STATESBORO, GA - V3 Partners recently purchased the 50-unit Eagle Creek Townhouses, a student housing property located in Statesboro, Georgia, next to Georgia Southern University (GSU) from a private seller for an undisclosed price in an all-cash transaction. The seller was represented by Jeremy Merklinger of NAI Savannah.
“Georgia Southern University is among the nation’s fastest growing schools with a eight year enrollment growth of 21 percent and Eagle Creek Townhouses will benefit from our substantial capital improvement campaign which will enable the complex to take advantage of its prime location near the football stadium and university,” according to V3 Partners Managing Partner, Alex Jones.
The 3.71 acre complex was built starting in 1992 and finished in 2002 comprising 50,000 square feet of one, two and four bedrooms in an all brick townhouse layout. V3 Partners will make value-added improvements in the property through a combination of revenue enhancements and operational efficiencies to increase cash flow. V3 Partners is focused on developing an outparcel to add additional one bedroom units to the complex to serve an identified demand.
“We intend to continue to acquire a diversified portfolio of student housing across the Eastern seaboard which fit our aggressive, yet focused, value-added approach,” said V3 Partners Managing Partner, Palo Peirce.
Founded in 2013, V3 Partners is private real estate investment and development firm specializing in value-added student housing properties across the Southeast region. www.v3-partners.com