May 20, 2024

Housing Mba

Unlock your housing expertise with the Housing MBA

Stoneweg US Acquires 244-Unit Savannah-Area Asset

1 min read

Carter Multifamily sold this property after three years.

Stoneweg UShas purchased The Station at Savannah Quarters in Pooler. The Station is a multifamily complex with 244 units. Yardi Matrix shows that the asset was previously traded for $43.4M in 2020 when Carter Multifamily acquired it.

The property was built by Tynes Developmentin Savannah Quarters, a master-planned development. It became operational in 2019. The property was built by Tynes Development in the master-planned community Savannah Quarters. It came online in 2019.

Select layouts include walk-in wardrobes and 9-foot-high ceilings. They also feature in-unit washers/dryers and private balconies or terraces. Fitness center, saltwater pool with a hammock garden, clubhouse and cyber cafe are among the amenities available in the common areas.

Stoneweg will make extensive improvements, including installing solar panels and EV chargers. They also plan to upgrade the interior with new washers and tumble dryers as well as vinyl-plank floors. In prepared remarks, Director of Acquisitions Ryan Smyth stated that the purchase is in line with the firm’s commitment to long term value through ESG optimization.

The 10.7-acre site is located at 100 Harley Lane. It’s off Interstate 16 about 13 miles west from downtown Savannah and 8 miles away from the Savannah/Hilton Head International Airport. About 14 miles from the site, which is being built, is a Hyundai EV/battery plant that will be operational in 2025, creating 8,100 new jobs.

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright © All rights reserved. | Newsphere by AF themes.