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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Under Contract
NWC 56th Street & 101 Freeway
3.73 Acres
NWC 56th Street & 101 Freeway
Phoenix, AZ  85054
Type: Land
Posted: 4/30/2019
The Cushman & Wakefield Ohio Multifamily Advisory Group is pleased to present the exclusive listing of the 10-acre Oakley Yard Land Site located in Cincinnati, Hamilton County, OH. This asset is situated in the thriving Oakley neighborhood of east Cincinnati. Oakley Yard offers an outstanding opportunity to invest and develop a prime Senior Living Site.
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Under Contract
Oakley Yard
10 Acres
2950 Robertson Ave
Cincinnati, OH  45209
Type: Land
Posted: 6/27/2019

Cushman & Wakefield/The Lund Company (“C&W/Lund”) is pleased to present Old Mill Apartments, a 248-unit apartment community located in Omaha, Nebraska. Old Mill has maintained stable occupancy and strong cash flow. The immediate area includes many retailers within walking distance and is located within a few blocks from Interstate I-680 allowing for easy access to the rest of the Omaha Metro. With a strong, diverse economy, Omaha continues to have very low unemployment and steady population growth.

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Old Mill Apartments
248 Units
10905 N Mill Court
Omaha, NE  68154
Type: Conventional
Posted: 6/1/2020
The Cushman & Wakefield Student Housing Capital Markets Team, in conjunction with the Gulf States Multifamily Team, is pleased to present the exclusive listing of the 40-unit, 200-bed, Old Row at Cloverdale student housing community located in Tuscaloosa, Alabama. This boutique, 2013 purpose-built asset, is located adjacent to the University of Alabama offering direct access to campus within a three minute walk. This investment offers a buyer the opportunity to acquire a quality turn-key asset that is pedestrian-to-campus, at a strong SEC University.
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Old Row at Cloverdale
40 Units | 200 Beds
1335 Cloverdale Road
Tuscaloosa, AL  35401
Type: Student
Posted: 7/22/2019

Cushman & Wakefield as exclusive marketing advisor, is pleased to present the opportunity to acquire Olive Glen 154 out of 276 units in Pompano Beach. Built in 1979, the property is situated on +/- 20 acres just west of I-95 and walking distance to the Pompano Beach Tri-Rail Station.

The 154-units include 5 studios; 90 one bedrooms and 59 two bedroom units. Of the 154 units 104 are located in two story garden units and 50 are located in one-story, villa fourplexes. The units are 100% occupied with almost $1.9 million in current effective income. The units offer significant upside potential. The average in place rent is $984 per unit. Improved surrounding communities such as Pompano Palms and Windsor Forest are achieving rents of $200-$300 higher per month. The Condo Association has over $450,000 in reserves. The owner of the 154-units has 2 out of the 3 Condo Association board seats that can be transferred to a new owner.

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Olive Glen
154 Units
3102 NW 3rd Avenue
Pompano Beach, FL  33064
Posted: 8/2/2019
Property is Located in a Designated Opportunity Zone With Tax Benefits

The Cushman & Wakefield Florida Multifamily Advisory Group is pleased to present the exclusive listing of the 189-unit Orlando on the Lake apartment community located in Orlando, Florida. Built in 1974, Orlando on the Lake offers an outstanding value-add opportunity that would result in the ability to raise effective rents $181 and earn a 7% return on investment after implementation of the proposed value-add plan.

