In 2021 we acquired a 120-unit Extended Stay hotel in Jackson, Mississippi. Our team, given our experience with conversion projects, was able to efficiently convert this hotel into newly-remodeled apartments.
The Pointe at East River Place apartments consists of 15 separate two-story buildings and another building that houses the clubhouse. In addition to the 120 units, the property features amenities including a fitness center, business center, guest laundry facility, outdoor swimming pool, and sports court. The existing units are well-sized and come equipped with a full kitchen, as well as separate living and sleeping areas, which makes the conversion mainly cosmetic in nature.
We plan to continue to hold the asset and professionally manage it in conjunction with the Estes-Manning management team.