FINANCED
JLL Secures $4M Loan For Savannah Apartment Conversion
455 Montgomery Street
MultiFamily
20,000 SF
20,000 SF
Financed 192 days ago
Summary
Loan
GEORGIA
MultiFamily
20,000 sqft
The AltAccom Group, led by landlord Terry Strongin, has secured $4 million in acquisition financing for the conversion of Alice Hall, a 14-unit apartment building located at 455 Montgomery Street in Savannah, Georgia. The property, with a total square footage of 20,000 and offering multifamily living, will be transformed into short-term rentals.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $4,000,000
- Square Footage: 20,000
- Units: 14
- Address: 455 Montgomery Street
- Market: Savannah, GA
JLL Capital Markets, represented by brokers Ethan Habecker, Jonah Aelyon, and Sarah Murphy, facilitated the acquisition financing for the conversion project. The loan secured for this three-year term, with the option to extend for two additional one-year periods, will support the transformation of Alice Hall into a short-term rental property in Savannah's market.
Players
All
4
Agents
3
Agencies
1
Details
FINANCED
IMAGE: Terry Strongin, Ethan Habecker, Jonah Aelyon & Sarah Murphy
DATE: 10/25/2023
ADDRESS: 455 Montgomery Street
MARKET: Savannah, GA
ASSET TYPE: Multifamily ~ SF: 20,000 ~ UNITS: 14
LANDLORD: Terry Strongin - The AltAccom Group
BROKERS: Ethan Habecker, Jonah Aelyon & Sarah Murphy - JLL
LOAN AMOUNT: $4,000,000
LOAN TYPE: Acquisition
LOAN TERMS: Three-year loan with two one-year extensions
NOTE: JLL Capital Markets has secured $4 million in acquisition financing for the conversion of Alice Hall, a 14-unit apartment building in Savannah, Georgia, into short-term rentals.View on map
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Address455 Montgomery Street
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