Cushman & Wakefield is pleased to present for sale the Richfield Apartment Portfolio, a 3 Building, 40-unit value-add opportunity in the vibrant 494 Corridor of western Richfield, MN. Long-term ownership has maintained the buildings with care and now offers investors the opportunity to acquire the portfolio or individual assets.

The properties are located near the Best Buy Headquarters with the addresses 7421 Penn Ave S, 7412 Oliver Ave S, and 7428 Lyndale Ave S and contain 11, 11, and 18 units respectively. The apartments’ prime location gives residents easy access to public transit, interstate 494, Southtown Shopping Center, Target, Hobby Lobby, and many dining options.

Ideally located in Richfield’s 494 corridor, just off Interstate 35W, the Richfield Apartment Portfolio is a true value-add opportunity with legitimate immediate upside. The unit-mix is predominantly one-bedrooms with large floor plans. The average in-place rent is currently 5-12% below comparable properties in the sub-market, and renovated units nearby are achieving 20% rent premiums. This allows opportunistic investors the ability to capture their desired returns through implementing a “light” in-unit and common area renovation plan.

The Richfield Apartment Portfolio is offered free and clear of existing financing and tours will begin the week of May 1st. Please contact Lance Steiger directly to set up a tour, which will be scheduled by appointment only.
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Under Contract
Richfield Portfolio (2 properties, 40 units)
Lyndale
18 Units
7428 Lyndale Ave S
Richfield, MN  55423
Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present Pines of Newpointe and Lynnbrook Forest, a 181-unit two property portfolio located in Virginia Beach, Virginia. Built in 1996 and 1985 respectively, the Properties are uniquely comprised of two and three bedroom rental flat style and townhouse units with modern unit layouts within one of the region’s strongest economies. Pines of Newpointe and Lynnbrook Forest are well maintained with significant capital invested including a refresh of original interior finishes. The Properties exhibit strong value-add fundamentals through in-unit renovation potential which can garner additional rent increases. Pines of Newpointe and Lynnbrook Forest’s location within Virginia Beach provides residents access to a significant amount of convenience retail and proximity to some of Hampton Road’s largest employers. Pines of Newpointe and Lynnbrook Forest’s exceptional location and unique construction type make it a rare opportunity to acquire two stable, cash flowing assets with additional upside in one of the strongest municipalities in the expanding Hampton Roads economy.
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Under Contract
Pines of Newpointe & Lynnbrook Forest (2 properties, 181 units)
Lynnbrook Forest
56 Units
665 Goose Creek Rd
Virginia Beach, VA  23462
Posted: 1/29/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 173-unit Magnolia Preserve apartment community located in Dothan, Alabama. Dothan is widely regarded as the "southeastern gem" of the state, with a growing medical/industrial economy and major local job growth. Magnolia Preserve maintains one of the best multifamily locations in the submarket, within the Montgomery Highway retail corridor (3M+ SF) and $80K+ average household incomes. The community, one of the only Class A assets in the entire market, has produced outstanding NRI growth since delivery (9.2% YoY last 3 years) and stable occupancy. The next investor can further juice collections through rounding out the in-place value add campaign. The asset is offered as a debt assumption or on an all-cash basis.
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Magnolia Preserve
173 Units
101 Magnolia Ridge Place
Dothan, AL  36303
Type: Conventional
Posted: 3/21/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group, in conjunction with the Cushman & Wakefield Student Housing Team, is pleased to present the exclusive listing of the 156-bed Main 608 apartment community located in Clarksville, Montgomery County, Tennessee. This asset is situated directly across from the rapidly-expanding Austin Peay State University (APSU) campus. Delivering in July 2018, Main 608 offers an outstanding opportunity to invest in a strategically located, true Class A asset that is poised to benefit from one of Tennessee’s fastest growing markets.
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Main 608
77 Units | 156 Beds
608 Main Street
Clarksville, TN  37040
Type: Student
Posted: 5/16/2018
The Cushman & Wakefield Southeast Multifamily Advisory Group is excited to present the exclusive listing of the 167-unit Stonegate at Eagle’s Landing and the 300-unit Mandalay Villas in Henry County, Georgia. Henry County is one of Atlanta’s top growth corridors with over 15% projected household income and population growth over the next 5 years. Despite this impressive growth, Henry County’s apartment market has been extremely under-supplied since 2010 (2.4K units delivered), a catalyst for continued rent growth. Additionally, Henry County’s industrial market is booming with 13.4M SF under construction/proposed, creating an additional 8.9K jobs. These strategic locations are further bolstered by the surrounding demographics. Stonegate at Eagle’s Landing and Mandalay Villas present the opportunity to acquire a value-add portfolio below replacement cost in one of the Southeast’s main distribution markets.
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Under Contract
Stonegate at Eagle's Landing & Mandalay Villas (2 properties, 467 units)
Mandalay Villas
300 Units
1395 Towne Centre Village Drive
McDonough, GA  30253
Type: Conventional
Posted: 1/22/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 62-unit two-property Carrollton Portfolio located in Carrollton, Carroll County, Georgia. Residents of Carrollton are attracted to the city’s high quality of life, abundance of recreation, and convenient access to Atlanta’s westside job hubs within 40 minutes. Notably, these properties are within the Carrollton City School district, which was just ranked the #8 “Best School District in Georgia” by Niche.com for 2019. Situated in the desirable southside area of Carrollton, these properties are highly accessible to the market’s major employers and premier retail. Built in 1974 and 1980 and located less than a quarter mile apart, Governor’s Court and Maple Ridge together represent an outstanding opportunity to invest in a value-add ready, synergistic portfolio in a flourishing suburban Atlanta community.
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Carrollton Portfolio (2 properties, 62 units)
Maple Ridge
22 Units
1101 Maple Street
Carrollton, GA  30117
Posted: 4/11/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 2.68-acre Marathon Village Land development site located in Nashville, Davidson County, Tennessee. The site qualifies as an Opportunity Zone and is uniquely situated in the Marathon Village neighborhood, while bordering the highly affluent North Gulch. An additional 1.1-acre site is available in the immediate area. Located less than 1 mile from Downtown Nashville, the site offers an outstanding opportunity for new multifamily construction. Average rents are based on comparable properties outlined in Offering Memorandum.
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Marathon Village Land
   
