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DXE Properties and Team Add Savannah Apartments to GA Portfolio
DXE Properties, Acuity Partners and JSR Development have acquired Jasmine Place Apartments in Savannah, GA, marking the group’s second Georgia acquisition in the past 12 months. The company, in conjunction with Acuity Partners and JSR Development, has invested almost $5 million in equity into the deal.
“The market for well-located multifamily property in the Southeast is extremely competitive right now. We were able to secure this property off-market through strong local relationships,” said DXE’s Donato Settani. “Savannah is a market that continues to grow in many directions, including their major port operation, manufacturing and tourism.”
Jasmine Place Apartments is a 112-unit value-add property built in 1979 and located just north of Whitemarsh Island. It will be rebranded to The Retreat Savannah and receive more than $2.5 million in property renovations.
The transaction was brokered by the Cushman and Wakefield team of Nelson Abels, Austin Weathington, Taylor Bird and Jaime Slocumb.
- ◦Sale/Acquisition
