RREAF Holdings and Axonic Capital Announce Joint Venture Acquisition of 'The Palms at Chatham' Multifamily Community in Savannah, GA

RREAF Holdings, in partnership with Axonic Capital, has announced the acquisition of The Palms at Chatham, a 300-unit multifamily community located in Savannah, Georgia. The deal, finalized on June 17, 2026, marks a significant expansion of RREAF's multifamily portfolio in the Southeast, although the financial terms of the transaction remain undisclosed. This acquisition is part of a broader strategy by both firms to enhance their holdings in the multifamily sector, particularly within high-growth markets.

The Palms at Chatham, built in 2003, features a mix of one-, two-, and three-bedroom floorplans, catering to a diverse range of tenants. The property is strategically located in Savannah's Garden City/Midtown submarket, providing residents with strong connectivity to major transportation routes such as Interstate 516 and U.S. Highway 80. This accessibility facilitates convenient travel to key employment centers, including Hunter Army Airfield and the Port of Savannah, which are critical to the local economy. RREAF's Chief Investment Officer, Brad Webb, emphasized Savannah's strong economic fundamentals, including steady in-migration and consistent renter demand, as key factors driving this investment.

The acquisition aligns with RREAF and Axonic Capital's programmatic strategy focused on the acquisition and repositioning of multifamily assets. Following the successful sale of three older properties in the Savannah area last December, RREAF aims to enhance its portfolio with The Palms at Chatham, which is perceived to have significant value-add potential. The property was acquired at a notable discount to replacement cost, presenting a favorable entry point in a market where new construction costs continue to rise.

As part of the acquisition strategy, RREAF plans to implement a comprehensive capital improvement plan aimed at modernizing the property and enhancing the resident experience. Renovations will commence immediately and will include upgrades to individual units as well as improvements to common areas, such as the clubhouse, amenities, and landscaping. The property will be rebranded as Linden at Southover, reflecting its new identity post-renovation. The management of the property will be overseen by RR Living, RREAF's in-house property management platform, which will focus on operational optimization and community engagement.

In the broader context, this acquisition underscores the ongoing demand for multifamily housing in the Southeast, particularly in markets like Savannah that exhibit strong growth dynamics. As RREAF and Axonic Capital continue to pursue strategic investments in this sector, the deal may signal a trend of increased activity in the multifamily space, driven by favorable economic conditions and a growing population in the region. The success of The Palms at Chatham's repositioning could serve as a benchmark for similar investment strategies in the multifamily sector across the Sun Belt.