The Cushman & Wakefield Sunbelt Multifamily Advisory Group and Larry G. Schedler & Associates, Inc. are pleased to present the exclusive listing of the 134-unit Teakwood Village apartment community located in Baton Rouge, LA. Situated in a thriving metro area, renowned for its prestigious healthcare network and ongoing corporate growth, the property benefits from an abundance of job opportunities, favorable demographics and growing single family housing market. The East Baton Rouge Parish is experiencing a constrained multifamily pipeline with limited future supply as there are currently zero properties under construction within a 5-mile radius of Teakwood Village. Built in 1975, with 52 renovated units (39% of the property), Teakwood Village represents an outstanding opportunity to invest in a textbook value-add asset with the potential for significant future rent growth.
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Teakwood Village
134 Units
515 Gardere Lane
Baton Rouge, LA  70820
Posted: 7/24/2024

Cushman & Wakefield is pleased to present you with the opportunity to purchase 29-35 Temple Place (“Temple Place Suites”), which is a 26,600 square foot, 6-story, mixed-use (residential over retail), elevator building, located in the heart of downtown Boston (just feet from Boston Common).

Temple Place Suites is located in Boston’s vibrant Downtown Crossing neighborhood, which is surrounded by, and walking distance to, the Financial District, the Theater District, the Seaport, Beacon Hill, Back Bay, Newbury Street and Boston Common. The area is home to many daytime & evening tourist attractions, amenities, employers, collages, and open green spaces, including, to name just a few, hot new celebrity owned restaurants, cafes, a speakeasy, shops, pop-up art exhibits, the new WNDR Museum, and many more popular destinations. With a Walking Score of 98%, and multiple transit T stations (Orange, Green, Red) just a few feet from the building, its location is unrivaled.

Temple Place Suites is designated with a Lodging License for 48 units (although the building is currently configured with only 42), and the current owner operates the residential portion (floors 2 through 6) as short-term, furnished, Airbnb style, rentals. There is a significant Value-Add Opportunity for the next owner to grow revenue by: (i) increasing the room count up to the permitted 48 units (this alone represents a 14.3% increase), (ii) increasing the average unit rental rate which is significantly below market, and (iii) potential additional density increase (current FAR is 8.0). The commercial portion of the building (floors 1 and basement) is fully occupied by one tenant (a micro-brewery, restaurant, and taproom), which has a long-term, Triple-Net Lease, through 2028.

Temple Place Suites is available on an “as-is” basis and is being offered without a formal asking price. Upon receipt of a signed confidentiality agreement, qualified investors will be provided with the offering materials and access to additional due diligence information. Once investors have had an opportunity to review the offering materials and tour the property, Cushman & Wakefield will schedule a “Call for Offers”.

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Temple Place Suites
48 Beds
29-35 Temple Place
Boston, MA  02110
Type:  Multifamily & Retail
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Test Retail
   
1234 Sesame Street
New York, NY
Type:  Shopping Center
Posted: 1/2/2024
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 372-unit portfolio of Kessler Point, The Arbors, and Azure Cove, located in Garden City, Chatham County, Georgia. Built in 1987 & 1990, these properties represent outstanding value-add opportunities that have been well-maintained, with over $5.98M spent on capital expenditures between previous and current ownership and $261 average-earned renovation premiums. These opportunities are accompanied by the Hyundai EV plant delivery in Q4 2024, bringing 8,500 direct jobs to the region and marks the largest economic development in Georgia history. The development has served as a catalyst for 18k additional job announcements and a predicted 4.7x multiplier effect in coming years: a 40K total job growth impact.
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Garden City 372 Portfolio (3 properties, 372 units)
The Arbors
108 Units
4035 Kessler Avenue
Garden City, GA  31408
Type:  Multifamily
Posted: 4/24/2024
Under Contract
The Block on A
   
147 W Fourth Street
South Boston, MA  02127
Type:  Residential

The Cushman & Wakefield Mid-Atlantic Single-Family Advisory Group is pleased to present The Cobham Portfolio located in Baltimore, MD. The Offering is comprised of 11 single-family rental units located throughout Baltimore City. The Portfolio is well positioned for an acute value-add business plan executing a leasing strategy to attract renters receiving housing vouchers and rental subsidies. Residents are afforded outstanding access to significant employers, education institutions, retailers, dining and entertainment in their respective neighborhoods. Major employers near the clusters in the portfolio include Johns Hopkins University (25,000 employees), Johns Hopkins Health System (19,340 employees) and MedStar Health System (6,027 employees).

