RIDGELAND, MS – Balfour Beatty Communities, a national residential real estate investment and management company responsible for the ownership and operation of more than $6 billion in multifamily assets, has expanded its multifamily portfolio with the acquisition of a new property in Ridgeland, MS. The acquisition of Lexington Apartments—a 220-unit community—was completed as part of a joint venture with longtime partner, ApexOne Investment Partners.

The gated community built in 2000—which is being rebranded as Ridgeland Place—is ideally located in the upscale Northeast section of Jackson, MS and within close proximity of several major employers including Select Specialty Hospital, Nissan North America and Comcast.

Apartment homes are available in one, two, and three-bedroom models and feature a number of amenities including private outdoor areas, fully-equipped kitchens and ample storage space. In addition, Ridgeland Place showcases several community amenities including a sparkling pool with sundeck, fitness center, and playground.

“Ridgeland appealed to us given its premier location within an award-winning school district, flourishing retail and entertainment offerings and accessibility to major highways,” said Michael Price, vice president of residential transactions for Balfour Beatty Communities. “We look forward to adding value to the community through modern renovations and raising the bar for an exceptional living experience with our management expertise.”

Balfour Beatty Communities will self-perform property management services and invest in a series of capital improvements at the property, including upgrades to unit interiors, the community amenity package and overall curb appeal.

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PORTLAND, OR – Strategic Student & Senior Housing Trust, Inc. (SSSHT), a public, non-traded real estate investment trust sponsored by SmartStop Asset Management, LLC (SmartStop), announced its acquisition of Courtyard at Mt. Tabor, a continuum of care senior housing community offering 286 units of independent living, helped living and memory care in Portland, Oregon. SSSHT bought the facility for $92 million. 

Located at 6125 and 6323 SE Division St., Courtyard at Mt. Tabor is currently 94 percent occupied and 100 percent private pay. An expansion project that will add an additional 23-unit memory care building to the facility is scheduled to break ground in the fall of 2018. 

“As an established, award-winning retirement community, Courtyard at Mt. Tabor aligns perfectly with our strategy to buy stabilized properties that also offer an opportunity to enhance value through operational or structural improvements,” said John Strockis, chief investment officer. “The property also benefits from its ideal location in Portland, a welcoming city with premier senior housing fundamentals and high cultural acceptance of senior living communities. This property is Strategic Student & Senior Housing Trust’s fourth senior housing acquisition and a welcome addition to our diversified and growing real estate portfolio.”

Courtyard at Mt. Tabor is a full-service retirement community that offers extensive dining service options, wellness care and activities, transportation, personal care and support services, housekeeping, and a 24-hour front desk staff. The property received the Caring Stars award in 2015 and 2016, a program that honors the best senior living communities in the United States based on consumer reviews. 

Situated on 7.1 acres of land in the Mt. Tabor submarket of Portland, the community was constructed between 1999, 2000 and 2009. 

Integral Senior Living, a premier senior living operator that manages independent, helped living and memory care properties throughout 18 states, has managed the property since 2011 and will continue to manage the property on a day-to-day basis on behalf of the REIT.

“We look forward to being partners with Strategic Student & Senior Housing Trust at Courtyard at Mt. Tabor,” said Collette Valentine-Gray, Integral Senior Living’s CEO and COO. “SSSHT is a top-notch company that intends to continue to invest in senior-living communities, with an eye to enhancing amenities and services. They share our vision and mission of making our communities vibrant, healthy and welcoming environments for residents and their families.

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HOUSTON, TX – American Landmark, one of the fastest-growing multifamily owner-operators in the country, has bought Haven at Liberty Hills, a 246-unit Class ‘A’ multifamily asset in Houston. The asset will undergo approximately $890,000 in property improvements.

American Landmark, and its debt and equity partner Electra America, are selectively and decisively acquiring value-add properties in brilliant locations across the Southeast and Southwest. The firm, which has already bought 17 properties this year worth over $800 million, expects to complete $1.5 billion in multifamily acquisitions in 2018. This is their eighth acquisition in Houston and 18th in Texas.

The firm plans to implement its standard enhancements to common areas with modern amenities including a dog park, summer kitchen, and fire pits alongside the pool area.

“Houston remains an attractive market for investment thanks to accelerated hiring that underpins strong demand outpacing new deliveries,” said Christine DeFilippis, Chief Investment Officer of American Landmark. “The addition of a Class ‘A’ asset to our portfolio offers an opportunity to give residents an improved living experience with amenities that meet their needs.”

Built in 2018, Haven at Liberty Hills is located at 14580 Crosby Freeway. One- and two-bedroom units include black appliances with in-door water, faux wood blinds, generous closet and storage space, washer/dryer, granite countertops, brushed nickel designer hardware, and bright open floor plans. The pet-friendly community also includes a club-quality lifestyle center, swimming pool with sundeck and Wi-Fi, outdoor kitchen, and resident game lounge.

Situated five minutes away from Crosby Freeway, Haven at Liberty Hills is situated less than 20 minutes away from Downtown Houston, offering ease of access to major employment hubs including University of Houston-Downtown and Minute Maid Park. The community is also surrounded by recreational areas, including Brock Park Golf Course, Banana Bend Nature Preserve, Gene Green Beltway 8 Park, and River Terrace Golf Course.

American Landmark is a national multifamily owner-operator specializing in multifamily acquisition, repositioning and property management.  It owns and operates properties in Georgia, Florida, North Carolina, South Carolina and Texas. 

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