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Trion Properties has acquired Osprey on the Bluffs and Heron on the Bluffs apartments in Savannah, GA for $57.7 million.

Trion Properties Buys Off-Market Savannah Multifam Portfolio for $58M

Trion Properties has acquired a multifamily portfolio consisting of two sites, Osprey on the Bluffs and Heron on the Bluffs, totaling 297 units in the Savannah, GA submarket of Southside for $57.7 million. The 1986-constructed properties are 97% occupied.

The transaction was brokered by Taylor Bird, Nelson Abels, Laura Aylor, and Harrison Cheeley of Cushman & Wakefield. Financing was arranged by Continental Partners, with preferred equity provided by Walker & Dunlop and lending provided by Capital One.

The Bluffs portfolio — located on White Bluff Road within a supply-constrained submarket with tremendous opportunity for growth—was acquired at a below-market price, said Max Sharkansky, managing partner at Trion Properties. The assets are located approximately 25 minutes from the Port of Savannah and 20 minutes from downtown Savannah. The properties sit between four hospitals and two nearby military bases, and less than 11 miles from the Savannah/Hilton Head International Airport.

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About Lisa McDuffie

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.

  • ◦Sale/Acquisition
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