SAVANNAH, GA (June 21, 2023)— Atlas Real Estate Partners has acquired Latitude at Godley Station Apartments, a 256-unit Class A- multifamily community built in 2015. The property is located in Pooler, a submarket of Savannah, GA experiencing significant job and population growth.
Atlas has been active in multifamily across the Southeast for the past 14 years and continues to expand its presence in high-growth markets. The company owns and operates ~6,500 multifamily units across several states including Florida, Tennessee, Virginia, Georgia, and South Carolina.
“We’re excited to add Latitude to our portfolio and eager to unlock what we think is incredible potential in the property,” said Arvind Chary, Co-Managing Partner at Atlas. “This project perfectly fits our investment strategy of acquiring high-quality apartment communities at a discount to replacement cost that can be repositioned to create additional value.” Atlas intends to add value to the property through renovating units, upgrading the existing amenities and adding new best-in-class amenities.
Latitude at Godley Station is well-located on Benton Boulevard within Pooler, a desirable Savannah submarket just ~5 minutes from the airport and ~15 minutes from Savannah’s historic downtown. It is surrounded by attractive single-family homes, lifestyle retail, and good schools while having superb access to all major job centers including Gulfstream, JCB, Port of Savannah, downtown, and the $5.5B Hyundai mega-site which will add 8,500 direct jobs and another 5,000 indirect jobs. The property is located within a 15-mile radius of over 187,000 jobs.
“Given the rapid growth and upscaling of Pooler, we believe there is an unmet demand for modern apartments targeting the growing young professional segment in the market,” added Joe Stampone, Managing Director of Investments for Atlas. “We intend to create a community tailored toward this demographic which will include a dog park and dog wash, pickleball court, onsite coworking, poolside grill and firepit and a café/coffee bar.”
Atlas Real Estate Partners (“Atlas”) is a multifamily-focused private investment firm with offices in New York City and Miami. Since its formation in 2009, Atlas has closed over 50 acquisitions and development projects with a total capitalization of ~$1.5B spread over 10k+ residential units and ~1.5M commercial SF with a focus in the Southeast US.