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Orlando on the Lake
189 Units
701 S Ivey Lane
Orlando, FL  32811
Posted: 5/1/2019
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 236-unit Osprey Cove North apartment community located in Jacksonville, NC. The asset is strategically located two miles from Jacksonville’s 2nd largest employer, Air Station New River (18,100 jobs). The property has received a capital infusion of $1.06M over the past 3 years, prepping the community for a proven value-add initiative that could potentially yield 21% ROI and boost NOI by 82%. With 28 new deliveries since 2014 and nearly zero deliveries projected through 2023, the lack of a development pipeline will continue to drive rent increases as Jacksonville’s low-risk, stable economy.
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Osprey Cove North
Offers Due:  Wednesday, June 3, 2020
236 Units
118 Broadhusrt Rd
Jacksonville, NC  28540
Posted: 5/5/2020
Cushman & Wakefield, as exclusive marketing advisor, is pleased to present the opportunity to acquire and or joint venture on the Palm Beach Motors Site (the "Site"): a ±2.49-acre, generational development site located in the heart of Downtown West Palm Beach. Located directly along Okeechobee Boulevard, just steps from Rosemary Square, Clematis Street and the brand-new Virgin Brightline station, Palm Beach Motors allows developers the chance to redefine the city skyline with a Class-AAA, trophy development.
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Palm Beach Motors
   
915 S Dixie Highway
West Palm Beach, FL  33401
Posted: 1/9/2020

Cushman & Wakefield is pleased to present a unique opportunity to obtain a 99-year, prepaid ground lease for a ±1.9 net acre, mixed-use development block within the Novus Innovation Corridor at Arizona State University.  This rare opportunity is for Parcel 3A, located on the southwest corner of 6th Street and Rural Road, immediately north of the University Drive light rail station.

Novus Innovation Corridor is a 350-acre, mixed-use development planned for approximately 10 million square feet along Tempe Town Lake, including State Farm’s 2.1-million-square-foot Marina Heights regional office. Strategically integrated with Arizona State University (ASU), wholly on university-owned land, Novus is managed by master developer Catellus, a national leader in the development of urban mixed-use communities.

Parcel 3A is located within Phase III of the Novus Innovation Corridor.  Phase III features the initial portion of a multi-block, Main Street urban retail district called Novus Place.  Stretching from University Drive on the south to Rio Salado Parkway on the north, Novus Place will provide shopping, dining, entertainment and strolling opportunities in an environment that features enhanced paving, landscaping and other pedestrian amenities.  Phase III also includes one million square feet of mid-rise, Class A office space, urban residences, hotel rooms, and a diverse collection of retail shops and restaurants in a walkable, compact, urban setting just north of the University Drive Metro Light Rail station.

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Parcel 3A - Novus Innovation Corridor
1.9 Acres
SWC 6th Street & Rural Road
Tempe, AZ  85281
Type: Land
Posted: 9/3/2019

Cushman & Wakefield, as exclusive marketing advisor, is pleased to present the opportunity to acquire Parcel 3B at Las Olas Square, a 15,277-SF site at the epicenter of Downtown Fort Lauderdale. The property has 70 linear feet of frontage along Las Olas Boulevard – the main entertainment and business corridor of Downtown Fort Lauderdale – and is directly adjacent to two of the area’s most iconic developments, Las Olas Square and Icon Las Olas. The liberal RAC – CC zoning allows for a variety of uses including residential, hospitality, office and retail.

The site is one the last remaining undeveloped single parcels in Downtown Fort Lauderdale and offers incredible connectivity and walkability to all of the world-class amenities that the area has to offer. With multiple projects underway and planned for Fort Lauderdale, the city is in the midst of an urban revival as the CBD is poised to experience a significant increase in its residential population. Parcel 3B at Las Olas Square presents a compelling opportunity for developers to purchase a trophy development site in Fort Lauderdale’s urban core.
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Under Contract
Parcel 3B at Las Olas Square
   
Posted: 9/10/2018

Cushman & Wakefield is pleased to present a unique opportunity to obtain a long-term, prepaid ground lease for a ±1.0 net acre, high density multifamily development site within Arizona State University’s Novus Innovation Corridor. This rare opportunity is for Parcel 3F located on the southwest corner of 6th Street and Packard Drive, immediately north of the University Avenue Light Rail Transit Station.

