Lafayette

Eye on the Market Highlights – April 2012

Stirling Properties’ Eye on the Market research alert is emailed monthly to our mailing list and features all the latest news and market reports about the Gulf South.  We scan local and regional news outlets, as well as economic development groups, university research centers, and more, so that we can compile all the relevant rankings, news, economic development announcements, reports and more in one convenient place.  Some highlights from our April 2012 Eye on the Market include:

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Eye on the Market Highlights – February 2012

Stirling Properties’ Eye on the Market research alert is emailed monthly to our mailing list and features all the latest news and market reports about the Gulf South.  We scan local and regional news outlets, as well as economic development groups, university research centers, and more, so that we can compile all the relevant rankings, news, economic development announcements, reports and more in one convenient place.  Some highlights from our February 2012 Eye on The Market include:

  • Shreveport listed among 5 Markets Beating the Housing Bust
    SmartMoney
  • Baton Rouge ranked 7th for Job Growth through 2020
    Business Report
  •  Lafayette’s Median Income Growth Leads Nation’s Metros
    The Independent
  • GE Capital announces creation of technology center in New Orleans
    Louisiana Economic Development
  • Army plans expansion at Fort Polk in Central Louisiana
    The Advocate
  • La. restaurants expected to lead 2012 industry growth
    Business Report
  • Chain restaurants, retailers increasingly locating on north shore
    Nola.com

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Eye on the Market Highlights – January 2012

Stirling Properties’ Eye on the Market research alert is emailed monthly to our mailing list and features all the latest news and market reports about the Gulf South.  We scan local and regional news outlets, as well as economic development groups, university research centers, and more, so that we can compile all the relevant rankings, news, economic development announcements, reports and more in one convenient place.  Some highlights from our January 2012 Eye on The Market include:

  • Louisiana 4th Most “Competitive” State in Job Growth – New Geography
  • Louisiana Ranked Top State for Film Production P3 Update
  • VIDEO:  Louisiana Schools Make the Grade – NBC Nightly News
  • B.R. #7 on Forbes’ List of Where Jobs Will Be in 2012 – Business Report
  • MS Gulf Coast Business Leaders Optimistic about 2012 – SunHerald
  • Lafayette Regional’s Passenger Count Sets Record – The Independent
  • 2011 Year in Review – Greater New Orleans, Inc.

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Initial Months of Ownership Very Active After Stirling’s First Multi-Family Acquisitions

As expected, it’s been a very active few months of ownership since Stirling Properties successfully completed its first multi-family acquisitions in August.  A total of 370 units were acquired in 4 apartment communities – Coventry Terrace in Baton Rouge, and Willow Gardens, South College Gardens and Acadian Gardens in Lafayette.  Stirling Properties is the Asset Manager for the properties and BH Management Services, Inc. was hired as the primary property management firm because they specialize in apartment communities of this type, and to date they have exceeded our expectations.

The first month of ownership primarily consisted of training the property staff, taking inventory of units, lease audits, accounting setup, and property stabilization under the new management team.  In addition, each management office was overhauled in order to bring them to BH standards for professionalism, quality, and function.  The problem tenants and immediate maintenance concerns were also identified and addressed.

Upgrading these properties was the next step.  At each property a model unit was identified and converted into a furnished leasing model.  Also, BH further defined the scope of improvements for each property based on needs that they assessed after being on site.  The primary areas that have been addressed include common areas, sidewalks, railings, exterior painting, soffits, signage, landscaping, porches and balconies, and general appearance.  Amenities have become increasingly important for leasing of apartment properties, and as a result of BH’s recommendation, a state-of-the-art Wi-Fi system has been installed at each property for resident use on-site.

BH has a very proactive approach to marketing.  Outreach marketing for the properties includes postings to Craigslist, Facebook, online advertising for off campus housing, postcard flyers and outreach stickers, promotional products, and participation in the LSU Housing Fair.  A Preferred Employee Discount Program was also implemented.  A car magnet promotion was put in place at Coventry Terrace in an effort to drive additional traffic and to help prospective residents locate the property.  Residents receive a small monthly rental discount for agreeing to attach this car magnet to their vehicle.

Resident retention efforts are also underway.  Coventry Terrace will host resident events monthly and a Fall Social is planned at Willow Gardens for an early December Saints game, barbeque and Toys for Tots drive.  Monthly newsletters, resident referral flyers and early bird contests are also planned.

“Stirling Properties is very excited about this multi-family portfolio and we expect it to exceed our expectations once BH has had the opportunity to be on-site and fully implement its operational and marketing strategies,” stated Townsend Underhill, Vice President of Development at Stirling Properties.  Based upon the demographic and economic trends in the nation, Stirling has grown very bullish on the multi-family asset class and we look to expand our holdings in this type of asset.

For more information about Stirling Properties’ Acquisition Team and its objectives contact Jeff Marshall at (985) 246-3765 or jmarshall@stirlingprop.com.

Stirling Properties Welcomes Mike Immel To its Team

Mike ImmelLAFAYETTE, Louisiana —- (OCTOBER 27, 2011) Stirling Properties is pleased to announce the addition of Mike Immel to its team of Commercial Real Estate Brokers in the Stirling Properties’ Lafayette office at 1819 Pinhook Road., Suite. 200 as a sales and leasing agent.

Mr. Immel comes to Stirling Properties with 17 years of experience in the Industrial sector as an Automation Systems Engineer. His resume includes projects for Shell Oil & Gas, Chevron and a host of independent gas and oil companies.   (more…)

October 27, 2011|Agents, Commercial, Lafayette, news, Press Releases|

Stirling Properties Awarded Contract for Facilities Management of all First Bank and Trust Branch Locations

COVINGTON, Louisiana —- (October 25, 2011) Stirling Properties has been awarded a contract to provide comprehensive facilities management for all First Bank and Trust branch locations in Louisiana and Mississippi.  The contract, effective on November 1, 2011, also includes the First Bank and Trust headquarters at the First Bank and Trust Tower located on 909 Poydras Street in New Orleans.  Founded in 1991, First Bank and Trust is a New Orleans based bank with over $925 million in assets.  (more…)

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