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.