Cross Creek Cove

Posted: 4/10/2018
SOLD
265 Units
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Cross Creek Cove
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Cross Creek Cove
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Cross Creek Cove
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Cross Creek Cove
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Cross Creek Cove
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Cross Creek Cove
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Cross Creek Cove
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Cross Creek Cove
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Cross Creek Cove
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Cross Creek Cove
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Cross Creek Cove
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Cross Creek Cove
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Cross Creek Cove
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Cross Creek Cove
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Cross Creek Cove

About

About Cross Creek Cove

Offers due:  Wednesday, May 16, 2018

The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present Cross Creek Cove, a 265-unit 1984 / 1994-built apartment community in Fayetteville, NC. Strategically located along the highly popular Skibo Road corridor in west Fayetteville, the property is conveniently situated in close proximity to the city’s premiere retail nodes and top economic catalysts. Cross Creek Cove is a quality asset with low maintenance, attractive brick exteriors that has received a combined capital infusion of more than $859,000 and is being offered at a discount to replacement by its current owner, who has owned the asset for 19 years. This coupled with strong operations - the property has maintained an average occupancy level of 94% since January-2015 - and a low concentration of military tenants, currently 20%, offers incoming investors the unique opportunity to acquire a quality asset with 30% NOI growth potential through a comprehensive interior upgrade program. The property is being offered on an all-cash basis or as a loan assumption with a below market interest rate.