ATLANTA, GA--Engler Financial Group, LLC is pround to present Alta Towne Lake, (top left photo) an upscale 312 unit garden-style Class “A” apartment community located in Pooler, Chatham County, Georgia within the Savannah MSA.
Alta Towne Lake is being offered for sale for $27,200,000 and represents an excellent opportunity to purchase a well located apartment community with attractive below market tax-exempt bond financing.
The property currently has $20,000,000 in outstanding bonds that are enhanced through a Bank of America letter of credit which matures in July 2010. Recent refinance quotes from Freddie Mac's affordable housing group indicate 10 year fixed rate enhancements in the low 5% range, which are approximately 100 basis points below current conventional financing.
The Savannah/Hilton Head International Airport (2 miles east) and the Port of Savannah (6 miles east) are both major economic drivers in the region. The property is also strategically located within Savannah's logistics hub.
If you have any questions or would like to schedule a tour of Alta Towne Lake, please contact Greg Engler, Pat Jones or Kris Mikkelsen. We look forward to working with you on this exciting opportunity.
Contacts:
Greg Engler, 678/992-2000, ext. 1, gengler@efgus.com
Pat Jones, 678/992-2000, ext. 2, pjones@efgus.com
Kris Mikkelsen, 678/992-2000, ext. 4, kmikkelsen@efgus.com
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