1501 Herman Street
Nashville, TN  37208
Type: Land
Posted: 1/16/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 362-unit Cartersville Portfolio located in Cartersville and Adairsville, Bartow County, Georgia. These assets are situated in rapidly-expanding northwest suburban Atlanta with proximity to the prolific I-75 accelerated growth corridor. Built in the early to later 2000s, these nine sets of properties represent a rare opportunity to establish a substantial investment footprint in one of Atlanta’s northwest expansion areas where the population is projected to increase by 30% through 2050.
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Cartersville Portfolio (9 properties, 362 units)
MCIP Townhomes
74 Units
100 Mountain Chase
Cartersville, GA  30120
Posted: 5/22/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the Coastal 4 Portfolio which is comprised of 368 units in Pascagoula, Mississippi. The 4 assets are strategically positioned near employment centers and other gulf coast amenities. Built between 1967-1979, this portfolio represents an outstanding opportunity to invest in historically stabilized assets that are poised to generate strong returns through value-add and lease-up strategies.
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Coastal 4 Portfolio (4 properties, 368 units)
Meadow Wood
76 Units
4315 Orchard Road
Pascagoula, MS  39581
Posted: 10/31/2018
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 438-unit Chattanooga Value-Add Portfolio located in Chattanooga, Hamilton County, Tennessee. These assets are situated in desirable east Chattanooga and benefit from unparalleled access to Chattanooga’s best retail corridor. Built between 1974-1994, the Chattanooga Value-Add Portfolio offers an outstanding opportunity to immediately establish a strong investment platform in one of Chattanooga’s fastest growing neighborhoods.
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Under Contract
Chattanooga Value-Add Portfolio (2 properties, 438 units)
Meridian at Hamilton Place
238 Units
7301 East Brainerd Road
Chattanooga, TN  37421
Posted: 10/1/2018
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 15.04 acre land site located on the corner of Milton Road and Barrington Drive in Charlotte, NC. Firmly cemented in a solid demographic region, The Milton Road land site offers seamless connectivity to Charlotte’s largest job centers by way of NC-24 and the land is already zoned for multifamily development. With the Charlotte LYNX Blue Line transit system finished and more expansion underway, East Charlotte is expected to boom in development. Over 80% of the apartment complexes in this submarket are greater than 15 years in age, providing developers with an outstanding opportunity to capture first-class market share in the area.
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Milton Road Land Site
   
