Stirling Properties Picks Up Condo Community for $23.5M
By Eliza Theiss, Associate Editor
A group of investors led by Stirling Properties has purchased the Tiger Manor Condominiums apartment community for $23.5 million, or $86,715 per unit, cash. According to the Greater Baton Rouge Business Report, the Convington-based real estate firm will also act as asset manager to the property with BH Management of Des Moines, Iowa providing on-site primary property management services.
Tiger Manor Condominiums is a 8.23-acre luxury apartment community situated at 3000 July Street, across the north gates of Louisiana State University. According to the buyer’s website, the community features 271 units in 15 three-story buildings as well as 15 units in one- and two-story structures for a total building surface of 229,683 square feet. There are one-, two- and three-bedroom units, as well as studio apartments and cottages. The low-rise, garden-style community features luxury amenities such as two outdoor pools with lounge areas, a fitness center complete with treadmills and cardio machines outfitted with cable TV, fitness machines and weights, a club house complete with fireplace, a game room with air hockey, a study room with complimentary Wi-Fi, a business center, tailgating room, breakfast bar with complimentary breakfast during semester weekdays and New Orleans style courtyards. On-site maintenance and an on-site courtesy officer complete the experience.
Following a massive renovation in 2008-2009 the 1970-built community now features wireless intrusion alarms, over 60 security cameras, electric gates as well as new roofing, lighting, siding, pavements, HVAC, windows, doors, fencing, paint as well as updated landscaping.
Tiger Manor’s interiors were also redone with new insulation and sheetrock. Units were refitted with stainless steel appliances, new fixtures and finshes, washer-dryer units, cherry cabinets, ceiling fans in every room, slab granite countertops, ceramic, tile, wood-laminate flooring crown moldings and berber carpets.
Tiger Manor features on-site surface parking for 409.
Photo credit: Tiger Manor Condominiums’ Facebook profile