Cushman & Wakefield’s Multi-Family Advisory Group is pleased to present the opportunity to acquire the Everett & Malden Portfolio, a 4-building, market-rate workforce housing portfolio in Everett and Malden, Massachusetts. Totaling 72 bedrooms and 19,693 SF, this portfolio is strategically located in two of Boston’s most rapidly evolving neighborhoods. The properties are in close proximity to several up-and-coming developments of Everett, most notably the Encore Boston Resort and Casino. The properties also boast easy access to the MBTA’s Orange Line, Silver Line and commuter rail. Just north of Boston, Everett & Malden are a short commute from the area’s major employers, academic institutions, shops, dining, and entertainment destinations.

The Everett & Malden Portfolio consists of 72 rooms across 4 properties that are currently 100% occupied, with a waitlist of potential tenants. These properties provide a rare opportunity to acquire market-rate affordable housing with endless demand given the rising costs to buy and build and regulations around unit size for other types of housing across the metro area. As the costs of housing increase, the rising rent floor will directly benefit this portfolio.

Process & Pricing

The properties are offered on an “as-is” basis and without a formal asking price. Upon receipt of a signed Confidentiality Agreement, qualified investors will be provided with access to due diligence materials via the Cushman & Wakefield website. Once investors have had an opportunity to review the offering materials and tour the properties, Cushman & Wakefield will schedule a “Call for Offers”.

Cushman & Wakefield Senior Housing Capital Markets ("C&W") in its exclusive representation of Urban Atlantic ("Sponsor"), an experienced Washington, DC based developer, is seeking a limited partner (LP) equity investor for the adaptive reuse redevelopment of a suburban office complex into a 180-unit active adult (55+) apartment community in Fairfax, Virginia, an affluent suburb of Washington, DC. Fair Lakes ("Subject," "Community," "Asset") will offer luxury amenities and finish levels, catering to the sizeable population of seniors in one of the wealthiest areas of the nation with units that are on average greater than 10% larger than the closest competitors.

The Community will be located approximately 22 miles west of downtown Washington, DC with close access to dining, entertainment, and retail. Fairfax is one of the wealthiest suburbs of Washington. Within 10 miles of the site, there are more than 872,000 people, including an exceptional 98,549 seniors age 65+ with over $50,000 in annual income. Additionally, the median home value within a ten-mile radius is an impressive $536,000.

The Site is ideally located within walking distance of East Market at Fair Lakes, a Whole Foods-anchored retail power center with visibility from Route 66, one of the most heavily trafficked arteries in the entire region, and adjacent to a 197-home development sponsored by local developer Peterson Companies with average home sales approaching $900,000.

The Sponsor is seeking approximately $26.4M of limited partner equity. The LP will receive customary rights and controls. Bozzuto, an award-winning national operator headquartered in Washington, DC, is engaged to manage the community upon completion.

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 200-unit Flint River apartment community located in Jonesboro, Clayton County, Georgia. This asset is embedded in south Atlanta’s surging aerotropolis industrial and logistics mecca with easy interstate access to key employment centers along the strategic I-75 corridor. Built in 1971 and renovated in 2016, Flint River offers an outstanding opportunity to invest in a well-designed, all 2-3BR asset with proven value-add potential.

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 264-unit Forest Glen apartment community located in Austell, Cobb County, Georgia. This asset is situated in thriving northwest suburban Atlanta, home to large employers such as WellStar Cobb Hospital, Truist Park/The Battery, and the Platinum Triangle and Perimeter Center office districts. Built in 1989, Forest Glen offers an outstanding opportunity to invest in an in-demand multifamily submarket, where rents have steadily increased during the past eight years. Investors can complete the proven value-add program at Forest Glen and increase NOI by more than 25%.

THIS OPPORTUNITY IS BEING OFFERED VIA AN AUCTION PROCESS THROUGH TEN-X
AUCTION DATES: MAY 1 - MAY 3

To access the full OM and sign the CA through Ten-X, you will need to follow the link here

1. CREDITS, INCENTIVES AND ABATEMENTS
The owner of Fourth & Walnut Centre can apply for a variety of incentive programs, including but not limited to state and federal tax incentives, sales tax exemptions for construction materials, and real estate tax abatements on the improved value. A summary of some of these programs and the property’s status is on page 8.