Milton Road
Charlotte, NC
Type: Land
Posted: 8/9/2018
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 362-unit Cartersville Portfolio located in Cartersville and Adairsville, Bartow County, Georgia. These assets are situated in rapidly-expanding northwest suburban Atlanta with proximity to the prolific I-75 accelerated growth corridor. Built in the early to later 2000s, these nine sets of properties represent a rare opportunity to establish a substantial investment footprint in one of Atlanta’s northwest expansion areas where the population is projected to increase by 30% through 2050.
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Cartersville Portfolio (9 properties, 362 units)
Mockingbird Townhomes
24 Units
45 Mockingbird Drive
Cartersville, GA  30120
Posted: 5/22/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 45-unit, Monarch apartment community located in Durham, NC MSA. Built in 1965, this asset received a recent investment of $382,000 in improvements. The surrounding market indicates that potential investors can take the current mid-tier renovations a step further with the opportunity to boost NOI by over 30% through implementation of a value-add 2.0 program. As Downtown Durham continues to revitalize its infrastructure, this quality, low maintenance asset is primed to capture the incoming workforce spillover as the city continues to attract new and expanding Tech/Life Sciences/Healthcare employers, resulting in an affluent and educated labor pool.
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Under Contract
Monarch
45 Units
1001 Ruby Street
Durham, NC  27704
Posted: 2/13/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 362-unit Cartersville Portfolio located in Cartersville and Adairsville, Bartow County, Georgia. These assets are situated in rapidly-expanding northwest suburban Atlanta with proximity to the prolific I-75 accelerated growth corridor. Built in the early to later 2000s, these nine sets of properties represent a rare opportunity to establish a substantial investment footprint in one of Atlanta’s northwest expansion areas where the population is projected to increase by 30% through 2050.
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Cartersville Portfolio (9 properties, 362 units)
Morgan Square
52 Units
290 East Felton Rd
Cartersville, GA  30121
Posted: 5/22/2019

The Mountain Vista apartment complex was built in 1979 and is located at 3950 South Mountain Vista Street, in Las Vegas, NV. The Paradise Valley East submarket is well situated to value-add opportunities and the Mountain Vista exemplifies this, given that nearly 50% of the units have been renovated, thus displaying clear upside to increase yields above the market. Amongst comparable rental properties in this submarket, the current asking rent of unrenovated units at the Mountain Vista are $57 per month lower than the average market rent & $218 per month lower than the highest comp in the submarket.

Renovated units are only asking $22 per month higher than the average of the comp set, proving that there is additional upside beyond the renovation plan that the current ownership has implemented. Additionally, the project has been well kept by ownership that owns other high-end assets in the market.

Approximately 30% of the A/C units have been recently replaced, and the common areas have been upgraded and maintained, thus encouraging the continuation of a renovation plan to boost rents.

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Mountain Vista Apartments
178 Units
3950 S Mountain Vista St
Las Vegas, NV  89121
Posted: 2/12/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 23-acre Navassa Road Site located in Leland, North Carolina. Situated within an opportunity zone inside of the 4th fastest growing county in the country, the site is in a prime location for new development. Located only 4 miles from a booming downtown Wilmington, the Navassa Road Land site is perfectly situated to experience all Wilmington has to offer. In addition to the locational benefits of the Wilmington MSA, the site is in the heart of Leland’s Gateway District - an area the town has prioritized for immediate infill redevelopment.
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Navassa Road Land
   
Forest Hills Dr & Navassa Rd
Leland, NC  28451
Posted: 5/31/2019
The Perfect Sunrise Location with Tremendous Upside

Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire Nexus Sawgrass, a 501-unit core-plus opportunity located in Sunrise, Florida. Developed in 2013, the property consists of a mix of four-story midrise and three-story garden buildings. Current ownership has been upgrading the bedrooms with hard surface flooring on 47 units and has been achieving average premiums of approximately $45. With the quality construction and location, Cushman & Wakefield projects additional upside potential to include: continuation of the hard surface flooring, upgraded light & fan package, backsplash, USB ports and updated appliances. The location of Nexus Sawgrass in Sunrise offers the ultimate in access to jobs and retail within a quintessential Florida suburban community. The property is less than two miles from the 612-acre, Sawgrass International Corporate Park and is walking distance to the 2.3 million sf Sawgrass Mills Mall. It also has immediate access to the Sawgrass Expressway, I-75, and I-595 which have undergone over $2.2B in improvements allowing residents direct commutes to the major employment centers in Broward and Miami-Dade Counties.

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Under Contract
Nexus Sawgrass
501 Units
2903 NW 130th Avenue
Sunrise, FL  33323
Type: Conventional
Posted: 2/13/2019
Cushman & Wakefield is pleased to present for sale Nicollet Apartments, a 29-unit value-add opportunity in the vibrant neighborhood of Kingfield in Southwest Minneapolis.

The property is located just off I-35W on the bustling street of Nicollet Avenue. Nicollet Apartments’ prime location gives residents easy access to everything. The property is located minutes from Downtown, Uptown, Lake Harriet, Lake Calhoun, Midtown, and Lake Nokomis. Located in the thriving Kingfield neighborhood, the property is steps from locally acclaimed restaurants including Grand Café, Victor’s 1959 Café, Blackbird Café, Patisserie 46, Revival, Tap Society, and the Kingfield Farmers Market.