Novus Innovation Corridor is a 350-acre master planned, mixed use development planned for approximately 10 million square feet along Tempe Town Lake, including State Farm's 2.1-million-square-foot Marina Heights regional office. Strategically integrated with Arizona State University (ASU), wholly on university-owned land, Novus is managed by master developer Catellus, a national leader in the development of urban mixed-use communities.

Novus is a unique opportunity to develop the 21st century urban community on an infill canvas in the center of one of the nation's largest and fastest growing metropolitan areas. The development will include a variety of urban neighborhoods that feature office, retail, hospitality and residential activities, creating the potential to bring more than 30,000 new jobs and 5,000 new residents to the thriving Tempe community.

Tempe, one of the Phoenix area’s most dynamic environments, features a large, educated workforce of over 200,000 people, a diverse mix of major employers including State Farm Insurance, First Solar, Amazon, Microsoft, ZipRecruiter, Chase Bank, Edward Jones, Medtronic and Wells Fargo among others. In addition, Tempe offers major events at venues such asvASU Gammage, Tempe Town Lake, Tempe Center for the Arts and at the various ASU athletic facilities. Tempe is also recognized as being the most bikable and walkable community in the Phoenix area.

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Under Contract
Parcel 3F - Novus Innovation Corridor
1 Acres
NWC 6th Street & Packard Drive
Tempe, AZ
Type: Land
Posted: 9/23/2018

Cushman & Wakefield, as exclusive advisor, is pleased to present The Park at Cortona, a 220-unit value-add multifamily asset located in Lakeland, Florida. Constructed in 1989, the lakefront property features 3-story walk-up buildings with 8-foot ceilings on the first and second floors and vaulted ceilings on the top floors, and an average unit size of 794 square feet. The Park at Cortona has been well-maintained with over $2.3 million in recent capital improvements by the seller and represents a tremendous opportunity for increased cash flow generated through the continuation of an in-unit renovation program. Additional enhancement potential can be realized through development of the 9.16-acre Phase II land planned for 160 additional units.

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Under Contract
Park at Cortona
220 Units
5233 US 98 N
Lakeland, FL  33809
Park MacArthur
136 Units
4500 N MacArthur Blvd
Warr Acres, OK  73122
Type: Conventional
Posted: 2/3/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 324-unit Park Place apartment community located in Louisville, Jefferson County, KY. Due to steady rent and population growth, Louisville will continue to see new developments coming to the area, assuring continued future job growth. Effective rents for the Louisville market have grown by more than 28% since 2010 and multifamily development is very limited. These supply demand dynamics will translate to compelling growth which can be enhanced by elevating the property’s interior finishes and amenity package to meet market demand. Park Place is an excellent opportunity to acquire a true value-add investment.
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Park Place
324 Units
7500 Cranfill Way
Louisville, KY  40214
Type: Conventional
Posted: 10/15/2019

Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present The Langley Apartments Portfolio, a one-of-a-kind portfolio providing significant scale in Central & Southwestern Virginia totaling 720 total apartment units. The Portfolio’s limited CapEx needs, significant operational upside and value-add upside will drive strong investor returns while providing meaningful economies of scale in one of Virginia’s most stable corridors. The Portfolio offers value-add upside with a combination of in-unit renovations and washer-dryer installation, allowing a new owner to realize significant rental premiums. The Properties also have significant gaps with primary competitors and enhancing unit interiors will provide a competitive advantage while still placing rent levels comfortably below nearby properties. Both the Lynchburg and Roanoke markets offer stable demand drivers and employment sectors which have led to historic rent growth and low vacancy. The Properties can be acquired as individual assets, mini-portfolios or as a whole portfolio to provide maximum flexibility.