2. FOURTH STREET MOMENTUM
With multiple conversions and recently completed new construction, Fourth Street continues to evolve into a vibrant residential and hospitality corridor within Downtown Cincinnati. Fourth & Walnut Centre’s proximity to The Banks, a preeminent mixed-use development along the Ohio River, and Fountain Square, the social heart of Downtown, positions it well for either a residential or hospitality adaptive reuse.

3. WALKABLE AND TRANSIT-ORIENTED LOCATION
Fourth & Walnut Centre is located within a half-block of the Fountain Square Station for The Connector, a 3.6-mile streetcar line operating throughout the city’s urban core and connecting The Banks with Over-the-Rhine. Cincinnati is also one of the most walkable downtown areas in the country with a walkability index of 18.6 out of 20 and a walk-score of 95%.

4. DOMINANT OHIO MSA
At more than 2.2 million residents, the Greater Cincinnati MSA, comprised of 16 counties in three states, is the largest within the State of Ohio and the 30th largest in the United States. 7 Fortune 500 companies are headquartered in the Greater Cincinnati MSA including 5 located in the CBD.

5. OVER 11,000 CINCINNATIANS CALL DOWNTOWN HOME Downtown Cincinnati supports a richly compact community with abundant amenities. With increased demand to live in the area and new housing options under construction or planned, this number is expected to grow for the foreseeable future. Downtown's population balloons several times over during and after work hours. When work is over, the entertainment corridors light up with residents and visitors alike.

To access the full OM and sign the CA through Ten-X, you will need to follow the link here

Cushman & Wakefield's Mid-Atlantic Multifamily Advisory Group is pleased to present Frontier Apartments – a proven value-add apartment community offering immediate scale in the expanding Roanoke, Virginia market. The Roanoke metro area, located in Southwest Virginia, is experiencing an enhanced period of economic and employment growth. The manufacturing and transportation industries continue to be the economic backbone of the region, and yet the local economy is also expanding and diversifying with the emergence of an innovative biotechnology sector. Over $1 billion in capital has been invested in research and medical facilities in Roanoke over the last decade. Furthermore, Wells Fargo recently announced an $87 million expansion of its corporate facility less than three miles from the property, bringing an additional 1,100 jobs to the area. Strong economic performance has translated into an accelerating apartment market where rent growth nearly averaged 9% over the course of 2022 with sub-5% vacancy. Frontier Apartments has grown Gross Potential Rent by more than 10% over the prior 12 months, and a thoughtful renovation program at the property has consistently garnered rent premiums of $140 per month on average with the introduction of new countertops, backsplashes, luxury vinyl flooring, stainless steel appliances, and upgraded bathroom features. The property’s size (194 units) and scale within the market augments its broad investor appeal as it is well-suited to establish a first-time presence in Roanoke or complement an existing portfolio. Moreover, smaller, more nuanced markets such as Roanoke tend to provide investors with advantaged risk-return characteristics while still allowing for sufficient transaction velocity, growth in operations, and a desirable tenant pool and renter profile. Frontier Apartments’ prime location within the growing Roanoke market and its clear path to proven upside will capture consistent cash flows and provide long-term value throughout market cycles for years to come.

The Gardens at Hidden Creek is an exceptional multifamily opportunity comprised of 125 units located in southeast submarket of Colorado Springs. The property offers a range of desirable living options, including five distinctively designed studios, 1-bedroom, and 2-bedroom floor plans. In addition to the attractive unit mix, The Gardens at Hidden Creek offers the advantage of an assumable loan with a fixed interest rate of 3.25%, with interest only payments until 8/1/2026. In today’s challenging debt environment, this feature allows investors to streamline the financing process, and ultimately achieve higher returns.

Each apartment home features a host of modern conveniences and luxury amenities, such as an all-electric kitchen, balcony with patio, carpeted floors, vertical blinds, and vinyl wood grain flooring. Beyond the comfortable living spaces, The Gardens at Hidden Creek boasts an array of community amenities to enhance residents’ lifestyles. These amenities include a picturesque picnic area with barbecue facilities, a sparkling swimming pool, a state-of-the-art fitness center, a cyber cafe, a garage, and a laundry facility. Additionally, on-site maintenance and a part-time courtesy patrol ensure that residents’ needs are promptly addressed.

The property benefits from its proximity to several large Colorado Springs employers including Fort Carson, the COS Airport, and the Amazon Distribution Facility. The property’s location near public transportation routes ensures convenient access to transportation for residents. Additionally, the property’s close proximity to a Memorial park provides residents with easy access to green spaces and recreational activities.

