Peach Hill Capital and RK2 Property Group acquired Georgetown Crossing, a 168-unit Class B garden-style apartment community at 1015 King George Blvd. in Savannah, for $25.6 million and plan to renovate it as soon as possible. Built in 1994, 103 of the units have not been renovated since. The investors plan to upgrade the flooring, appliances, kitchen and bathroom fixtures, landscaping and amenities, such as the pool.

This is Peach Hill’s second multifamily investment in Savannah in the past eight months. Late last year, the firm acquired two adjacent communities in Savannah’s Southside submarket. 

“By taking advantage of operational efficiencies and economies of scale, we plan to make thoughtful improvements that will enhance the tenant living experience while still maintaining affordable rents,” said Peach Hill’s Daniel Joels. 

Georgetown Crossing will be rebranded Georgetown Oaks.