News

November 10, 2021
Greentree & Marsh Cove Apartments Acquired

Atlantic Creek Real Estate Partners, LLC (“Atlantic Creek”) is pleased to announce the joint venture acquisition of Colonial Village at Greentree (“Greentree”) and Colonial Village at Marsh Cove (“Marsh Cove”, and collectively, the “Savannah Properties”) in Savannah, GA. Acquisition of the Savannah Properties closed on November 10, 2021. Greentree is comprised of a 188-unit, class B, garden-style, multi-family apartment community consisting of 25, one and two-story buildings. Marsh Cove is comprised of a 188-unit, class B, garden-style, multi-family apartment community consisting of 27, one and two-story buildings. The investment plan is to renovate and reposition the Savannah Properties to take advantage of their convenient location that offers access to a number of diverse employment nodes and retail areas within the Savannah MSA.

The Savannah Properties are within 10 miles of Savannah’s Central Business District (“CBD”) and nearby major employers, including companies at the Distribution Center Hub (e.g. Target, Amazon, Walmart, and Home Depot). In addition to nearby abundant retail, the Savannah Properties are also located near medical center employers and Hunter Army Airfield, a local military base staffed by approximately 5,700 active‐duty military members.

Atlantic Creek has offices in New York, NY and Palm Beach, FL and primarily targets direct and joint venture investments in opportunistic and value add office, retail, and multi-family commercial real estate, primarily located on the East and West Coasts of the U.S., Texas, and other select U.S. markets.

For further information on new acquisitions and joint venture opportunities, please contact Jon Trucano, Senior Vice President, in our Palm Beach, FL office at (561) 275-7702.