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The Registry again under new owners, management

By AMEERAH CETAWAYO, The Daily News, acetawayo@bgdailynews.com
Saturday, February 9, 2008 11:36 PM CST

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The Registry Apartments, a residential facility on Old Morgantown Road geared toward college students, has changed management and ownership again.

Now owned by Altamonte Springs, Fla.-based Katsur Management Group and managed by Asset Campus Housing, The Registry’s 20,000 square feet of commercial space still has no tenant after two years of operations.

Tim McCoskey of Florida-based developer Brossier Co. said in 2005 that the commercial space for The Registry would be filled with student-related services to complement the development’s adjacent apartments.

Bridlewood Realty, which managed the apartments from March to August, hired Realtor NAI Nashville to recruit tenants, but to no avail. Before Bridlewood Realty, Austin, Texas-based Campus Advantage was managing the apartments and had its own Realtors looking for commercial tenants.

Later, Campus Advantage employed the services of local commercial Realtor John Atkerson of Neal Turner Realty.

Katsur Management Group took ownership of the 558-bed, 145-unit student housing complex in August, according to general manager Melissa Brant.

“There’s been a lot of changes,” Brant said. “I think the students are excited to see things happening like they’re supposed to be. They’re glad to see some stability around here.”

The change in ownership comes as The Registry recently received a $17 million mortgage loan with a 2-year term and three one-year extension options from Boston-based specialty finance company NewStar Financial.

According to NewStar Financial spokeswoman Anne Bork, the loan will help The Registry pay off its original construction loan and refinances to a lower rate, a move that will hopefully stabilize the development - allowing it to finish housing improvements and try to fill its retail space marketed to students.


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