POOLER STATION
POOLER GA
160 UNITS
Purchase Price: $17,950,000
Sale Price: $34,000,000
Hold Time: 59 months
Project Level IRR: 29%
Project Level EM: 3.24
THE SITUATION
After establishing a reputation as strong operators with the acquisition of Moss Pointe in Savannah, URS got the call for this off-market deal in nearby Pooler, GA. Originally named “Oglethorpe Square Apartments” this property had been run very lean by the original developer who continually added buildings to the complex. Pooler Station was acquired in September 2017.
URS was able to rebrand and reposition the property over time to achieve significant and continual rent growth, while keeping expenses well controlled, even through the challenge of Covid.
Pooler was sold in September 2022, with a sale price of $34,000,000, achieving a Project Level 29% IRR and a EM of 3.24x.
