Lakeland Capital, a private, multifamily investment company active in select East Coast markets, announced it has acquired Savan Pointe, a 2-story 109-unit townhome-style multifamily community at 210 Tibet Avenue in Savannah, Georgia.
“In the midst of Savannah’s growth, reinforced by its diversified economy and distinctively desirable quality of life, a significant portion of its housing inventory is aged, resulting in disparity among its management, maintenance and living conditions,” says Alexander Westra, managing partner at Lakeland Capital. “Through these acquisitions, Lakeland Capital aspires to present tenants with the preferred option for cost-effective living, delivering well-amenitized, clean and secure properties characterized by a high-level service and a genuine sense of pride.”
This is Lakeland’s second multifamily acquisition in Savannah following the purchase of the Retreat at Savannah in September 2023. Lakeland Capital plans to complete extensive improvements to Savan Pointe’s building exteriors, expand the community’s clubhouse and upgrade the landscaping and lighting to provide a safe, clean and desirable environment for residents. Lakeland also plans to address deferred maintenance issues and introduce a best-in-class property management team. Following these initial improvements, interior unit renovations will commence, featuring new appliances, cabinets, flooring and paint.
Founded in 2018, Lakeland Capital is a leader in multifamily investment and management. With a growing investment portfolio that includes more than 700 rental apartment units, 10,000+ square feet of commercial space, and more than $150 million in transactions, the firm seeks high-risk-adjusted returns by investing in existing multifamily assets through which it can add value with physical and operational improvement. Lakeland Capital is setting the industry standard through its long-term approach that creates a better place for tenants to live while preserving capital and generating above market returns for investors.
