CHARLESTON, S.C. – December 2, 2020 – Berkadia announced today the sale of Legends at Chatham, a 255-unit multifamily property built in 2015 located in Savannah, Georgia. Managing Director Mark Boyce and Director Blake Coffey of Berkadia’s Carolinas office and Senior Managing Directors Andrew Mays and Paul Vetter of Berkadia’s Atlanta office together completed the $39,525,000 sale on behalf of the seller, Georgia-based United Residential Properties, LLC.
Senior Managing Director John Bray, also of Berkadia’s Atlanta office, facilitated the loan assumption on behalf of the buyer, Memphis-based Fogelman Properties. The deal closed on November 23.
“We’re pleased to announce this sale. United Residential builds a gorgeous product and Legends at Chatham is a perfect example. Our Buyer, Fogelman Properties, will have the benefit of taking over a well-located asset in Savannah with the opportunity to do small interior improvements and continue to add value to this property,” said Boyce.
Located at 1426 Chatham Parkway, Legends at Chatham features one-, two- and three-bedroom floor plans with large closets, energy efficient appliances and patios or balconies. Community amenities include a swimming pool, a fitness center, an outdoor area with grilling stations, a clubhouse and a playground.