The Cobham Portfolio contains 11 Baltimore City homes offering an investor the opportunity to acquire a value-add portfolio with ample room to increase rents, following light interior renovations, and implementing a voucher-driven leasing strategy, with market rents averaging $1,663 across the eleven properties.

Emerging as one of the most attractive asset classes to both institutional and private investors, Single-Family Rentals offer high yields and strong occupancy rates. High-Performance Metrics for Single-Family Rentals include an average median rent of $1,700 per month for three-bedroom homes and Y-O-Y rent increase of almost 10%. Baltimore City Housing Voucher Rents consistently outperform comparable market rate levels..

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The Cobham Single-Family Portfolio
11 Units
522 E. 43rd Street
Baltimore, MD  21212
Type:  Single-family
Posted: 9/30/2022
The Coca-Cola Building
   
2525 Kirk Avenue
Baltimore, MD  21218
Type:  Land
Posted: 9/26/2022
The sale of The Cottages on Campus will take place through a secure online open bid web portal on the Ten-X.com web platform. Please click the "Links" tab below to navigate to the Ten-X website for more details and all data room materials. The Auction is scheduled to begin on December 2nd, 2024, and conclude on December 4th, 2024.
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The Cottages on Campus
19 Units | 62 Beds
948 & 950 Wayne Ave
Indiana, PA  15701
Type:  Multifamily
Posted: 10/17/2024
The Cottages Portfolio
   
4703 Goodwin Grv
Colorado Springs, CO  80916
Type:  Other
Posted: 9/10/2024

The Cushman & Wakefield Land Advisory Group is pleased to present The Coves at Lake Wylie, the last remaining large scale development opportunity within The Palisades master planned development. The site will be delivered at closing fully permitted for a 499-lot lakefront residential community, with approval of the Land Disturbance Permit (LDP) expected in Q3 of 2024.

Key Features Include:

  • Meticulously designed with a diverse product mix: 167 (50’) lots, 188 (40’) lots, 10 lakefront lots, 134 (24’ & 26’) townhome lots, and the opportunity to build an unmatched 3-acre lakefront amenity
  • Mitigated offsite improvements
  • The Palisades offers a wider range of amenities than any other neighborhood in Charlotte, as residents have access to a Jack Nicklaus designed golf course, sports complex, equestrian center, and more, all while being on the second largest lake in the Charlotte area
  • Convenient access to top schools, national retailers, grocers, fast-casual, & local favorite restaurants, all while only a 30-minute drive to Charlotte’s city center

The Coves at Lake Wylie is truly a unique homebuilding opportunity and one of the last of its scale still available in this explosive-growth city.

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Under LOI
The Coves at Lake Wylie
129.67 Acres
17440 Landover Rd
Charlotte, NC  27705
Posted: 6/5/2024
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 253-unit The DeSoto apartment community located in Horn Lake, MS. This asset is situated in the highly desired DeSoto County submarket that has seen over 7.22% rent growth since Q3 2023 and 5% population growth since 2020. Built in 1991, The DeSoto provides an exceptional investment opportunity with proven value-add potential, featuring in-place rent premiums in a high rent growth market with substantial barriers to entry.
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The DeSoto
Offers Due:  Tuesday, November 12, 2024
253 Units
1000 Sutton Place
Horn Lake, MS  38637
Type:  Multifamily
Posted: 10/1/2024
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 238-unit The Dominion apartment community located in Conroe, TX. This asset is situated in the rapidly expanding Conroe area in north Houston. Built in 2003, The Dominion represents an outstanding opportunity to invest in a property boasting an attractive, full-term interest only, assumable loan, complemented by classic units poised for enhancement. Additionally, its prime location in a high-income area further augments its investment appeal, promising lucrative rent increases.
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The Dominion
238 Units
15596 Interstate 45 South
Conroe, TX  77384
Posted: 7/8/2024

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Fairways and The Paddock Club, a premier 576-unit multifamily portfolio in Columbia, SC. These properties are ideally located with easy access to major employment centers and lifestyle amenities, offering residents a convenient commute to Columbia’s top 28 employers within a 30 minute drive. The surrounding area features strong market fundamentals, including favorable demographics, a limited supply pipeline, and projected rent growth of 20% through 2029.

