Stoneweg US Acquires 244-Unit Savannah-Area Asset
Carter Multifamily sold the property after 3 years of ownership.
Stoneweg US has acquired The Station at Savannah Quarters, a 244-unit multifamily community in Pooler, Ga. The asset previously traded in 2020, when Carter Multifamily acquired it for $43.4 million, according to Yardi Matrix data.
Built by Tynes Development in the Savannah Quarters master-planned community, the property came online in 2019. The community comprises three four-story residential buildings which incorporate one-, two- and three-bedroom floorplans ranging from 711 to 1,354 square feet.
Apartments feature walk-in closets and 9-foot ceilings along with in-unit washers and dryers, as well as private balconies or patios for select layouts. Common-area amenities encompass a fitness center, sparkling saltwater pool, hammock garden, clubhouse, cyber café and private storage units.
Stoneweg plans to implement extensive improvements including EV chargers and solar panels, as well as interior upgrades such as new washers and dryers and vinyl-plank flooring. Director of Acquisitions Ryan Smyth said, in prepared remarks, that the property’s purchase aligns with the firm’s commitment to long-term value creation through ESG optimization.
Located at 100 Harley Lane, the 10.7-acre property is off Interstate 16, roughly 13 miles west of downtown Savannah, Ga., and some 8 miles from the Savannah/Hilton Head International Airport. The Hyundai EV and battery plant, slated to come online in 2025 and create some 8,100 jobs, is being constructed about 14 miles away.