URS Capital pays $18M for Savannah apartment complex
Huntington-based URS Capital Partners purchased Oglethorpe Square Apartments in Savannah, Ga., for $18 million. Credit: URS Capital Partners
URS Capital Partners, a Huntington-based real estate investment company, has paid $18 million for an apartment complex in Savannah, Georgia.
The development, called Oglethorpe Square Apartments, features 160 units that were built over the last nine years. The property is the second purchase the Long Island firm has made in the Savannah area in the last year.
URS will rename the complex Pooler Station, and hopes to take advantage of the area’s “exploding retail and employment growth,” according to a news release.
“There is a tremendous opportunity to enhance the grounds, amenities, fitness center and interiors, making Pooler Station one of the best value propositions in the market for future residents,” Christopher Urso, managing partner of URS Capital, said in a statement.
The company said it has acquired more than $138 million in multifamily properties in recent years, and is looking to spend $50 million to buy apartments in the Midwest and Southeast later this year.
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