Starboard Realty Advisors Acquires Garden-Style Apartment Community in Gonzales, Louisiana
IRVINE, Calif., July 15, 2022 -- Starboard Realty Advisors acquired Silver Oaks, a garden-style apartment community, on May 20th, 2022. This highly-amenitized, Class A property is located in Gonzales, Louisiana, just south of Baton Rouge. Albert Elmore of Colliers International represented the Seller.
The 336-unit, low-rise community is comprised of one-, two-, and three-bedroom units and includes modern features such as stainless-steel appliances, granite countertops/island, plank flooring, patios/balconies, in-unit washer & dryer, and air conditioning. The high-end community amenities include a resort-style swimming pool, grill area, fire pit with seating, 24-hour fitness center, lake with fountains, clubhouse, playground, gated entrance, dog park, covered parking, and common area WIFI.
Silver Oaks was completed in 2019 and was 98.21% leased at the time of purchase. Planned capital improvements at the property include: a tech package, two additional dog parks, and installing security cameras in addition to electronic locks in the office to facilitate renting the clubhouse after hours.
"The previous moratorium on new development in Ascension Parish has constrained the supply of new apartments in the area which will facilitate stronger property performance and rent growth," added Stephen Carlton, Partner & Chief Operating Officer of Starboard Realty Advisors.
About Starboard Realty Advisors, LLC
Starboard Realty Advisors, LLC, headquartered in Irvine, California, acquires, manages, and operates multi-family, multi-tenant retail shopping centers and QSRs. Starboard is a privately held, fully integrated real estate firm, whose principals have more than 30 years of hands-on, cycle-tested experience in acquiring, developing, leasing, repositioning, managing, financing, and disposing of retail, multifamily, office and industrial real estate during which they have developed a network of relationships with brokers, sellers, retailers, and an array of other tenants.