Built in 1992 and 1989/1996, both assets offer new ownership the unique opportunity to acquire institutionally owned and consistently well-maintained assets that have been held for over 30 years. With a market-supported value-add program, the portfolio is well-positioned to capitalize on significant upside potential, achieving $285-$400 premiums by bridging the rental gap with market competitors.

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The Fairways & The Paddock Club (2 properties, 576 units)
The Fairways
Offers Due:  Wednesday, November 13, 2024
240 Units
350 Powell Road
Columbia, SC  29203
Type:  Multifamily
Posted: 10/11/2024
The Cushman & Wakefield Student Housing Capital Markets Group, in conjunction with the Alabama Multifamily Advisory Group, is pleased to present the exclusive listing of The Hub at Auburn, located in Auburn, AL. This 96-unit and 368-bed student housing asset offers excellent location and visibility off Shug Jordan Parkway, providing residents direct access to Auburn University, a Power Four, Tier One, and state-ranked school system. Built in 1989 and renovated in 2020 and 2024, The Hub at Auburn is an exceptional opportunity to invest in a growing university market with a strong physical plant at a below replacement cost basis.
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The HUB at Auburn
Offers Due:  Friday, October 25, 2024
96 Units | 368 Beds
626 Shug Jordan Parkway
Auburn, AL  36832
Posted: 9/16/2024

The Illiana is a 32-unit, boutique elevator multifamily property located in one of the fastest growing submarkets in the Midwest. Offering efficient two-bedroom floor plans and covered parking, The Illiana is positioned to capture demand from a growing population base of high income renters looking for Class A finishes with little newly built rental product in the market.

The Illiana was developed in 2020, delivering unmatched apartment quality to Whiting. Demand for this product is demonstrated by the property being 100% occupied today. The Illiana attracts residents looking for immediate access to Chicago (24-minute drive, 40-minute train), coupled with the high quality of life and lower cost of living in Northwest Indiana.

CHICAGO LAKEFRONT SUBURB WITH ATTAINABLE COST OF LIVING

a. Whiting is strategically positioned along Lake Michigan, offering residents a high quality of life with a more affordable cost of living than other Chicago suburbs

b. 18.4% more affordable than Chicago

c. Less than 30-minute commute to Chicago

d. South Shore Line Expansion - Recently completed $650m rail transit project

ABILITY TO CAPTURE UPSIDE WITH LONG-TERM RENT GROWTH POTENTIAL

a. In-place master lease presents long-term opportunity to increase rents on 38% of units - currently 34% below in-place rents for market units

b. Best Product in a Growing Market – Despite Lake County growing 2.8% since 2019 (2x the national and Indiana average), there is a lack of new construction apartments with just 1% of inventory built after 2010

c. Strong Population Base - Current tenants at The Illiana have an median HH Income of $82k

d. North Lake County’s thriving market dynamics continue into Q1 2024 with Class A rent growth at 13% YOY and occupancy at 98.3%

e. 100% Occupied

TIF

a. 100% tax abatement through 2031 creates tax certainty for foreseeable future

NORTHWEST INDIANA - BUSINESS FRIENDLY ENVIRONMENT

a. Indiana’s pro-business environment actively encourages corporate expansions and relocations

b. #1 State in the Midwest for doing business

c. #1 State to start a business in the US according to Forbes

d. 37 foreign-owned businesses across 17 countries plan to invest $20.6Bn+ and create 8,500+ jobs in Indiana with average wages of $83,000+

