Savannah shipyard auctioned for nearly $18 million

Property and assets of Global Ship Systems, a longtime shipyard on the Savannah River, were sold at auction Wednesday for $17.95 million in front of the Chatham County Courthouse.

Drawbridge Special Opportunities Fund LP had foreclosed on the property at 301 N. Lathrop Ave., and it was sold to DB GSS LLC, a ‘dummy’ corporation affiliated with the lender.