Blaze Capital Partners Buys Georgia Apartments
The newly delivered community is part of a mixed-use development west of Savannah, Ga.
Tapestry Park. Image courtesy of Blaze Capital Partners
Blaze Capital Partners has acquired Tapestry Park, a newly completed, 232-unit community in Savannah, Ga. The seller was developer Roberts Properties.
The property delivered in September this year, Yardi Matrix shows, backed by $22.6 million in construction financing from Synovus Bank. The community is one component in a larger, mixed-use development valued at $70 million, Savannah Now reported. The project plans call for 30,000 square feet of retail and 70,000 square feet of office space.
The community encompasses nine three- and four-story buildings across 4.7 acres at 100 Town Center Drive. The property’s one- to three-bedroom floorplans range from 763 to 1,555 square feet. All apartments include washers and dryers and high-speed internet connections. Residents have access to a gym, a business center, a swimming pool, a clubhouse and 260 parking spaces.
Located in Garden City, the asset is 8 miles from downtown Savannah via Interstate 16, half a mile north. The Garden City Hall and Garden City Library are across the street from the community, and a retail corridor along Ogeechee Road is less than 4 miles south.
Tapestry Park is Blaze Capital Partners’ second acquisition in the Savannah-Hilton Head market. In July, the company purchased Crowne at Old Carolina, a 199-unit community in the Bluffton submarket of Hilton Head, S.C.