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Under LOI
The Illiana
32 Units
1200 119th Street
Whiting, IN  46394
Type:  Multifamily
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Kelston, a 310-unit apartment community located in Charlotte, NC. The asset is conveniently situated within a short 10–20-minute drive to Charlotte’s most prominent employers and amenities. The property benefits from its unparalleled access to the proposed LYNX Silver Line light rail and the Eastland Mall redevelopment site which is expected to deliver through Fall 2024 to end of 2025. Built in 1986, The Kelston represents an outstanding opportunity to invest in the rapidly expanding East Charlotte submarket with a highly desirable demographic pool of sizable average household incomes ($60K), young renter base (33 avg age), and continuous market rent growth. Upon completion of the value-add program, new ownership has the opportunity to renovate units to a Class A level and further bridge the gap between the property and top comparable product ($300+ rental headroom).
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Under Contract
The Kelston
310 Units
1207 Kelston Place
Charlotte, NC  28212
Type:  Multifamily
Posted: 8/8/2024
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 38.69-acre The Landing at Beaver Creek Multifamily Development Site in Powell (Knoxville), TN. The site is fully entitled and designed for 226 units, with plans calling for a mix of garden apartment and rental townhome product. Land disturbance and NPDES permits have already been pulled. Powell is a quaint suburb in north Knoxville with all the conveniences of the city. K-12 public schools, grocery options, and abundant national retailers are all within an easy 5-minute drive of the site. Additionally, Downtown Knoxville and the University of Tennessee are reachable within a quick 15-minute drive, making the site a great location for students and downtown employees to call home in the future. The Landing at Beaver Creek Multifamily Development Site offers an exciting opportunity to expediently break ground in one of the strongest secondary markets in the Southeast.
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The Landing at Beaver Creek
38.69 Acres
W Beaver Creek Drive
Powell, TN  37849
Type:  Land
Posted: 10/10/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group and Larry G. Schedler & Associates, Inc. are pleased to present the exclusive listing of the 161-unit The Local on Severn apartment community located in New Orleans’ most affluent neighborhood. This asset is situated off of I-10, just before Lake Pontchartrain and adjacent to Lakeside Shopping Center, giving residents prime access to major New Orleans, Metairie, Slidell and Covington employers. With minimal supply in the area, the property is primed for future rent growth. Built in 1974 and renovated in 2018, The Local on Severn represents an outstanding opportunity to invest in a value-add opportunity in a prime location with strong submarket fundamentals.
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The Local on Severn
161 Units
3409 Severn Avenue
Metairie, LA  70002
Posted: 4/25/2024

The Malt House is a 118-unit, boutique elevator multifamily property located in one of the fastest growing submarkets of downtown Milwaukee. The Malt House is positioned to capture demand from young urban renters, offering attainable rents relative to new-construction product with all the perks of Class A living - a model that is impossible to replicate today.

The Malt House was redeveloped in 2021, delivering an unmatched product in the rental market with an industrial aesthetic, luxury finishes and robust amenities. The property is positioned for more operationally focused ownership, as the market continues to show demand for this product type, with rents growing 6.8% on new leases and 5.3% on renewals since September.

EXTENSIVE RENOVATION OFFERED WELL BELOW REPLACEMENT COST

a. Current ownership underwent a 5-year conversion project, delivering the property to market in 2021

b. Unique industrial aesthetic with Class-A unit finishes including stainless steel appliances, white shaker cabinets, granite countertops, and white subway tile backsplash

c. Robust amenity package including atrium, co-working lounge, game room, fitness center, movie theatre room and rooftop deck

UNIQUE RENTAL PRODUCT CATERING TO YOUNG PROFESSIONAL TENANT BASE LOOKING FOR HIGH-END LIVING AT ATTAINABLE RENTS

a. Attainable rents offered at a 15% discount to Class A product in the submarket

b. Strong recent lease trade outs – 6.8% on new leases and 5.3% on renewals since September

c. Large floor plans – Average unit size 19% larger than comp set average

d. Top tier amenities comparable to new-construction product

ASSET IMMEDIATELY ADJACENT TO MASSIVE DEER DISTRICT PUD AND TOP DOWNTOWN MILWAUKEE DESTINATIONS

a. Deer District Development (since 2019) – 1.3b sf of entertainment, 1,000 residential units, 600 hotel keys and 200k sf of office space

b. Part of Brewery District Redevelopment – $300m investment across 16 repurposed historically significant buildings totaling 850k sf

c. Accessible to Marquette Campus (11,600 students), Iron District development ($160m in 2025), and Lake Michigan

