By Eliza Theiss, Associate Editor of MHN Online
Covington-based Stirling Properties LLC has completed upgrades and maintenance work at Tiger Manor, the 287-unit multifamily development at 3000 July Street, just across the northern gate of the Louisiana State University (LSU) campus. According to Stirling Properties, the $1.4 million renovation included creating a new management office and a new primary road entrance off E. State Street, installing card access security systems, completely repainting the exteriors of all buildings, pool improvements as well and landscaping and irrigation. Furthermore, Stirling reported strong summer lease-up numbers with an average increase of five percent in new leases signed.
As previously reported by MHN City Pages, Tiger Manor, formerly known as Tiger Manor Condominiums, was purchased by Stirling Properties in September 2012, for $23.5 million. The property features luxury amenities such as fitness center, outdoor fire pit, resort-style swimming pools complete with lounge areas, resident game room, and landscaped courtyard. Tiger Manor, not a student housing project in its inception, but serving as one now, features amenities and services directed at the student population, such as a dedicated study room with complimentary WiFi and complimentary weekday breakfasts during the semester.
The property is co-managed by BH Management Services, LLC. Tiger Manor is part of Stirling Communities, Stirling Properties’ 657-unit multifamily portfolio. The portfolio comprises apartment units that are mainly student housing for LSU and University of Louisiana at Lafayette. It was started in 2011, when Stirling picked up 370 units in Baton Rouge and Louisiana and continued to expand in 2012, with Tiger Manor’s acquisition. The Stirling Community strategy focuses on value-add acquisitions and the repositioning of underperforming and under-managed properties.