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The Langley Apartments Portfolio (4 properties, 444 units)
Park Place
129 Units
2404 Tate Springs Road
Lynchburg, VA  24501
Type: Conventional
Posted: 3/27/2020

290 Residences, Commercial Garage & Prime Retail

Cushman & Wakefield, as exclusive advisor, is pleased to present the extraordinary opportunity to acquire Park-Line Palm Beaches (the “Property”) – a trophy 26-story residential high-rise developed as a part of the evolutionary Brightline Trains and overlooking the new Rosemary Square, the Atlantic Ocean, Downtown West Palm Beach, and Palm Beach's newest multi-tenant office building, 360 Rosemary. This coveted and irreplaceable asset opened in December 2018 and is comprised of 290 luxury residences, 790 parking spaces, of which 442 are master-leased to Brightline, and 13,074 square feet of ground floor, high-value retail. The property has exceptional onsite and neighborhood amenities from a 12th floor recreation deck with Intracoastal and Atlantic Ocean views to immediate walkability to Clematis Street, Rosemary Square, the newest Class-A offices in West Palm Beach, and direct walk-on walk-off ability to Brightline.

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Park-Line Palm Beaches
290 Units
591 Evernia Street
West Palm Beach, FL  33401
Posted: 10/9/2019
The Cushman & Wakefield Ohio Multifamily Advisory Group is pleased to present the exclusive listing of two land sites totaling 13 acres located in Cincinnati, Hamilton County, OH. This asset is situated in the suburb of Fairfield.
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Patterson Place
13 Acres
5085 Pleasant Ave.
Fairfield, OH  45014
Type: Land
Posted: 6/27/2019

Originally constructed as a partial LIHTC property, Pendleton Place Apartments is a 192-unit community in the northern suburb of Indianapolis. The property was built in three phases: Phase I 1999, Phase II 2000 and Phase III 2018. The owner is in the process of removing the income restrictions that are currently in place for 88 units in Phase I and will be completed prior to closing. The new owner will be able to immediately lease all units with no income restrictions.

The aquisition of Pendleton Place represents an opportunity that buyers covet: 1999 / 2000 built product with low in place rents (in Phase I and II).

Located in a high income area with household incomes over $75k, the City of Pendleton offers its residents to oppoortunity to live near high wage jobs, upscale retail and restaurants and has a sought after school system.

Pendleton Place is offered Free & Clear.

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Under Contract
Pendleton Place
192 Units
101 Shamrock Cr.
Pendleton, IN  46064
Posted: 1/21/2020

The Cushman & Wakefield St. Louis Capital Market's Team is pleased to offer for sale the 100% fee simple interest in the Pennant Building located at 1701 Locust Street in St. Louis, MO. The building is a premier multifamily/loft redevelopment opportunity positioned in the heart of Downtown St. Louis' "Loft District". As-is, the building contains 76,120 square feet consisting of four stories and a basement level with an additional 8,883 SF penthouse approved. A preliminary redevelopment plan includes 53 multifamily units, four live/work studios, and 36 garage parking spaces. A full set of plans has been approved and will be provided to the buyer.

Fueled by public and private investments, St. Louis is in the midst of a renaissance that is reigniting the growth and vibrancy of the downtown core. Over $8 billion has been invested in downtown since 2000 with $3 billion in development underway or proposed. Among these developments is St. Louis' highly anticipated MLS expansion team's proposed stadium, which is expected to drive significant investments in infrastructure in the surrounding area. The Pennant Building is located just three blocks from the MLS site, offering an exceptionally rare opportunity to acquire an historic building in an area poised for significant growth and long-term appreciation.

