Date of Acquisition
October 2015

Scope of Transaction
$25.3 million

Number of Units
203

Funding
65.1%

Equity
$6 million

Investment by Brightman-Gil
$1 million / 16.6% of the equity
CAPITAL CREST (SOLD)
Savannah, GA

Capital Crest is a development of 203 high-quality, multifamily units in the booming Pooler area of Savannah, Georgia.

This development provides an answer to the soaring demand for housing in Savannah. The city has experienced very high rates of growth due to its major harbor, which is the second busiest port in the east coast. Construction began in October 2015 and was completed in May 2017. Marketing work began immediately afterwards, so that in July 2018 the property was successfully sold at a yield of 24.5% IRR.

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Transaction Details

10/2015
Acquisition

$25.3M
Scope

203
Units

65.1%
Funding

$6M
Equity

$1M
B&G Invested