BRT Apartments Corp Acquires 150-Unit Multifamily Complex In Savannah For $23 Million

A 150-unit garden-style multifamily complex located at 2200 East Victory Drive in Savannah, GA, has been sold for $23 million. This property is part of the multifamily asset type, showcasing a per unit price of $153,333.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $23,000,000
• Buyer: Jeffrey A. Gould
• Buyer's Company: BRT Apartments Corp
• Units: 150
• PPU: $153,333
• Market: Savannah, GA

BRT Apartments Corp. acquired this property through an 80%-owned joint venture, marking its first investment in the Savannah area. The purchase was financed through a $15.7 million assumed mortgage along with an $8 million credit facility draw, aligning with the company’s strategy to expand its portfolio in the Southeast region.