Middleburg Begins Construction of Mosby Lakeside in Pooler, GA
Virginia-based developer and investor Middleburg has begun construction of Mosby Lakeside, a 316-unit multifamily apartment community in Pooler, GA, a high growth suburb of Savannah. The community will feature water views, top-notch amenities and a great location adjacent to the new St. Joseph’s/Candler hospital campus, with easy access to a variety of retail, restaurant and entertainment venues. Mosby Lakeside is located within Lakeside Village, a mixed-use development positioned to take advantage of the rapid growth of the local economy with service retail, restaurants and professional office space.
“Mosby Lakeside will be the premier rental community in the Pooler submarket with unmatched property amenities and apartment homes,” said Middleburg Managing Partner, Chris Finlay. “Mosby Lakeside complements our high-quality portfolio of livable, well-located rental communities throughout the Southeast.”
Middleburg has partnered with RSE to provide preferred equity for the project as part of the overall capitalization of the development. Synovus Bank also provided construction financing. “Teaming with RSE and Synovus provided a very efficient and competitive capital structure for this project,” stated Kory Geans, Partner and Chief Investment Officer for Middleburg. “We have executed multiple transactions with both RSE and Synovus and continue to be impressed with their respective performance and execution.”
About RSE Capital Partners: RSE is a principal investor that provides innovative capital solutions for top-quality real estate sponsors. RSE is currently invested in $2.3 billion of commercial real estate and deployed $320 million in 2018. For more information, please visit: rsecap.com.
About Synovus Bank: Synovus Bank, a Georgia-chartered, FDIC-insured bank, provides commercial and retail banking, investment, and mortgage services together with its affiliates through 300 branches in Georgia, Alabama, South Carolina, Florida, and Tennessee. Synovus Bank was named one of American Banker’s “Best Banks to Work For” in 2018 and has been recognized as one of the country’s 10 “Most Reputable Banks” by American Banker and the Reputation Institute for four consecutive years. Synovus Bank is on the web at synovus.com, and on Twitter, Facebook, LinkedIn, and Instagram. Equal Housing Lender.
About Middleburg Real Estate Partners: Middleburg is a fully integrated multifamily development, investment, and management company operating in the southeastern and mid-Atlantic United States. Since 2004, Middleburg has acquired and developed more than 16,000 apartment units, executing on approximately $2 billion in transactions. For more information, please visit: livemiddleburg.com.