Madison Secures $35.5M Financing for Savannah Apartments

Madison Communities closed on the financing for Madison Oglethorpe, an upscale garden-style multifamily development located directly adjacent to Oglethorpe Mall in Savannah, Georgia. The mall has over 100 shops and entertainment options.

The financing included a $35.5 million construction loan from United Bank along with preferred equity provided by Forum Investment Group.

Boasting 240 units, Madison Oglethorpe will feature a clubhouse and lounge with co-working space, a state-of-the-art fitness center, and an outdoor lounge. The project will also have a pool and pool deck with grilling stations and a fire pit.

SGA|NW is the Architect, Madison Capital affiliate, BenCo Construction is the General Contractor. Madison Communities anticipates project completion in late 2025.

Madison Capital Group’s Ryan Hanks added, “We have a great location in a strong market, where the demand for coastal living combined with robust employment growth has created a high demand for contemporary luxury residences.”