The Cooke Multifamily Team has successfully completed the sale of Adara Godley Station in Savannah, GA.
The property was sought after by multiple buyers and was purchased by Sunroad Holding Corporation of San Diego, CA.
“Adara Godley Station is a ‘Big House’ style, luxury community with direct access garages and a single-family neighborhood feel. Located only minutes from an abundance of shopping and dining, the property has easy access to major highways and downtown Savannah,” says Ron Cameron of Colliers Georgia. “The property, like many in today’s environment, experience a sharp increase in value over the past few months and was part of a highly contested sales process.”
Ron Cameron of Colliers Georgia, Teresa Lowery of Colliers Texas, Cindy Cooke and Brad Cooke of Colliers in Arizona handled the sale transaction.
“The current market dynamics made this an ideal time for us to exit Adara and provide our investors a successful execution of our business plan. We looked to Ron Cameron and his Colliers Team for their guidance on this execution based on our long-standing relationship that stretches over multiple states, transactions and years,” said Andy Ashwal, vice president of GFI Management Services, Inc.
Located at 101 Spring Lakes Drive, Adara Godley Station contains 256 apartment units totaling 278,651 square feet. Built in 2017, the property offers one, two and three bedroom apartments averaging 1,088 square feet. The community was 97.6 percent occupied at the time of the sale.
The Class A, low-density (7.02 Units/Acre) community is located in one of the fastest growing regions across the Sunbelt. The two-story construction incorporates the Big House design with nearly every unit having direct-acess to a garage. The property’s unrivaled and superior amenity package sets this community apart and caters to the affluent demographics of the area. Sunroad Holding Corporation plans to upgrade units with new appliance packages, some additional flooring and improvements to the community clubhouse.