California Investor Snags 256-Unit Savannah MF Property
Sunroad Holding Corp. of San Diego has acquired Adara Godley Station, a 256-unit apartment property in Savannah, GA. The sales price was not disclosed.
Located at 101 Spring Lakes Drive, Adara Godley Station contains 256 apartment units totaling 278,651 square feet. Built in 2017, the property offers one-, two- and three-bedroom units averaging 1,088 square feet. The community was 97% occupied at the time of the sale. Sunroad Holding Corporation plans to upgrade units with new appliance packages, some additional flooring and improvements to the community clubhouse.
Ron Cameron, Teresa Lowery, Cindy Cooke and Brad Cooke of Colliers brokered the sales transaction. The seller was FI Capital Resources Group, Inc of New York.
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector.
Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA.
David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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