Business
BSR REIT Building Second Phase of Wimbledon Green Property in Little Rock, Arkansas
BSR REIT Building Second Phase of Wimbledon Green Property in Little Rock, Arkansas ...
About this update from Bsr Real Estate Investment Trust
[{"type":"text","content":"\n\n\n\nBSR REIT Building Second Phase of Wimbledon Green Property in Little Rock, Arkansas\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nLITTLE ROCK, AR and TORONTO, May 9, 2019\n\n\n\nLITTLE ROCK, AR and TORONTO, May 9, 2019 /CNW/ - BSR Real Estate Investment Trust (\"BSR\" or the \"REIT\") (TSX: HOM.U) announced today that a second phase of its Wimbledon Green property (\"Wimbledon Green\" or the \"Property\") is under construction. The Property is located in Little Rock, Arkansas which is also where BSR is headquartered. Wimbledon Green currently consists of 96 garden style apartment homes constructed in 2005. The new development will more than double Wimbledon Green's current size to 252 apartment units. This second phase is under construction on land the REIT already owns. \n\"BSR always seeks to maximize asset value and adding a second phase to the Wimbledon Green community is an ideal growth opportunity,\" said the REIT's CEO John Bailey. \"Wimbledon Green consistently maintains the highest occupancy of our nine properties in the Little Rock metropolitan statistical area. This demand coupled with the ownership of the adjacent land provides an excellent opportunity to continue to build unitholder value.\"\nFor the past two years, Wimbledon Green has made the \"Elite 1% List\" published by the independent research company J Turner Research. This annual distinction is awarded to the top ranked properties based on their Online Reputation Assessment (ORA™) score. The ORA score is given monthly by J Turner to over 101,000 communities in the US as a measurement of online customer review satisfaction. Wimbledon Green's ORA™ score is in the top five of the state of Arkansas. \nPhase II of Wimbledon Green will consist of a mix of 156 new one bedroom and two bedroom apartment units. The new construction will have three floors and some apartment units will feature attached garages with direct access. With the addition of the second phase of Wimbledon Green, BSR will own and operate 48 multifamily properties, comprising of 10,206 apartment u...