SAVANNAH GA
232 UNITS
Purchase Price: $8,500,000
Renovation: $3,125,800
Financing: $7,300,000
Total Equity: $4,979,000
Planned Hold Time: 8 – 10 Years

Continuing to cement its reputation as strong operators in the Savannah market, URS was brought the opportunity to acquire this asset is a direct result of their strong relationships and track record.

URS believed due to the property’s unparalleled location it can serve a variety of prospective tenants. The property had been owned by current ownership for over 20 years and while the property is in fair condition it has not undergone any sort of value add strategy over the years.

With the right capital improvements and management team there is a tremendous value add opportunity to be realized at 2800 Capital Square. URS Capital acquired the asset significantly below replacement cost and significantly below any sales of B and C assets in all of Savannah over the last several years.

URS sold 2800 Capital Square Apartments in January 2020; in just 24 months we were able to achieve a 51.7% project IRR and an equity multiple of 2.37x.

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