MILWAUKEE EMPLOYERS

a. Northwestern Mutual - $1b campus across two buildings and 5,000 employees

b. Six Fortune 500 HQs and additional six Fortune 1000 HQs

c. Walking distance to over 87,000 professionals in Milwaukee CBD

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Under LOI
The Malt House
118 Units
1009 W Juneau Ave
Milwaukee, WI  53233
Type:  Multifamily
Posted: 2/13/2024
The Cushman & Wakefield Student Housing Capital Markets Team, in partnership with the Cushman & Wakefield Pyramid Brokerage Company Team, is pleased to present the exclusive listing of The Meadows of Geneseo, a long-standing staple of SUNY Geneseo’s off-campus student housing community. Constructed in 1989 and renovated in 2022-23, The Meadows offers 90 spacious townhouse and ranch-style units, totaling 260 bedrooms. Conveniently located just across from the SUNY Geneseo campus, it provides students with a short walk to campus while offering the privacy and independence of off-campus living.
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The Meadows of Geneseo
90 Units | 260 Beds
8 Hillside Dr
Geneseo, NY  14454
Posted: 9/11/2024

The Florida Multifamily Group of Cushman & Wakefield is proud to present the Morgan, a 304 unit value-add opportunity in St. Petersburg, FL. The property boasts some of the largest floor plans in the submarket and is a prime candidate for a renovation program as 100% of the units have ability to be further upgraded to luxury-grade finish levels and achieve over a $150 renovation premium and over a $300 increase taking into account the current loss-to-lease. The property is situated adjacent to a Publix anchored shopping center and conveniently located just off Interstate-275 and the Sunshine Skyway bridge with convenient access to the Skyway Marina district, gulf beaches, downtown St. Petersburg and Bradenton/Sarasota..

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The Morgan
304 Units
2680 54th Avenue South
St. Petersburg, FL  33712
Type:  Multifamily
Posted: 9/19/2024
The Cushman & Wakefield Student Housing Capital Markets Team is pleased to present the exclusive listing of The Nest, a 270-unit, 784-bed student housing apartment community, located in Lawrence, Kansas. Built in 2019, The Nest is situated in a highly amenitized location with property shuttle service to the University of Kansas. The Nest presents an exceptional investment opportunity being a true standout, with significant appeal due to its exclusive status as the sole cottage-style product in the market, with leasing that outperforms its competition.
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Under Contract
The Nest
270 Units | 784 Beds
3345 Magnolia Circle
Lawrence, KS  66046

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The One at Fayetteville, a premier 264-unit multifamily asset located in Fayetteville, NC. Built in 2024, this Class-A community grants residents access to top-of-market amenities and finishes among comparable product in the area. Ideally located alongside the All-American Highway, residents gain immediate access to Fayetteville’s top retail and entertainment options with a convenient commute to Fort Liberty’s 16,000+ job opportunities and an additional 9,000+ jobs within the premier Healthcare Corridor.

The One at Fayetteville offers new ownership the chance to invest in a high-performing asset that has showcased an impressive lease-up performance, averaging 30 move-ins per month from December to July. Surrounded by a limited supply pipeline coupled with impressive population growth of 38% in the last 5 years, new investors have an extraordinary opportunity to capitalize on the property’s future growth as it reaches stabilization in August and enters its second generation of leasing.

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The One at Fayetteville
264 Units
1025 Hirschfield Drive
Fayetteville, NC  28303
Type:  Multifamily
Posted: 8/13/2024

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Fairways and The Paddock Club, a premier 576-unit multifamily portfolio in Columbia, SC. These properties are ideally located with easy access to major employment centers and lifestyle amenities, offering residents a convenient commute to Columbia’s top 28 employers within a 30 minute drive. The surrounding area features strong market fundamentals, including favorable demographics, a limited supply pipeline, and projected rent growth of 20% through 2029.

Built in 1992 and 1989/1996, both assets offer new ownership the unique opportunity to acquire institutionally owned and consistently well-maintained assets that have been held for over 30 years. With a market-supported value-add program, the portfolio is well-positioned to capitalize on significant upside potential, achieving $285-$400 premiums by bridging the rental gap with market competitors.

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The Fairways & The Paddock Club (2 properties, 576 units)
The Paddock Club
Offers Due:  Wednesday, November 13, 2024
336 Units
4824 Smallwood Drive
Columbia, SC  29223
Type:  Multifamily
Posted: 10/11/2024