SAVANNAH, GA – Fogelman Properties, one of the largest privately owned and fully integrated multi-family investment and property management companies in the country, announced the acquisition of Legends of Chatham apartments in Savannah, Ga.
Developed in 2015, Legends at Chatham is a 255-unit garden-style community offering one, two and three bedroom apartments. The newly acquired property is 90% occupied with rental prices between USD 1,035 and USD 1,475. In connection with the acquisition, it is expected that the community will renovate the unit interior, clubhouse and fitness center, as well as modernize and redesign the pool area.
Fogelman acquired Legends of Chatham through a joint venture with Dallas-based Thackeray Partners. The deal marks the 11th acquisition for the Fogelman-Thackeray partnership with a total of more than 2,900 units and a total value of more than $ 380 million.
"We are excited to add Legends at Chatham with Thackeray to our expanding portfolio," said Mike Aiken, SVP of Investments at Fogelman. "Since the pandemic, migration patterns have accelerated in favor of southeastern cities like Savannah and this property is in a sub-market with strong access to the growing demand drivers in the region."
Source: Fogelman properties