Carter Multifamily Acquires 392-Unit The Reserve at Byram Residence Group for $46.four Million in Suburb of Jackson, Mississippi

Carter Multifamily Acquires 392-Unit The Reserve at Byram Apartment Community for $46.4 Million in Suburb of Jackson, Mississippi

JACKSON, MS – Carter apartment building announced the acquisition of 392 units The Reserve of Byram for approximately $ 46.4 million.

Built in two phases in 2000 and 2006, The Reserve of Byram Apartment community is well located in Byram, Mississippi on 33.24 acres of land near the area's best shopping, dining, entertainment and recreation. The community has spacious one, two, and three bedroom floor plan options with modern amenities.

In addition to its well-designed apartment buildings, The Reserve at Byram Features a gated entrance, resort-style pool and spa with sundeck, outdoor BBQ areas, billiards room, fitness center, clubhouse and on-site car wash. The residents also enjoy the reserve in Byram & # 39; s In close proximity to the best employers in the region and easy access to the city center Jackson, Mississippi via Interstate 55.

"The high quality features and location of this property, as well as our strategy to improve management, allow us to provide the residents of this growing area with a desirable community at an attractive price," he said Ray Hutchinson, Chief Investment Officer of Carter Multifamily. "We are delighted with the strong rental performance of this market, which has performed well during the pandemic, and the upgrades that we have planned to improve the experience of The Reserve of residents Byram. "

Carter Multifamily intends to implement a substantial value strategy by enhancing the equipment package, performing interior and exterior upgrades, and implementing institutional property management best practices.

Source: Carter apartment building


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