RISE Expands Student Housing Portfolio with Baton Rouge Purchase
August 12, 2016
RISE Expands Student Housing Portfolio with Strategic Baton Rouge, LA Purchase
Valdosta, Ga. – August 11, 2016 – RISE: A Real Estate Company recently closed on the purchase of Oakbrook Apartments, a 240-unit, 462-bed student housing community in Baton Rouge, Louisiana.
According to Courtney Gordon, RISE’s Senior Vice President of Management, “The purchase of Oakbrook Apartments is an excellent addition to our portfolio during this aggressive acquisition season. The metrics of the property and its location to area universities fits within our business model, while the unit mix gives Oakbrook Apartments a unique advantage over existing inventory.” Regarding RISE’s plans to complete extensive renovations to the exterior and interior of the property, Gordon adds, “The renovation of Oakbrook will reposition the property in the market while offering a very attractive return for our investors.”
This acquisition speaks to RISE’s plans of strategic growth in both on and off campus student housing, with Gordon noting, “We will continue to pursue deals that fit within our business model and offer strong advantages to our portfolio.”
In line with the company’s long-term business plan, the acquisition of Ambling Student Housing and purchases like Oakbrook Apartments, RISE showcases an emphasis on continuing to provide exceptional service to Partners, Clients and Residents.
Karissa Schminky, VP of Marketing
129 N. Patterson Street
Valdosta, GA 31601