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JV Snaps up Multifams in Upcoming Savannah, Jackson Markets for $38M
Broad Creek Capital and Springer Capital have purchased Largo Pointe in Savannah, GA and Chapel Ridge in Jackson, TN for a combined price of $37.9 million. The multifamily purchases add more than 350 units to the JV’s Enhanced Income Strategy portfolio.
“Multifamily real estate in the US is one of the most compelling investment opportunities we see today because it can provide attractive, stable yield and significant capital appreciation in a market where inflation and interest rates are driving uncertainty,” said Matthew Ruesch, co-founder and managing partner at Broad Creek Capital. “Both short-term and longer-term fundamentals for multifamily are strongly supportive of this continued outperformance,”
“Savannah and Jackson are exciting markets within the Southeast because of the continued population growth and economic investment in each,” added Tom Farnoly, principal at Springer Capital. “The expansion of the port and several new distribution and logistics centers in Savannah are supercharging that already strong job market.
Photo: Largo Pointe
- ◦Sale/Acquisition
