Overview
The Palmer Real Estate Investment Services group is pleased to exclusively present HAMLET TOWNHOMES, a 46-Unit newly constructed and purpose-built rental community located in Hinesville, GA within the Savannah coastal region. The property was built in 2025 and consists of 3BD/2.5BA floorplans that are 1,444 SF within a 2-story townhome with an attached 1-car garage and 2-car pad parking. The community boasts 100% occupancy with an Avg In-Place Rent of $1,986 ($1.38/psf).
The severe lack of multifamily and BTR development in Hinesville over the past decade has significantly increased rental demand for high-quality assets, as demonstrated by the Hamlet stabilizing within only five months post-completion. In addition, there are no other multifamily or BTR properties under-construction or proposed within a 10-mile radius which will benefit the Hamlet by ensuring elevated occupancy levels and strong lease trade-outs at renewal for many future years.
Investment Highlights
1. MARKET-LEADING QUALITY ASSET
- Custom home building exterior features
- Institutional interior finishes
2. SUPPLY DEFICIENT ADVANTAGE
- The property offers immediate cashflow and the opportunity to capitalize on high-demand for BTR product in a supply constrained market
3. ABSENCE OF COMPETITIVE PRODUCT
- 0 units are presently under-construction (multi and BTR within a 10-mile radius)
- Only 444-Units have been delivered in this submarket since 2015 (multi and BTR)
4. PROXIMITY TO ECONOMIC DRIVERS
- Hinesville rent growth has averaged 5.8% annually since 2020
- Hinesville occupancy levels have sustained a 94% avg since 2020
- Moments from Fort Stewart-Hunter Army Airfield being the largest Army installment east of the Mississippi River employing +25k people
- 2.9M SF of retail destinations (10-mile radius)
5. SIGNIFICANT DISCOUNT TO REPLACEMENT COST
- Based on submarket costs for land, material, and labor the replacement costs would exceed $280,000 per unit
- As homeownership becomes less attainable, residents are electing to rent out of preference and necessity
6. ATTRACTIVE NONRECOURSE ACQUISITIONAL DEBT
- 5, 7, 10 year terms
- +75% LTV
- 1.20x DSCR
- Mid-5% Interest Rate
- Full Term interest-only available
Investment Summary
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