The Cushman & Wakefield Multifamily Advisory Group is pleased to present the exclusive listing of Pointe Grand Spartanburg, a 300-unit apartment community located in booming Spartanburg, South Carolina. Pointe Grand Spartanburg is in a premier pocket of Spartanburg that is bolstered by a robust tenant base and excellent multifamily metrics. The one mile radius features an average HHI of $89K, is 61% white collar, and is highly educated ( +68% pursuing higher education). Since 2018, the submarket’s effective rents have increased 39%. An advantageous supply-demand ratio (3:1) also contributes to this market’s staunch positioning. Ideally situated on Hwy-29 and adjacent to I-85, the asset has quick access to over +78K jobs within a 20 minute drive. Anchored by BMW, Michelin, and Inland Port Greer, the Upstate’s multifaceted economy it set to continue on a path of prosperity.
Built in 2022, Pointe Grand Spartanburg offers an institutional quality asset with curated interiors and a top-of-the-line amenity set. New ownership has the opportunity to leverage a brand new asset that has experienced extraordinary leasing velocity (16 avg monthly move-ins) in the desirable Upstate SC market. Neighboring Class A competitors demonstrate +$275 in rental headroom that can be closed through mark-to-market leasing.
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Presley Uptown, a 230-unit community located in the heart of Charlotte’s CBD. Built in 2016, the Class-A asset is situated at the crossroads of the city’s most sought-after neighborhoods, providing outstanding access to Charlotte’s top lifestyle amenities and walkability to more than 135k jobs in the CBD. The premier location also offers immediate access to The Pearl, Charlotte’s new medical innovation district bringing 5,500 new jobs and 3,500 new medical students just next door. Presley Uptown’s accretive assumable debt offers positive leverage day one with a 3.25% rate and 6 years IO remaining.
Furthermore, mid-rise competitors in the submarket offer up to $600 in headroom, ideally positioning Presley Uptown to capture significant rent gains while remaining at a discount to newly delivered high-rise supply ($3.25/SF). Incoming ownership will have the outstanding opportunity close the substantial rent delta to competitors by building upon the property’s existing value-add scope and completing an enhanced, high-end renovation program. Presley Uptown represents a rare opportunity to invest in one of Charlotte’s best-located assets, offering immediate upside and exceptional long-term growth fundamentals, propelled by the neighboring delivery of Charlotte’s first 4-Year Medical School and Innovation District.
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Grove at St. Andrews and Greenwood at Ashley River, two apartment communities totaling 902 units, which can be acquired together or individually. The two assets are situated in two of South Carolina’s most admired cities, Columbia and Charleston. The highly sought-after Dutch Fork and North Charleston submarkets are characterized by top-tier retail and sit in close proximity to some of the area’s largest economic drivers with over 115k jobs within a 20-minute drive from each property. The immediate areas surrounding the properties boast high HHI growth, majority white-collar populations, and impressive rent growth, representing the ideal time to own in these thriving pockets.
The properties offer an outstanding opportunity to gain immediate scale, infrastructure, and create efficiencies in high growth Southeastern markets through well capitalized assets ($5.3M+). Built from 1974-1984, the properties arrive to market with attractive loan assumptions offering interest rates well below current capital market levels and are primed for a Class-A value-add campaign where new ownership can benefit from the tremendous upside of the portfolio advantage, push rents $170+, and yield additional revenue for years to come.