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Pennant Building
   
1701 Locust Street
St. Louis, MO  63103
Posted: 5/20/2019
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 353-unit Peppertree apartment community located in North Charleston, South Carolina. The asset is situated off Dorchester Road in close proximity to the top employment drivers in North Charleston where large investments have continually been made to expand and strengthen the Charleston job market. Built in 1983/1989, Peppertree offers an outstanding opportunity to see a 25% Return on Investment by completing the in-place value-add program, with 83% of units left to renovate generating proven premiums of $160. Peppertree also offers potential investors attractive assumable in-place agency financing with a low interest rate.
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Under LOI
Peppertree
353 Units
4640 Forest Hills Drive
North Charleston, SC  29418
Type: Conventional
Posted: 3/11/2020
Cushman & Wakefield’s Northern California Multifamily Advisory Group is pleased to present the exclusive opportunity to acquire the 4.48-acre SMART adjacent TOD site in downtown Petaluma, California (the “Property”). This premium development site is physically connected to the downtown Sonoma Marin Area Rail Transit (“SMART”) station as well as the Petaluma Transit Mall. The Property represents the rare chance to develop a legacy project and define the new transit district of a city while capitalizing on the increased renter demand the SMART service is anticipated to generate. The Property is one of only 3 catalyst sites in the TOD Master Plan and approximately 500 feet away from the Petaluma waterfront with all of downtown’s various amenities. This charming North Bay city, well known for its inviting and walkable downtown, enjoys an attractiveness to Bay Area renters who seek a more balanced quality of life and cost of living. As a result, Petaluma is experiencing solid multifamily fundamentals, with both annual effective rent growth and occupancy up considerably over the previous 2 years.
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Under Contract
Petaluma SMART Development
   
315 D Street
Petaluma, CA
Posted: 4/24/2017

Cushman & Wakefield, as exclusive advisor, is pleased to present the LN Development Tallahassee Value-Add Portfolio, a 426-unit multifamily opportunity of three properties strategically located throughout Tallahassee, Florida.

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Under Contract
Tallahassee Value-Add Portfolio (3 properties, 426 units)
Planter's Crossing
104 Units
1447 Stone Rd.
Tallahassee, FL  32303
Posted: 1/21/2020

Cushman & Wakefield, as exclusive marketing advisor, is pleased to present the Port Royale Apartments, a 553-unit apartment community located along the Intracoastal Waterway in Fort Lauderdale, Florida. This exclusive waterfront investment opportunity spans approximately 22 acres and features a midrise building with 161-units nestled along 380 feet of water frontage along with 392 garden style units graciously spread across 16 acres. The Port Royale Apartments were developed between 1988-1990 and today are part of an HOA which also includes 230 private condominiums in a single 20-story tower, 555 luxury rental units developed in 2017 and a 64-slip private marina. The 22 acre site is entitled for a total of 845 units, thus there remains the opportunity to develop an additional 292 units. To date, roughly 80% of the Property’s units have been renovated achieving average rent increases of $220. Port Royale represents a very unique investment opportunity in which a buyer can implement several complementary investment strategies to achieve outsized returns.

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Under LOI
Port Royale
553 Units
3101 Port Royale Boulevard
Fort Lauderdale, FL  33308
Posted: 1/21/2020
Cushman & Wakefield, as exclusive marketing advisor, is pleased to offer for sale Princeton 248 a 190-unit fully approved development site in Princeton, a growing submarket in the South Dade area of Miami. The development site sits on 5.6 acres or 243,789 square feet. The site is fully entitled totaling 190 units and is divided into two phases. Phase 1 will have 62 Units (Four 2-story garden-style buildings and nine townhouses) while Phase 2 will have 128 units (within two 5 and 3-story buildings). The site is located near the Bus Rapid Transits System. The $243 million system will create the county’s first “rapid-transit” bus system, using dedicated lanes with stations and vehicles designed to mimic the convenience of rail service. The 20-mile system connecting the Dadeland South Metrorail station to Florida City will have a bus stop located at SW 248 Street and Dixie Highway. The Bus Rapid Transit (BRT) system could be functional by 2022. Click here for more details.

Click here to view more information on project plans.

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Princeton 248
5.6 Acres
NW Corner of SW 248 St & SW 128 Street
Princeton, FL  33032
Type: Land
Posted: 9/10/2019