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POINT GRAND SAVANNAH

Location: 50 Newport Blvd, Port Wentworth, GA 31407

Year Built:  2021

Class:  A

Units:  288

Acquisition Date:  2/22/2022

The Property is located in Chatham County, 11 miles northwest of Downtown Savannah. Per the U.S. Census, the Savannah MSA has a population of 147,780.

Significant organic rental upside upon acquisition, as current ownership is charging rents considerably below comparables. OREI anticipates $542/unit of organic, mark-to-market rent growth.

Light value-add opportunity remains in all 288 units with the installation of Gooseneck Faucets, Glass Shower Doors, and Bathroom Vents. Upon interior renovation, OREI anticipates a $40/unit average rent premium, in-line with similarly renovated product within the submarket.