Newmark Completes Sale of Three-Property, 372-Unit Multifamily Portfolio in Savannah, GA

January 7, 2026 9:00 AM

Newmark announces the Company has arranged the sale of the Garden City Portfolio, a three-property, 372-unit multifamily portfolio in the Savannah, Georgia, metro area.

Newmark Senior Managing Director Brooks Colquitt represented the seller, RREAF Holdings, in the transaction. The buyer was a large private fund with several holdings in the Savannah area. The acquisition also included the assumption of a fixed-rate loan originated by Freddie Mac.

“This transaction underscores the depth of demand for well-located multifamily assets in high-growth logistics markets like Savannah,” said Colquitt. “The portfolio’s scale, proximity to major employment centers, value-add potential and attractive assumable in-place debt created a compelling opportunity, with new ownership positioned to capture long-term value amid continued market growth.”

The portfolio includes Azure Cove, a 144-unit property located at 1326 US-80 in Garden City; Kessler Point, a 120-unit property located at 1326 US-80 in Garden City; and The Arbors, a 108-unit asset located at 4035 Kessler Ave in Savannah. Built between 1987 and 1990, the assets offer strong value-add potential, with a mix of classic, mid-level and premium units. Community amenities include fitness centers, landscaped courtyards, grilling and picnic areas, swimming pools, laundry facilities, playgrounds and pet parks.

Located adjacent to one another, the properties provide seamless access to Savannah’s primary logistics corridor and are surrounded by more than 76,000 jobs and 38 million square feet of logistics and industrial space within a 15-minute drive. Major nearby employers include the Port of Savannah, Gulfstream Aerospace, Amazon, JCB, FedEx and Norfolk Southern, with Savannah/Hilton Head International Airport and the Historic District less than 15 minutes away.

According to Newmark Research, multifamily fundamentals remain resilient across the Southeast, supported by sustained population and job growth in high-growth secondary markets such as Savannah. While new supply has increased competition in select Sun Belt metros, investor demand for value-add and workforce housing assets continues to drive transaction activity and pricing stability throughout the region.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended September 30, 2025, Newmark generated revenues of over $3.1 billion. As of September 30, 2025, Newmark and its business partners together operated from approximately 170 offices with over 8,500 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

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