The Gardens at Hidden Creek is perfectly positioned to capitalize on the growth and development in Colorado Springs. The city’s strong job market, expanding economy, and increasing population make it an attractive destination for renters and investors alike.

The Gardens at Hidden Creek represents a compelling investment opportunity for potential buyers. With its strong rental demand, unique unit mix, and limited competition, the property has an attractive value add story and future cash flow potential for prospective investors.

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 97-unit Gardens at Knoxwood apartment community located in Knoxville, Knox County, Tennessee. This asset is situated in the scenic East Knoxville submarket, a highly accessible location south of Interstate 40 with quick access to Downtown Knoxville (3 miles) and The University of Tennessee. Built in 1969 and renovated in 2023, Gardens at Knoxwood offers an outstanding value-add opportunity seeing $100 in rent premiums with the ability to achieve additional premiums through full-scale renovations. Residents of Gardens at Knoxwood have direct access to key Knoxville employers including the University of Tennessee Medical Center, the U.S. Dept. of Energy at Oak Ridge, and Knox County Schools.

Cushman & Wakefield's Mid-Atlantic Multifamily Advisory Group is pleased to present The Gates of West Bay – a proven value-add apartment community with an exceptional profile in Norfolk, VA. The Hampton Roads metro area, and Norfolk in particular, has experienced an accelerated period of economic and employment growth borne out of significant government and government-related investment in the region. The property is simultaneously close by to the city’s largest employment centers (Naval Station Norfolk and The Port of Virginia) and its most desirable beaches and outdoor venues. In addition to lease trade outs that have averaged 8.4% over the past two months, The Gates of West Bay has also demonstrated achievable monthly premiums of ~$125 per unit on average through an in-place renovation program that makes over kitchen, flooring, and bathroom features. Furthermore, the Northern Norfolk apartment market remains fundamentally strong with 8% year-over-over rent growth and 3.5% vacancy over the course of last year. Unemployment in the area is below the national average, the median age of residents is about seven years younger than the MSA as a whole, and a large majority of the local population (55%) rents rather than owns their homes. The confluence of these factors – and the permanent, expanding presence of the military and industrial complexes in the immediate area – will sustain and enhance an active tenant base for The Gates of West Bay into the foreseeable future. Lastly, the property carries with it assumable, accretive agency financing with a below-market fixed interest rate that can be supplemented post-closing for enhanced leverage.

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Giddy Hall, a 171-unit apartment community located in Charlotte, NC. Built in 2023, the property is strategically located in the flourishing pocket of Steele Creek, a submarket characterized by rapid population growth and skyrocketing home values. The Class-A community features best-in-class finishes and top amenities tailored to appeal to area’s burgeoning high-end renter class ($94k Avg. HHI).

Situated in the heart of Steele Creek’s retail corridor, Giddy Hall offers a plethora of dining and entertainment options within minutes including Topgolf, Target, Harris Teeter, Publix and more, as well as direct access to the city’s top employment hubs via nearby I-485. The property has demonstrated impressive lease-up performance, consistently pushing rental rates while offering little to no concessions. Market comparables offer more than $200 in headroom, highlighting Giddy Hall as an exceptional opportunity to invest in a high-quality asset offering substantial organic rent growth potential through a mark-to-market leasing strategy.

1. FULLY ENTITLED DELIVERED SITE
This 10+/- land site is zoned for up to 266 residential units and up to a 4-story product. The site offers a developer the opportunity design & develop a variety of potential products including market rate apartments, townhomes, single family rentals or a for sale product. Along with the existing 84-unit senior living and memory care facility and senior villas, Vision Development & Elmington Capital are under construction with 839 apartment units which include Class A+ market rate, workforce and 55+ age restricted units.

2. LOCATED IN DYNAMIC GROWING COMMUNITY
Union Township is a thriving community just on the outskirts of Cincinnati and is the 9th largest township in the State of OH. Located just minutes from I–275 the development site is nestled between abundant retail amenities and tree lined rapidly growing residential communities

3. PROXIMITY TO LARGE EMPLOYERS
Being known as a well-managed local municipality, Union Township is known as a business-friendly community. Union Township has emerged as a major employment center on the east side of Cincinnati. Home to Total Quality Logistics, the 2nd largest freight brokerage company in the US who is currently expanding their Headquarters which will create 600 new jobs. Nearby employers also include American Modern Insurance and Tata Consultancy Services who each have over 1,000 employees.

