SAVANNAH, GA. — A joint venture between Peach Hill Capital and RK2 Property Group has acquired Georgetown Crossing, a 168-unit community in the Georgetown neighborhood of Savannah. The asset traded hands in an off-market transaction for $25.6 million. Mark Boyce and Blake Coffey of Berkadia represented the undisclosed seller in the deal.
Georgetown Crossing was built in 1994. Located at 1015 King George Boulevard, the property comprises seven three-story residential buildings surrounding a clubhouse and a pool. Units come in one- and two-bedroom layouts. Other amenities include a series of walking paths with picnic areas, barbecues and a dog park.
The new ownership plans to upgrade unit interiors with new flooring, quartz countertops, tile backsplashes, cabinet fronts, stainless-steel appliances and plumbing/light fixtures. The joint venture will also improve landscaping and the pool area, as well as install a children’s playground. The community will be rebranded as Georgetown Oaks.