ATLANTA—Mariner Grove, a 320-unit, class A multifamily property in Savannah, GA, has traded hands. Passco Companies acquired the multifamily asset for an undisclosed amount.

Mariner Grove is located just east of Downtown Savannah, which is undergoing a significant revitalization and Eastward expansion, including major projects such as Presidents Square, a 450,000 square-feet mixed-use development, the $800 million Savannah River Landing project, and a 645-room hotel.

“Mariner Grove is both ideally-located in Central Savannah, and is the only fully-amenitized class A multifamily community in its submarket,” Colin Gillis, vice president of acquisitions, Southeast, at Passco Companies, tells GlobeSt.com. “As the city continues to see population and employment growth, and more high-income residents are attracted to the area, these features and prime location will become increasingly in demand. The convenience of the location will be further amplified as the thriving Downtown area expands Eastward, placing Mariner Grove residents more central to the city center's bustling attractions, amenities, and jobs.”