USAHutchinson Island Apartments - EB5 Project - Lincoln Global Partners

Introducing JF38, an exceptional 288-unit multifamily development and EB5 investment project positioned on Hutchinson Island in the captivating city of Savannah, Georgia. This project exemplifies the epitome of luxurious apartment living within a unique island locale, while still providing convenient access to the downtown area.

The allure of downtown Savannah lies in its irresistible charm and historical grandeur, enchanting both visitors and residents alike. With its cobblestone streets, majestic oak trees adorned with Spanish moss, and exquisite architectural wonders, this southern gem creates a mesmerizing atmosphere. Hutchinson Island, situated across the Savannah River, presents residents with awe-inspiring vistas of the city’s skyline, all within arm’s reach of the vibrant heart of Savannah. Embrace the tranquility and elegance of Hutchinson Island while still relishing in the lively energy of downtown Savannah at JF38.

The Investment:

The total cost of this EB5 project will stand at $108,800,000 USD and from this the developer is raising a total of 40,000,000 in investment for the project. There are therefore 50 units at $800,000 USD each available for EB5 Investors.

Savannah EB5 investment

Savannah Eb5 Investment

EB5 Investment Project Advantages Overview:
  • Construction of the project commenced during the summer season.
  • Savannah boasts a diverse economy, and more than ten companies have recently declared significant expansions, resulting in the creation of over 10,000 new job opportunities and a staggering $5.7 billion in capital investments for the region.
  • The most substantial expansion is Hyundai Motor Group’s exclusive facility dedicated to electric vehicle and battery manufacturing.
  • Due to its strategic location near prominent transportation hubs like Savanna/Hilton Head International Airport (SAV) and Brunswick Golden Isles Airport (BQK), along with being one of the largest and busiest seaports in the United States,
  • Savannah is an appealing destination for investment. Its advantageous position facilitates both local and international business activities.
  • The sponsor possesses extensive expertise in developing multifamily projects across the southern United States, with a track record dating back to 1964. Additionally, they currently have over $1.2 billion invested in active projects.
  • By securing the construction loan, the senior lender has already mitigated potential risks in the capital stack.

eb5 investment

EB5 Project Location

Located on Hutchinson Island in Savannah, Georgia, the Project benefits from the area’s recent population and economic growth. Savannah, being the oldest city in Georgia, attracts a significant number of tourists due to its rich historical district and proximity to the Atlantic Ocean. In fact, in 2021 alone, Savannah welcomed over 15 million visitors who contributed $3.3 billion to the local economy.

The Project is entering a thriving multifamily market, with positive net absorption recorded in 17 out of the past 20 quarters, spanning from 2018 to 2022. Over the past two years, the average annual rental growth rate has been an impressive 13%, with a steady rate of 4.2% over the last decade. This steady growth can be attributed to Savannah’s dynamic and stable economy, making it an appealing destination for real estate investment.

Strategically located adjacent to the Westin Savannah Golf Resort and Spa and in close proximity to the Savannah Convention Center, the Project enjoys a prime position. Additionally, plans for an enhanced public marina, pedestrian boardwalk, and pedestrian linear park approximately one mile south of the site further enhance its appeal.

The Port of Savannah plays a significant role in driving demand for the city. As one of the major seaports in the United States, it ranked 13th in gross tonnage in 2020. Moreover, the port has recently announced a $410 million terminal overhaul project to expand its capacity, promising even greater economic opportunities.

Furthermore, SCAD (Savannah College of Art and Design) significantly contributes to the local economy. With a student and faculty population exceeding 17,000, the college is renowned as one of the top art and design institutions in the country.

According to the Savannah Economic Development Authority, there have been 10 company expansion announcements, which are expected to bring in 9,263 new jobs and $5.7 billion in capital investment. These announcements also include 72 new projects that are anticipated to be built. Notably, the largest project is the fully dedicated electric vehicle and battery manufacturing facility by Hyundai Motor Group. Located just 30 miles from Savannah, this facility is projected to create 8,100 auto-manufacturing jobs and attract $5.54 billion in investment, with an additional $1 billion expected from future suppliers. Set to be completed in 2025, this project represents Georgia’s largest-ever economic development endeavor.

With strong services industries and sustained high consumer demand, Savannah’s economy is poised to continue expanding rapidly in the near future.

The Developer

The developer of the EB5 Investment project established in 1964, is a privately-held, full-service real estate company that has been making waves in the industry. The company boasts an impressive and diverse portfolio that spans across various sectors. With a strong presence in the southern US, they currently own and manage 27 multifamily properties. Additionally, their expertise extends to the development of hospitality, medical, and retail projects.

With a whopping $1.2 billion invested in ongoing projects, the developer primarily focuses on development and management platforms. Their extensive experience shines through, having developed or managed over 20,000 multifamily units and more than 20 million square feet of commercial and industrial space.

To cater to all aspects of asset management, the developer offers a comprehensive suite of services through its wholly-owned subsidiary. These services include property management, construction management, leasing, and accounting, ensuring a seamless experience for their valued clients.

Eb5 Investment

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