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:
80 parking spaces
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.