The PennZone

PITTSBURGH - PennZone -- 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."

More on The PennZone

• Campaign for Kindness: Floris UMC is bringing back respect, humility, and compassion this election season
• Situ Ve Offers a New Perspective on Love Amid the Rising Passport Bro Movement
• Sporttrade Announces Strategic Investor To Enhance Sports Betting Markets
• Pro Sound League: The Next Big Movement in Music Launching in 2025 – Join Us!
• Workday Showcases Technology Leadership at Grace Hopper Celebration 2024 with 50 Delegates and Five Speakers

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.

More on The PennZone

• Scout & Cellar Becomes First Winery in Texas to Receive B Corp Certification
• Remark Test Grading Now Integrates with Moodle LMS
• CRH Healthcare Acquires Four Urgent Care Clinics in Georgia
• eCaregivers Launches First-Ever Consumer-Driven Senior Care Platform for Private-Pay Home Care Offering Affordable, Full-Service Agency Experience
• Surge Institute Welcomes 2025 Philadelphia Cohort

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: https://www.simmcapital.com