Passco Buys 320-Unit Multifamily Community Near Downtown Savannah for $62.6M

by Camren Skelton

SAVANNAH, GA. — Passco Cos. has acquired Mariner Grove, a 320-unit multifamily property located at 2010 E. President St. in Savannah, roughly three miles east of Savannah’s historic downtown district. Robert Stickel and Alex Brown of Cushman & Wakefield arranged the $62.6 million transaction on behalf of the seller, Brand Properties, which developed the property in 2016 in a joint venture with Mariner Group. Chris Black and Caleb Marten of KeyBank Real Estate Capital arranged acquisition financing for the newly built asset on behalf of Passco. Other terms of the transaction were not disclosed. The three-story community was designed around a 300-year-old live oak grove, and features a saltwater pool with a sundeck and cabanas, fitness center with a yoga studio and a pet park.

 

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