Stoneweg US Expands Portfolio with the Acquisition of The Station at Savannah Quarters

News provided by

May 25, 2023, 17:08 ET

ST. PETERSBURG, Fla., May 25, 2023 /PRNewswire/ -- Stoneweg US, a leading real estate investment and development firm, announces its recent acquisition of The Station at Savannah Quarters, a Green Globe Certified, 244-unit core plus multifamily asset located in Pooler, Georgia. This strategic purchase underscores Stoneweg US' commitment to sustainable and socially responsible investments while meeting the growing demand for high-quality housing options.

The Station at Savannah Quarters, developed by Tynes Development in 2019, is situated on approximately 10.8 acres within the renowned Master Planned Use Development Savannah Quarters. The property is comprised of three residential buildings, a leasing center, a clubhouse, four carriage buildings, and 34 garage stalls. Featuring wood frame construction and brick veneer accents, the buildings offer a modern and appealing architectural design. Each main building is a four-story structure serviced by elevators, providing convenient access to all units. The property boasts 9' ceilings throughout, creating an open and spacious living environment.

Strategically located along Pooler Parkway, adjacent to Interstate 16, The Station at Savannah Quarters enjoys excellent connectivity and high visibility, with approximately 37,000 average daily traffic passing through. This prime location allows for convenient access to downtown Savannah, the Savannah/Hilton Head International Airport, and the $5.5 B Hyundai Motor Group Metaplant. The Pooler submarket has experienced robust growth driven by strong demand for coastal living, remote work opportunities, and the economic drivers of tourism, manufacturing, and the Port of Savannah.

Highlighting the significance of this investment, Ryan Smyth, Director of Acquisitions at Stoneweg US, stated, "Our investment in The Station at Savannah Quarters aligns perfectly with our commitment to ESG optimization and creating long-term value for all stakeholders. The property's prime location, coupled with the area's economic growth and high rent growth rates, positions it as an attractive investment opportunity."

Matt Levy, EVP, Head of Investments at Stoneweg US, added, "The Station at Savannah Quarters stands out in the market due to its exceptional quality and strategic location within a thriving community. As a sponsor, we are focused on assets that offer sustainable growth potential, and this investment reflects our dedication to delivering strong returns for our investors."

With its unmatched walkability and proximity to major retail centers, including the area's first Costco Wholesale, The Station at Savannah Quarters provides residents with convenient access to various amenities and demand drivers. In addition, the property is surrounded by single-family homes, reflecting the desirability and upscale nature of the neighborhood.

The upcoming construction of the Hyundai Metaplant, a high-profile Electric Vehicle manufacturing facility at the intersection of Interstate 16 and U.S. 280, further solidifies the Pooler submarket's economic outlook. This major development is set to bring unprecedented job opportunities and will ensure sustained multifamily demand for the foreseeable future.

Stoneweg US plans to enhance the property's value through an ESG and traditional value-add programs, including portable EV chargers, installation of solar panels to the clubhouse, new pool cabanas, and turf installation for cornhole toss. Additionally, the interior renovation program will include new washer and dryers in 35 units, along with the installation of vinyl plank flooring in select units, ensuring residents enjoy modern and sustainable living spaces.

Stoneweg US remains dedicated to its mission of creating long-term value for its stakeholders and the creation of sustainable communities. This investment in The Station at Savannah Quarters further solidifies Stoneweg US' position as a leading real estate firm committed to responsible investing and sustainable development.

About Stoneweg U.S., LLC: Stoneweg US is a multifamily real estate investment firm located in the heart of downtown St. Petersburg, FL, with a portfolio valuation of approximately $2.1 Billion comprised of ~15,000 units. With a focus on asset optimization through ESG, climate resilience, and proven value-add strategies, the company invests in and develops sustainable communities to drive healthy returns and enhance the resident experience. For more information on Stoneweg US, please visit: www.stoneweg.us.

Contact: Tara Kassal
Ascent
917-406-2162
[email protected]

SOURCE Stoneweg US, LLC