Transwestern Marketing Value-Add Opportunity in Top Student Housing Market
November 15, 2022
BATON ROUGE, LA – Transwestern Real Estate Services (TRS) announces that Senior Managing Directors Mike McGaughy and Jon Kleinberg from its National Student Housing team are marketing the sale of The Sterling, a 340-bed student housing property at 3135 Highland Road in Baton Rouge, Louisiana.
“A successful rebranding campaign, capital improvements program and aggressive lease-up strategy enabled The Sterling to reach 95% occupancy for the current school year. The asset offers a compelling value-add opportunity for investors to capitalize on this momentum and maximize revenue through multiple initiatives, including continued property enhancements and increasing rents to market rates,” said McGaughy.
The Sterling is a 6-story, 98-unit purpose-built student housing property with 340 beds serving Louisiana State University (LSU) and Southern University. The property’s location adjacent to LSU’s campus affords residents easy walkability to classrooms, athletic venues and the student union. Built in 2006, The Sterling features spacious units with an average size of 1,362 square feet, a gated 347-space parking deck and an amenity package appealing to today’s student renter.
“Baton Rouge’s student housing market is a top performer generating a broad pool of student renters and high demand for housing options,” said Kleinberg. “An uptick in enrollment and limited supply combined with its dynamic location and discount to replacement cost positions The Sterling to provide significant upside.”
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. Through an integrated, customized approach that begins with good ideas, the firm drives value for clients across commercial real estate services, development, investment management and opportunistic endeavors for high-net-worth investors. Operating from 33 U.S. offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.