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Lexerd Capital Management LLC Sponsored Fund Acquires Moss Pointe Apartments in Savannah, GA

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The Lory of Savannah

The Lory of Savannah

We are enthusiastic about acquiring Moss Pointe, to be rebranded The Lory of Savannah. Savannah’s economy, combined with its job opportunities, make it an ideal location to expand Lexerd’s portfolio.”
— Albert Lord III, Founder and CEO of Lexerd
SUMMIT, NJ, UNITED STATES, August 18, 2021 /EINPresswire.com/ -- Lexerd Capital Management LLC (“Lexerd”), a New Jersey-based sponsor of private equity funds, announced today that one of its funds has acquired Moss Pointe Apartments, a multifamily property in Savannah, GA. The property consists of 278 individual units. The current amenity package consists of a remodeled clubhouse and office space, enhanced fitness center, recreational area including a pool and an outdoor grilling area, new dog park, resurfaced parking lot, landscaping and pathway instillation, laundry facility, and enhanced signage.

Terms of the transaction were not disclosed.

The property is ideally located on Abercorn Street, a convenient avenue for residents to reach area hospitals, malls, institutes of higher learning, and Hunter Army Airfield, many within minutes.

Savannah is an important regional hub and is home to several preeminent distribution centers serving key industries and companies in the US including Ashley Furniture, Dollar Tree, Home Depot, Ikea, Pier1, Target, and Floor & Decor. Jet aircraft-manufacture, Gulfstream, ranks as Savannah’s largest private employer, employing close to 10,000 people as of 2018, and its total investment nears $1B in the city. Additionally, the Port of Savannah is South Atlantic’s busiest intermodal gateway, and the Georgia Port Authority makes continual strides every year to increase capacity, including $5B in major expansion projects. Finally, on the outskirts of Savannah in Hinesville, Hunter Army Airfield and Fort Stewart is the HQ of the U.S. Army’s 3rd Infantry Division and the largest Army installation east of the Mississippi River, employing 22,422 military and 5,773 civilians.

Moss Pointe will be rebranded as The Lory of Savannah.

“We are enthusiastic about the acquisition of Moss Pointe, soon to be rebranded The Lory of Savannah,” said Albert Lord III, Founder and CEO of Lexerd. “Savannah is a popular tourist destination and has been a premier film destination for more than 60 years. Savannah’s creative economy, combined with the extensive range of job opportunities make it an ideal location to expand Lexerd’s portfolio.”

Lord continued, “The decision to re-brand newly acquired properties under Lexerd’s Lory umbrella of properties conveys our commitment to provide tenants with quality amenities and services which are consistent across all properties in the Lory brand. For many years the Lory brand has been synonymous with quality amenities, exceptional community reputation, and trusted services for tenants. We are committed to upholding those brand qualities with this new acquisition in Georgia. The Lory of Savannah will help Lexerd continue to serve our mission of achieving strong risk-adjusted returns for our investors, while supporting their communities in a meaningful way.”

About Lexerd:
Lexerd Capital Management LLC is a real estate firm that primarily sponsors investments in opportunistic multifamily assets throughout the United States. Lexerd was founded in 2006 by Albert L. Lord III while he was raising capital and advising on a $440 million bid to acquire the Washington Nationals baseball team from Major League Baseball. Lexerd has managed over $1 billion in assets since its founding.

Lexerd’s core mission of preserving capital while generating appreciation and offering investors stable distributions begins with an approach that recognizes the distinctiveness of the multifamily real estate asset class and its unique features. The approach is based on the integration of three key considerations (a) a proprietary Model for property acquisition, (b) focus on small to middle Market properties to avoid larger competitors and (c) efficient Management of acquired properties. Since 2006 the 3M model has served Lexerd’s investors by generating excess returns and stable annual distributions.

To learn more about Lexerd’s approach and philosophy, visit Lexerd Capital and follow them on LinkedIn.

Ronica Cleary
Cleary Strategies, LLC
Ronica@ClearyStrategies.com