Beachwold Residential Acquires Savannah Affordable Multifamily with $24M Loan
JLL has arranged a $24 million acquisition financing for Ashton at Richmond Hill, a 232-unit, garden-style, affordable apartment community in the Savannah, GA suburb of Richmond Hill.
A JLL team of Elliott Throne, Kenny Cutler and Karim Khaiboullin worked on behalf of the borrower, Beachwold Residential, LLC., to originate a floating-rate acquisition loan through Sound Point Capital Management. Sound Point’s Southeast originations team was led by Jordan Heller.
“Beachwold was able to secure a flexible acquisition financing solution at a time when the bridge market had an excellent appetite for this type of product in the Sunbelt,” said Cutler.
The 1995-constructed apartment community features one-, two-, and three-bedroom apartment homes with open-concept living areas. It is located at 505 Harris Trail Road just outside of Savannah and with accessibility to Interstate 95 and Ocean Highway along with proximity to outdoor activities and local retail centers.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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