust / #Apartments #Multifamily