The San Antonio Legacy 7 Portfolio is an exceptional opportunity to acquire well located and meticulously maintained value add assets in the San Antonio market. These properties have been owned and operated as an "all bills paid" portfolio by the current owner for over 36 years. The operating philosophy has been to keep the properties in top condition and fully occupied with a well-qualified resident profile. Rental rates are well below the market and new ownership can potentially increase income dramatically with value-add improvements and operational efficiencies.
All properties are located in mature infill locations that are difficult, if not impossible, to replicate, within Loop 410. Six of the seven properties have north side locations. Each asset has a history of high occupancy and none have been "upgraded" other than regular replacements.
This portfolio of 760 units represents a tremendous opportunity for investors to acquire a well-positioned and operationally efficient portfolio with a clear value add strategy. It could take years to assemble a similar group of properties with equivalent locations through individual acquisitions. These assets are unencumbered by existing debt and can be purchased individually or as a portfolio.
Cushman & Wakefield, as exclusive advisor, is pleased to present the extraordinary opportunity to acquire Icon Las Olas – an iconic 44-story residential high-rise overlooking historic Las Olas Boulevard, the Atlantic Ocean, downtown Fort Lauderdale and the New River.This coveted and irreplaceable asset opened in October 2017, and is comprised of 272 luxury residences and three top-rated restaurants: Etaru Japanese Bar + Grill, Salt Seven Modern Eatery & Lounge and IT! Italy Café.
Rising 44 stories, Icon is the tallest building in Fort Lauderdale. Suspended atop the skyline and nestled between Las Olas’ preeminent high street and the New River, Icon presents unobstructed views of the ocean, downtown and Las Olas Boulevard. An asset of this awe-inspiring height, condominium quality finish, architecture and irreplaceable location, make it a rare acquisition opportunity and the premier asset of an investment portfolio for generations as it commands the center of a major downtown.
Built with the most discerning residents in mind, Icon Las Olas sets a new standard of excellence. The building’s unique curvature, glass façade, and sheer height evoke feelings of opulence. All units feature floor-to-ceiling glass, interiors designed by internationally recognized Steven G., and exceptional interior finishes that include built-in Sub Zero and Bosch appliances. Average unit sizes are a remarkable 1,516 square feet, dwarfing the market average by over fifty percent.
Icon Las Olas has performed in record setting fashion as the market enthusiastically responded to the ultra-luxury niche. The property has achieved stabilization in just over 12 months while boasting an affluent tenant base with the highest household incomes in South Florida, placing the rent to income ratios comfortably below market norms.
Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire the 100% fee simple interest in Idora Apartments (the "Property" or "Idora"), a 33-unit luxury midrise apartment community located in Oakland, California. Situated in Oakland’s trendy Temescal neighborhood, the property provides the rare combination of modern design, a core location and instant transit access.
Completed in 2017, Idora was constructed to condominium-quality standards and has a condominium map in-place. The Property is a five story luxury apartment community that has a favorable unit mix of 14 one-bedroom and 19 two-bedroom units, in addition to approximately 2,400 square feet of ground floor retail. Idora is located in a thriving Oakland submarket which provides residents easy access to the San Francisco Bay Area’s economic and lifestyle offerings that make it one the world’s premier places to work and play.
Idora Apartments is offered in conjunction with the 50-units located at 777 Broadway located in downtown’s Old Oakland neighborhood. These two properties are available individually or as a portfolio, providing immediate scale.
The Cushman & Wakefield Multifamily Advisory Group is pleased to present 6484 Indian Creek Drive, a waterfont land lease opportunity on Miami Beach. The land totals +/- 53,000 square feet. Currently on the site there is a 102-unit coop. The property was built in 1957. The land lease expires June 30, 2055 (almost 37 years left). The land lease totals approximately $65,000 per year in net income to the land lease holder.
Cushman & Wakefield is pleased to offer JEFFERSON CHANDLER, a brand new 283-unit Class "A", gardenstyle luxury rental community located in Chandler, Arizona near Chandler Fashion Center, with easy access to restaurants, shopping, entertainment and recreation. Jefferson Chandler features a mix of studio, one, two and three bedroom floor plans and superior amenities. Nearby are top-rated schools, medical centers, parks,movie theaters, golf courses, major employers and office parks, and many shopping and dining options. The property’s location is 1 mile away from the Loop 101/Loop 202 freeway interchange, connecting residents to the rest of the Metro Phoenix area.
Completed in 2018 by JPI, a premier national multifamily developer, Jefferson Chandler combines a high quality suburban location with a high level exterior design, a superior amenity package, top-of-the-line interior finishes and excellent floor plans to create a true best-in-class multifamily community.
Residents can take advantage of Jefferson Chandler’s resort-style swimming pool, poolside cabana, outdoor firepit, grilling stations with lounge seating, putting green and ramada, clubhouse with social business hub, game room with billiards, high-tech fitness facility, yoga studio, storage units, off-leash pet park and pet spa. Jefferson Chandler is an elevator-served (4-story building only), gated community with covered parking, available attached/detached garages and open spaces for guest parking.
The extensive amenities offered residents are matched by high level interior finishes provided in each individual residence. Jefferson Chandler’s spacious floor plans feature 9-foot ceilings, designer-inspired interior color schemes, wood-look plank flooring, quartz countertops in kitchens and baths, chef-inspired kitchens with stainless steel appliances, undermount sinks, kitchen backsplashes, washers/dryers and exterior storage space. Select units include dual vanities in bathrooms, walk-in showers, kitchen islands, walk-in closets and private patios/balconies with french doors.
Cushman & Wakefield, as exclusive advisor, is pleased to present Lakes at North Port, located in North Port, Florida. The asset is a 312-unit value-add, multifamily community built in 2000 of tunnel form concrete block construction.
Lakes at North Port offers a significant value-add opportunity through unit renovations, and the ability to achieve $268 average rent premiums increasing effective rental income by 22%.
The community is just over a 30-minute commute to Downtown Sarasota and Fort Myers encompassing over 700,000 jobs.
Cushman & Wakefield is pleased to present for sale, Lofts on 4th Apartments. Lofts on 4th, located in the historic Lowertown Neighborhood of St. Paul, offers highly desirable loft-style apartments steps away from Union Depot, St. Paul Farmers Market, CHS Field, Mears Park, St. Paul CBD and a wide variety of landmark restaurants and nightlife.
Lowertown is St. Paul’s highest profile urban neighborhood and its multifamily properties consistently perform at 98% occupancy or better. Additionally, the current average rent for the downtown St. Paul submarket is up 5.2% year-over-year bringing that figure to a new high of $1,535/month. This “Lofts on 4th” offering presents investors the rare opportunity to acquire an irreplaceable Lowertown asset with tremendous upside potential through in-unit and common area renovations.
Lofts on 4th features 24 loft-style apartments with 14’-20’ ceilings, exposed brick and large windows in select units. The property also includes 4 basement art studios and 2 street level retail tenants (Lowertown Wine & Spirits and Master Framers). The property is offered free and clear of existing financing.
Cushman & Wakefield, as exclusive advisor, is pleased to present Mezzo of Tampa Palms, a 340-unit value-add multifamily asset located in Tampa, Florida. Constructed in 1992, the property features 3-story walk-up buildings with large units averaging 1,193 square feet. The seller has invested approximately $3.4 million in capital improvements consisting of extensive exterior renovations, amenity enhancements and partial unit upgrades.