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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.
Tyler Hogan of Capstone Apartment Partners represented the seller, New York, NY-based URS Capital Partners.
“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.
- ◦Sale/Acquisition
