Author Archives: ipgocorp

How Long Does It Take Buyers With Student Loans to Afford a Home?

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(RECAP: Graduates of four-year colleges who took out student loans are estimated to spend more than a decade saving up for a 20% down payment on their very own home, according to a recent report. That’s nearly double the 5.3 years it is expected to take those lucky grads who didn’t have to take out loans to fund their education, according to an Apartment List report. The report factors in the financial help buyers will receive from friends and family to pay for a $200,000 home. But it did not take into account the various no- or low-down-payment options available for U.S. military personnel (current and retired) and first-time and other eligible buyers. (First-time buyers often score 3.5% down mortgages through the FHA.)

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Affordable Senior Housing Scarce as Boomers Age: Report

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(RECAP: With the elderly population rapidly expanding as baby boomers enter retirement age, a task force from the Bipartisan Policy Center is calling on the federal government to spur renewed investment in affordable housing for seniors. Among the task force’s recommendations is to expand the Low-Income Housing Tax Credit program significantly to finance the production and preservation of affordable rental units. The group also suggested a new program be made using LIHTCs and project-based rental help to support further construction and attract funding from health care programs for services. And it recommended adequate funding for the Section 202 program, which provides rental help to elderly individuals.)

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BSR Trust Completes Acquisition of 360-Unit West End Lodge Apartment Community in Beaumont, Texas

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BEAUMONT, TX – BSR Trust announced that it has completed an acquisition of the West End Lodge apartment homes in Beaumont, Texas. The buy of West End Lodge marks the second acquisition BSR Trust has made in the Beaumont market in under a year. BSR Trust bought 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 Small Rock based company throughout Texas, Louisiana, Oklahoma, Arkansas and Mississippi. The terms of the deal were not told.

“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 fantastic place to grow. The buy 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 Small Rock, Arkansas. Headquartered in the historic Union Station in downtown Small 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 making value for our shareholders through strength, profitability and growth.

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