LITTLE ROCK, Ark., March 7, 2017 /PRNewswire/ -- BSR Trust, LLC
announced today that it has completed the acquisition of Mountain
Ranch Apartments in Fayetteville,
AR. The purchase of Mountain Ranch marks BSR's official
entry into the Northwest Arkansas
market. However, BSR already owns and manages 10 other properties
within in the state of Arkansas.
Mountain Ranch was built in 2009 and contains 360 units in a mix
of one bedroom, two bedroom and three bedroom floorplans. The
upscale garden-style community sits on 15 acres, just across
Interstate 49 from the University of
Arkansas campus. Mountain Ranch adds to the growing list of
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.
"Mountain Ranch is an outstanding community that we are thrilled
to add to the BSR portfolio," said Daniel
Oberste, Chief Investment Officer of BSR Trust. "BSR has
focused our acquisition growth outside the state of Arkansas in recent years. However, the
economic growth story in Northwest
Arkansas is impossible to ignore. Further, BSR's corporate
offices along with a large chunk of our operating personnel are
based in Arkansas. As a result, it
makes good business sense for BSR to expand our Arkansas presence at this time. This
transaction, together with the other acquisitions and investments
made in the past year, are indicators of the growth our company is
experiencing and our strategy moving forward."
The new acquisition puts BSR Trust, LLC owning and managing just
over 9,200 units across its portfolio. More information on Mountain
Ranch can be found at www.mountainnranchapthome.com.
About BSR Trust, LLC
BSR Trust, LLC is a leading owner
and operator of garden-style, multifamily communities in the US.
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. BSR 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, BSR owns and manages 46 properties comprised of
approximately 9,200 units in five states. There are currently over
250 team members employed across BSR's operations. The company's
web address is www.bsrtrust.com.
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SOURCE BSR Trust