Trion Properties Spends $34M on 159-Unit Apartment Community in Pooler
Trion Properties has completed its $34-million acquisition of Pooler Station, a 159-unit garden-style apartment community located in the Savannah submarket of Pooler, GA.
The 2006- and 2017-constructed property is situatied at 100 Oglethorpe Drive on 9.73 acres near major thoroughfares to offer high connectivity to restaurants, retail and major employment opportunities.
“We acquired this community in 2017 and it has been a solid performer throughout its time held,” said Christopher Urso, managing partner of URS Capital Partners. “URS achieved significant and continual rent growth despite COVID-19 and its challenges, providing its investors with a 29%IRR and 2.5X Equity Multiple.”
Trion Properties plans to reposition the 95% occupied asset by modernizing community amenities and upgrading unit interiors. Existing amenities include a swimming pool, picnic/grilling area, dog park and fitness center.
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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