The Palomar Group is pleased to announce the successful sale of Southern Magnolia Apartments, a 28-unit multifamily property located at 300 S. Main Street in Statesboro, GA. The asset sold for $1,725,000 and was 96% occupied at the time of closing. The buyer, a local investor, acquired the property from an out-of-town seller on May 29, 2025.
Southern Magnolia Apartments consists entirely of 1-bedroom, 1-bathroom units and traded at a 7.8% cap rate, presenting a compelling opportunity for value creation in a growing Georgia market.
“The new owner plans to clean up the exterior and bring rents closer to market over time,” said Lee Malchow, Vice President of The Palomar Group.
This transaction highlights The Palomar Group’s continued expansion of its multifamily presence across Georgia. The deal reflects the firm’s deep understanding of secondary and tertiary markets and its ability to deliver strong outcomes for clients.
With a growing track record in multifamily investment sales, The Palomar Group combines local market knowledge with institutional-grade execution, serving investors throughout the Southeast.
