SAVANNAH, GA. — Newmark has arranged the sale of a portfolio consisting of three properties built between 1987 and 1990 in the greater Savannah area. The buyer, which assumed a fixed-rate Freddie Mac loan in the transaction, was an unnamed large private fund with several holdings in and around Savannah. The seller, represented by Newmark’s Brooks Colquitt, was Dallas-based RREAF Holdings. The sales price was not disclosed. The properties include the 144-unit Azure Cove in Garden City, Kessler Point, a 120-unit property also in Garden City, and The Arbors, a 108-unit asset in Savannah. Community amenities at the three properties include fitness centers, landscaped courtyards, grilling and picnic areas, pools, laundry facilities, playgrounds and pet parks.
Azure Cove in Garden City, Georgia, about 5 miles west of Savannah, was one of three assets in a portfolio RREAF Holdings has sold an undisclosed private fund buyer.
Newmark Brokers Sale of Value-Add Portfolio in Savannah, Georgia
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