On behalf of Equus Development Partners and Foram Group (the “Sponsors”), Capstone is pleased to present a limited partner investment opportunity to support the development of Starland Village: a to-be-built, 116-unit Class A apartment community situated on 1.27 acres in the Starland District of Savannah, GA—the 3rd largest MSA in the rapidly growing state of Georgia. This Class A community will feature an excellent mix of studio, one, and two-bedroom units with best-in-class finishes and community amenities. The site is zoned for development by-right, and the sponsor has secured entitlements for the proposed density, providing a competitive advantage in the high-barrier entry Savannah market. Savannah has seen tremendous growth over the past 10 years, greatly outpacing the national average in both population growth and unemployment rate. Home to the third busiest port in the United States, a diverse employment base, and a vibrant entertainment scene, Savannah has cemented itself as a leading southeast city. Additionally, the site is centrally located in the desirable Starland District, which will provide future residents with walkable access to the most sought-after local cafes, restaurants, bars, and shops in Savannah, but also allow convenient access to the area’s retail, groceries, beaches, and interstates. Further, the overall multi-family fundamentals of Savannah are excellent, providing foundational support for incoming investors to couple with the other attractive elements of the project.
- Zoned and Entitled Site in High Barrier-to-Entry Market
- Best-in-Class Finishes and Community Amenities
- Centrally Located in Desirable Starland District
- Extensive Existing and Incoming Employment Hubs
- Robust Multi-Family Fundamentals
- Excellent Deal-Level Economics—6.20% Untrended Yield