The Lowe, Savannah, GA

Savannah GA

Multifamily - Construction

The Lowe, Savannah, GA

MULTIFAMILY - CONSTRUCTION

ACRES Capital has originated a $24 million loan to fund the construction and stabilization of The Lowe, a 135-unit multifamily rental community located in Savannah, Georgia’s historic Victorian District. The property will be a four-story, garden-style building featuring best-in-class amenities. The Lowe is one of the few new multifamily developments in the market with both a pool and indoor parking

The loan is provided to sponsor MED Developers, an innovative developer of multifamily properties, condominiums and group housing that owns and manages a portfolio of more than 500 multifamily units.

The Lowe will feature:
135 Units
80 parking spaces
Pool
Clubhouse area
Fitness center
Outdoor grills

The Property is centrally located in one of Savannah’s main transportation corridors, less than two miles from the Savannah River and within proximity to Interstates 16 and 95. It sits within walking distance to several Savannah College of Art and Design facilities and classrooms, the Port of Savannah, as well as numerous parks and retail areas within the Savannah Historic District.

$24 Million

Loan Amount

Construction Loan

Loan Product

“We are thrilled to partner with ACRES, who was able to provide us with a flexible financing package to help bring this project to life. We are committed to developing quality assets in high barrier-to-entry markets, and The Lowe will fulfill this need in the highly constrained Downtown Savannah market.”

- Nick Finland, VP of Development for MED

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ACRES Capital, LLC (“ACRES”) is an SEC-registered investment adviser with an office in Uniondale, New York. ACRES and its representatives are in compliance with the current registration and notice filing requirements imposed upon SEC-registered investment advisers by those states in which ACRES maintains clients. SEC registration is not an endorsement of the firm by the Commission and does not mean that the adviser has attained a specific level of skill or ability.