Hillpointe’s $86M Sale of Savannah Apartment Community Hits MSA Record
Hillpointe, LLC, has sold Pointe Grand Savannah, a 288-unit project located in the Port Wentworth submarket of Savannah, GA, for $86.4 million or $300,000 per unit.
According to Hillpointe, the sale established a record per-unit price for garden-style multifamily in the Savannah MSA.
“Pointe Grand Savannah’s record sale price provides further endorsement of the institutional demand for high quality multifamily product,” noted Steven Campisi, co-founder and managing partner of Hillpointe.
“The United States remains significantly underhoused, with occupancies and rents at record highs,” added Kelly Mahoney, co-founder and managing partner of Hillpointe.
Pointe Grand Savannah was completed by the Hillpointe construction team in May 2021 and reached full occupancy in under six months.
Hillpointe has corporate offices in Winter Park, FL and Athens, GA and has developed and built more than 4,000 units of residential and multifamily housing assets representing over $750 million in asset value.
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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