SAVANNAH, GA-Savannah Morning News reported that New York City-based FLANK has bought Drayton Tower, a 12-story condominium complex in Savannah, and plans to turn the property into an apartment building. The company completed the acquisition of the bank-owned portion of the building and will start work in the coming weeks on 100 apartments.
FLANK bought the mostly uncompleted space, ground floor retail space and two parking lots for $3.8 million. Work is scheduled to be finished in April 2013. For the full story, go to Atlanta Business Chronicle .
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