4. EASY ACCESS TO RETAIL, ENTERTAINMENT & COMMERCE
Union Commons Development location will not only provide residents access just minutes away to local retail, restaurant and entertainment amenities but also easy access to Downtown Cincinnati & Greater Cincinnati/N KY International Airport.

5. ESTABLISHED + IMPROVING AREA DEMOGRAPHICS – TRAFFIC COUNTS
2 new traffic circle will highlight the entrance to Union Commons from Bach Buxton Rd & Glen-Este Withamsville Rd. These improvements along with the Clepper Lane extension to Bach Buxton Rd. the current 13,375 cars per day will increase significantly. Union Commons is also surrounded by desirable demographics with average household incomes of $95,000 and significantly rising home values.

6. OPPORTUNITY ZONE
Union Commons development site is located within a Designated Opportunity Zone, one of only two located in Clermont County. Investors in a multi-family development will have the ability to defer existing capital gains and take advantage of the significant long-term hold tax benefits available to investors in projects located in Opportunity Zones.

PROVEN ABILITY FOR CONTINUED REVENUE GROWTH – 6.7% CAP RATE AT CURRENT RENTS

After an extensive period of extremely low market rents, in 2023 the current owner increased them by $200/unit. 100% of the leases signed in 2023 (60+ leases) are at the new, higher market rent. Simply continuing to push the current market rent on renewals and new leases equates to a 6.7% cap rate year one. The average length of tenancy for leases prior to 2023 is unprecedented at nearly 6 years. In 2022, annual turnover was only 18.3%.

PRIME VALUE-ADD OPPORTUNITY SOLD BY ORIGINAL DEVELOPER

Golfview presents the opportunity to obtain a well-maintained property sold by its original developer, located within the affluent city of Valparaiso, IN. Even the recently increased Market Rents trail the rents at comparable properties and are poised to benefit from a value-add initiative. Through an interior renovation program, an incoming investor can dramatically increase effective rents, with NOI growth of at least 15%, and generate a $400+ average rental premium. Additionally, revenue can be increased by initiating a bill-back for water, sewer, and trash, and introducing desirable amenities.

POPULAR & FLOURISHING VALPARAISO

Valparaiso’s exceptional quality of life shines through its lively downtown, plethora of green spaces, exciting economic developments, presence of the nationally acclaimed Valparaiso University, and an outstanding public school system. With only 38% rental housing and very little new development in Valparaiso, it’s no surprise this market consistently maintains a high occupancy, currently 96.5% and 4.6% rent growth in 2023.

BORDERING GOLF COURSE IN PROSPEROUS NEIGHBORHOOD

Nestled within an opulent and coveted locale, Golfview gracefully meanders alongside the serene Forest Park Golf Course, providing picturesque views enhanced by lush foliage. The immediate area is quite affluent with average household incomes and home values exceeding $122K and $346K, respectively.

PROMINENT CHICAGO MSA/NORTHWEST INDIANA REGION

Golfview boasts a prime, central location in Northwest Indiana (The Region), within the Chicago MSA. A mere one-hour drive from Chicago—the nation’s 3rd largest city—Golfview benefits from proximity to an abundance of employment, amenities and entertainment opportunities, while avoiding the exorbitant costs and inconveniences of a large metro. Northwestern Indiana is benefiting from a boom of new residents as people look to escape Chicago in favor of small-town charm, lower taxes and a more suburban environment.

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 22.3-acre Hanes Multifamily Development Site in Winston-Salem, NC. Located in a busy submarket and currently part of Hanesbrands Inc.’s park-like corporate headquarters campus, the site is zoned for Corporate Park Office but has great potential as a multifamily development site upon a successful rezone. The site has convenient access to national retailers, abundant dining options, and hotels. It is also within 10 minutes of two major economic drivers in the market: Wake Forest University and Smith Reynolds Airport. The Triad as a whole, home to multiple major corporate headquarters, has continued to gain momentum as companies invest in the market and their employees relocate. The Hanes Multifamily Development Site presents an enticing opportunity for multifamily developers to invest in a market that has seen impressive capital infusion.

