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