FOR IMMEDIATE RELEASE

SIMM Capital Announces Acquisition and Rebranding of Crosby Park Apartments in Lawton, OK to Bison Ridge Apartments

[Pittsburgh, PA] – [9/27/24] – SIMM Capital is excited to announce the acquisition and successful closing of Crosby Park Apartments, a 216-unit Class B apartment complex located in Lawton, Oklahoma. As part of SIMM Capital’s comprehensive value-add strategy, the property will undergo a rebranding and will now be known as Bison Ridge Apartments, a name that reflects the new ownership and commitment to enhancing the property for current and future residents.

Bison Ridge Apartments is strategically located near local shopping, dining, and major employers, including Fort Sill. The community currently offers amenities such as a swimming pool, fitness center, and clubhouse, but SIMM Capital sees significant potential for further improvement. The firm has developed a robust business plan that focuses on value creation through strategic renovations and amenity upgrades.

“We are thrilled to bring Bison Ridge Apartments into our portfolio and execute our value-add business plan,” said Mathew Simmons, CEO of SIMM Capital. “Our goal is to enhance the living experience for residents by renovating the remaining units, adding new amenities such as dog parks, and improving overall property management. Through these efforts, we aim to stabilize the property at 90%+ occupancy and provide high-quality, affordable housing in the Lawton market.”

Key components of the value-add strategy include:

Renovation of Remaining Units: SIMM Capital will update the remaining apartment units with modern finishes, enhancing both comfort and appeal.
New Amenities: The addition of dog parks will create a pet-friendly environment, improving community engagement and attracting pet-owning residents.
Occupancy Stabilization: With targeted renovations and management improvements, SIMM Capital aims to stabilize occupancy at 90% or higher.
Rebranding: The property’s rebranding to Bison Ridge Apartments reflects the transition in ownership and underscores SIMM Capital’s commitment to stabilizing and revitalizing the complex.
This acquisition is part of SIMM Capital’s broader strategy to invest in Class B multifamily properties in emerging markets, where strategic renovations and operational improvements can unlock significant value.

About SIMM Capital SIMM Capital is a private real estate investment firm specializing in the acquisition, development, and management of multifamily properties across the United States. The company focuses on value-add opportunities, revitalizing communities, and delivering long-term value for investors and residents alike.

For more information, please contact:

Mathew Simmons
CEO
SIMM Capital
Phone: 412-314-2001
Email: mat@simmcapital.com
Website: www.simmcapital.com