Cushman & Wakefield has been retained by Crescent Communities ("The Sponsor”) as exclusive advisors to arrange $19.5MM in JV equity for HARMON Melissa. Set to begin construction in 2024, this 146-unit, 3 & 4-Bedroom Townhome development is poised to deliver a robust 7% YOC, untrended. Located in Melissa (Collin County), Texas, in the rapidly-expanding, North Dallas Highway 75 corridor, this project is situated in a master planned, mixed-use development, and surrounded by major employment, high-end retail, a variety of restaurants, and multiple life-style amenities. HARMON Melissa represents an opportunity to partner with a nationally recognized real estate developer with a pipeline throughout the Sunbelt Region, and the potential for a larger programmatic relationship.

OM AVAILABLE SOON

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 54-unit Hawthorne Heights SFR community located in Bentonville, AR. Hawthorne Heights is attractively situated north of Downtown Bentonville and is just a short distance from Crystal Bridges, Bentonville High School and well-known local hiking/mountain biking trails.

Bentonville rests at the head of the booming NW Arkansas MSA, which is home to 3 Fortune 500 Companies – Walmart, JB Hunt and Tyson Foods. Walmart’s headquarters sits just 3-miles Southwest of the asset, supplying 14,000+ corporate jobs and is the World’s largest retailer. Hawthorne Heights is also uniquely positioned as an active senior living community for tenants age 55+, offering a unique asset to a tenant base which is underserved in the growing NW Arkansas market. With final units being delivered soon, Hawthorne Heights offers a premiere opportunity to invest in a well-located asset with the ability to achieve above market returns.

The Cushman & Wakefield Midwest Multifamily Advisory Group is pleased to present the exclusive listing of The Heights at Knollwood Crossing, a 192-unit apartment community located in Hamilton, Ohio within the Cincinnati MSA. This asset is situated near major employers and abundant big box retail and restaurants. Built between 2004 and 2006, the property offers an outstanding opportunity to obtain a high demand, well-maintained and operated asset with a fixed rate assumable HUD loan. Additionally, revenue can be optimized by modernizing all units, initiating bill-back for water, sewer, and trash, and introducing sought-after amenities.

Adjacent Property Also Available For Sale (Same Owner) Knollwood Crossing Phase I 240 Units

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 192-unit Highview Pointe apartment community located in Louisville, Jefferson County, KY. This asset is situated in the strategically located Highview neighborhood of southeast Louisville, just 15 minutes from major employers GE Appliance Park, Ford Assembly Plant and UPS Worldport. Built in 2020, Highview Pointe offers an outstanding opportunity to invest in a premier new construction product offered below replacement cost in a desirable Louisville suburb.

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 157-unit Hillcrest Village apartment community located in Springdale, AR. Hillcrest Village is attractively situated just west of the I-49 corridor, walking distance from Arvest Ballpark, home to the AA affiliate of the Kansas City Royals, The Northwest Arkansas Naturals. Springdale rests in the heart of the booming NW Arkansas MSA, which is home to 3 Fortune 500 Companies – Walmart, JB Hunt and Tyson Foods. Tyson’s headquarters sits just 2 miles NE of the property, supplying 3,000+ corporate jobs and is 1 of the 3 top US poultry producers located in the city. Hillcrest Village is also uniquely positioned within the fast-growing NW Arkansas healthcare hub with Arkansas Blue Cross/Blue Shield, Arkansas Children’s Hospital NW, Highlands Oncology and Mercy Health all within a 5-minute commute. Still under development, Hillcrest Village offers an outstanding opportunity to invest in a well-located and highly desirable BTR product in one of fastest growing markets in the nation.

Cushman & Wakefield’s Multifamily Advisory Group is pleased to present the opportunity to acquire Hillside Residences, a 60-unit, 100% market rate, luxury apartment building located in Quincy Center. The property boasts market leading amenities in both the common areas and within the individual units, such as a state of the art fitness center, a roof deck with spectacular views of the Boston skyline, spacious community areas, under building garage parking and well-appointed unit interiors. The property includes a mix of studio, one bedroom, two bedroom, and four bedroom units with balconies featured in select units.

Hillside Residences is strategically located half a mile from the Quincy Center MBTA station, providing residents with unbeatable access to downtown Boston via the MBTA Red Line subway and Commuter Rail. The property is convenient to the area’s major roadways including Interstate 93, Routes 128/I-95 and Route 3, which provides the location immediate access to all points of the Greater Boston area and beyond.

Hillside Residences is available on an "as-is" basis and is being offered without a formal asking price. Upon receipt of a signed Confidentiality Agreement, investors will be provided with access to due diligence materials via The Multifamily System website. Once investors have had an opportunity to review the offering materials and tour the property, Cushman & Wakefield will schedule a "Call for Offers".