#USA #Savannah #The Palms #Axonic Capital #RREAF Holdings

RREAF Holdings and Axonic Capital Jointly Acquire 'The Palms at Chatham'

In a significant move in the real estate sector, RREAF Holdings, a Dallas-based real estate investment company, has partnered with Axonic Capital, a New York alternative investment management firm, to acquire 'The Palms at Chatham,' a multifamily community located in Savannah, Georgia. The partnership marks an expansion of their investment strategy and underscores both firms' commitment to leveraging the growing real estate market in Savannah.

Overview of the Acquisition

The acquisition of The Palms at Chatham, which includes 300 garden-style units, represents a notable step in RREAF's goal to enhance their multifamily asset portfolio within the Southeast. This acquisition is not just an addition; it is seen as a strategic move that aligns with the firms' approach to acquiring and repositioning multifamily properties.

The property, established in 2003, features a variety of floor plans, including one, two, and three-bedroom apartments. Its strategic location near major transportation routes such as Interstate 516 and U.S. Highway 80 means that residents enjoy easy access to key employment centers, including Hunter Army Airfield and Memorial Health University Medical Center. This connectivity enhances the property’s attractiveness to potential residents, further bolstering the investment’s potential.

Insights from Leadership

Brad Webb, Chief Investment Officer of RREAF Holdings, expressed enthusiasm about the Savannah market, citing its diverse economic base, continuous in-migration, and sustained demand for rental properties. He stated, “This investment reflects our continued conviction in the market and further strengthens our partnership with Axonic Capital.” Such confidence in the Savannah market suggests that the investment firms are anticipating a positive return through strategic enhancements and careful management.

Eric Sitman, Managing Director at Axonic Capital, echoed these sentiments, pointing out Savannah's favorable growth dynamics and the property's significant potential for value enhancement. “The acquisition of The Palms at Chatham offers a remarkable opportunity to employ a thoughtful value-add strategy that can deliver enduring value,