Nicollet Apartments is a true value-add opportunity with legitimate immediate upside. The unit-mix is predominantly three-bedrooms with large open floor plans and vinyl plank flooring in select units. The average in-place rent is currently 20% below comparable properties in the sub-market, allowing opportunistic investors the ability to capture their desired returns through implementing a “light” in-unit and common area renovation plan.

Nicollet Apartments is offered free and clear of existing financing and tours will begin the week of April 29th. Please contact Robert Dulin directly to set up a tour, which will be scheduled by appointment only.
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Under Contract
Nicollet Apartments
29 Units
4429 Nicollet Ave S
Minneapolis, MN  55419
Type: Conventional
HOU-DFW Four Property Portfolio (4 properties, 1,064 units)
Normandy Woods
268 Units
695 Normandy
Houston, TX  77015
Posted: 10/18/2018
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 1,546-unit Southeast Value-Add Portfolio located in high-growth submarkets throughout the Southeast. The portfolio represents the opportunity to immediately establish or supplement a strong investment platform in top markets. With prime locations and stable cash flows, these six assets offer an outstanding opportunity to invest in a proven value-add program and are poised for additional future rent growth.
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Under LOI
Southeast Value-Add 6 Portfolio (6 properties, 1,546 units)
North Creek
250 Units
8786 North Creek Boulevard
Southaven, MS  38671
Type: Conventional
Posted: 2/14/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 279-unit Nottingham apartment community located in Monroe, NC. Built in 3 Phases (1985, 1995, 2001), this asset offers investors a true value add initiative with all-original units trailing the central submarket by over $300. The property recently renovated a trial unit with vinyl wood flooring and has signed a lease $360 above the effective rental average for this floorplan. With no units under construction and only 262 units proposed, the area offers an opportune time to make significant strides in submarket where population & employment growth continues to thrive. Investors have the opportunity to increase annual NOI by 58% through multiple revenue streams including a market-driven interior upgrade initiative, trash income, water/sewer submetering, and washer/dryer appliance rentals.
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Nottingham
Offers Due:  Tuesday, June 25, 2019
279 Units
2613 Nottingham Lane
Monroe, NC  28110
Type: Conventional
Posted: 5/22/2019

Cushman & Wakefield is pleased to present a unique opportunity to obtain a ±3.73 net acre (±4.48 gross acre) multifamily development site located within the Desert Ridge Master Plan, adjacent to High Street and Desert Ridge Marketplace, at the northwest corner of 56th Street and the 101 Freeway, in Phoenix, Arizona, known as City North.

At completion, City North is planned to encompass 1.8 million square feet of corporate office, 2,885 residential units, 620 hotel rooms and up to 100,000 square feet of retail including new restaurant concepts.

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NWC 56th Street & 101 Freeway
Offers Due:  Friday, June 14, 2019
3.73 Acres
NWC 56th Street & 101 Freeway
Phoenix, AZ  85054
Type: Land
Posted: 4/30/2019

Cushman & Wakefield is pleased to present a unique opportunity to purchase a ±8.2 net acre multifamily development site located on a major intersection in Phoenix’s rapidly transforming Central Corridor. This rare, hard-corner site is located along the Valley Metro Light Rail, with a station adjacent to the property at the corner of Central Avenue and Indian School Road. Phoenix’s urban revival has transformed the Central Corridor into a 24-hour live-work-play environment with new residential and trendy restaurants, coffee houses and bars. In addition to the Light Rail, the area has been influenced by anchor cultural, educational, research, sports and healthcare institutions, including Arizona State University’s 15,000-student downtown campus and the 1.5 billion dollar Phoenix Biomedical Campus. The result is an unprecedented demand for urban living solutions in the Central Corridor.

The opportunity consists of four (4) parcels with a combined total of ±356,905 square feet of developable land on the northwest corner of Central Avenue and Indian School Road. This transit oriented development site is bound by three streets.

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Under Contract
NWC Central & Indian School Development Site
8.2 Acres
Central Avenue & Indian School Road
Phoenix, AZ
Type: Land
Posted: 8/31/2018

The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 137-unit Oak Ridge apartment community located in Largo, Florida. Built in 1974 of concrete block construction, Oak Ridge apartments offers new ownership the unique opportunity to purchase a rare majority Townhome-style community and capitalize on a proven existing renovation plan.

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Under LOI
Oak Ridge
137 Units
13333 Ridge Road
Largo, FL  33778
Posted: 4/26/2019