Statesboro, Ga. — Marcus & Millichap has arranged the $43.7 million sale of The Hamptons, a 668-bed student housing community located near Georgia Southern University in Statesboro.
Patrick Mullowney and Joel Dumes of Marcus & Millichap represented the seller, IMS Development, and procured the buyer, Redstone Capital Partners, in the transaction. Built in 2015, the 71-building property offers cottage and garden-style units with bed-to-bath parity. Shared amenities include a clubhouse, 24-hour fitness center, tanning beds, a resort-style swimming pool with a lazy river, sand volleyball court, fire pits and walking trails.
“We are pleased to continue our expansion in the southeast, where we continue to acquire value-add and core plus assets at below replacement cost,” says Grant Collard, CEO of Redstone Residential. “We think that The Hamptons’s cottage style, large units, pedestrian location to campus and unmatched amenities will help this property perform very well in a post-COVID world.”