Aventon Companies Sells Aventon Park West for Record Price per Unit in Savannah, Georgia
Savannah, GA (June 16, 2021) – Aventon Companies has sold its 295-unit ground up development project in Savannah, Georgia. The sale of Aventon Park West marks the highest per unit institutional property trade to date in Savannah.
Aventon Park West features 14 residential buildings centered around a pond and a community clubhouse and pool, all surrounded by 12 acres of preserved wetlands. The apartment units feature stylish finishes including white shaker cabinets, stainless steel appliances, wood-like plank flooring and 9’ ceilings. The gated community provides residents a clubhouse with co-working spaces, a game room and fitness center, a zero-entry saltwater pool, private garages, 2 dog parks and private garages for rent.
“We are thrilled to have reached stabilization in under 12 months. This project exemplifies the quality of apartment communities for which Aventon is known and that is reflected in the record sale price,” said Ron Perera, Senior Managing Director at Aventon Companies.
In just under three years, Aventon Companies has aggressively assembled an impressive portfolio of ground up development and currently has over $550 million of projects under construction which will bring more than 2,300 Aventon-branded apartment homes to economically strong submarkets in Florida, Georgia, the Carolinas, and the Mid-Atlantic. The company also has a near term development pipeline of another 3,800 units with an investment of nearly $840 million in these same markets.