The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 533-unit Park Portfolio of three apartment communities located in Smyrna, Cobb County, Georgia. Each asset arrives to market with impressive organic rental growth trends, and all are strategically located in Atlanta’s booming northwest expansion district - home of the Atlanta Braves Battery development, the Platinum Triangle office and retail mecca, and Dobbins Air Reserve Base. Built in 1964-1967, the Park Portfolio presents an outstanding opportunity to acquire proven value-add assets in a high-growth market. The assets are being offered both individually and as a portfolio.
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Park 3 Portfolio (3 properties, 533 units)
Centerview Park
128 Units
2300 Benson Poole Road
Smyrna, GA  30082
Type: Conventional
Posted: 9/26/2022

Cushman & Wakefield, as exclusive advisor, is pleased to present Centre Lake, a transit orientated, incoming producing, development site. Situated on 11.1-acres, the site is adjacent to the Golden Glades Multimodal Transportation Facility and is currently improved with 234-units. The property is part of an areawide rezoning effort that, upon approval, will increase the "as of right" density to 125 units per acre. An additional 25% density bonus can be achieved by incorporating workforce housing or making a “contribution in lieu” payment.

EXISTING IMPROVEMENTS

Built in 1986, Centre Lake Apartments is a 234-unit single-story, villa-style property. The property is 94% occupied with below market rents. There is $640,000 of loss-to-lease revenue upside potential to be realized by pushing all the rents to market. Market rents are readily attainable of $1,300 for studios; $1,500 for one bedrooms and $1,925 for two bedrooms; 31 units (13%) are currently renting at or higher than these market rents. Assuming all units are at the respective market rents, there is $640,000 in loss-to-lease before capital enhancements. Current ownership has upgraded three units. New ownership can chose to implement a value-add program and receive $150 per unit rent premiums over the market rents which would add another $420,000 in upside income. All one and two bedroom units (69% of all units) have washer and dryer hookups in place.

DEVELOPMENT OPPORTUNITY

The Centre Lake property is positioned within an area that is being considered for up-zoning that would increase the site’s density potential to ± 1,733 units or about 156 units per acre. In September 2022, the Miami-Dade County Commission is scheduled to review a large area rezoning application that would dramatically increase the residential density potential of the N.W. 7th Avenue corridor, including the Centre Lake property, by including it in the North Central Urban Area District (“NCUAD”). As part of the NCUAD, the property will be designated “RM-Core” allowing up to 15 stories and a residential density of up to 125 units per acre "as of right." A density bonus of up to 25% can be achieved by participating in the County’s Workforce housing program, bringing estimated potential density to over 1,700 units. In addition, due to Centre Lake’s proximity to the new Golden Glades Multimodal Transportation Facility, existing bus stops and the Golden Glades Tri-Rail Station, it is eligible for a parking reduction of up to 30%.

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Centre Lake
234 Units
15754 NW 7th Avenue
Miami, FL  33169
Type: Conventional
Posted: 8/22/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 157-unit, 482-bed, CEV Upstate student housing apartment community located in Spartanburg, SC. Situated along the commerce-rich Interstate 85 corridor, Spartanburg is the east anchor of the prolific Upstate region, globally recognized for its massive BMW plant (11,000 employed) and burgeoning high-tech economy. The off-campus housing complex lies directly next to the University of South Carolina Upstate in an area of East Spartanburg that supports over 70k jobs within a 20-minute drive, impressive projected rent growth of 15% through 2026, and a strong white-collar workforce (50%). Built in 2008, CEV Upstate arrives to market with a top-notch amenity package and ideally positioned for a Class-A value-add campaign to bridge the gap between submarket competitors and command average premiums of $90+/bed ($270/unit).
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CEV Upstate
482 Units | 482 Beds
101 Campus Suites Drive
Spartanburg, SC  29303
Type: Student
Posted: 5/25/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 224-unit Chapel View apartment community located in Chapel Hill, NC. This asset is situated in the thriving multifamily market in Chapel Hill and is benefiting from its proximity to UNC Chapel Hill. Just south of I-40, Chapel View is given streamlined access to Durham, RTP, and the entirety of the rapidly expanding Triangle. The property is just minutes from top retail including Whole Foods, Starbucks, Trader Joes, and Harris Teeter. Built in 1986, Chapel View offers an outstanding opportunity to invest in an asset that has received over $1.5 million in capital expenditures since the end of 2021. Incoming investors can continue the established, proven value-add program and increase NOI by over 23%.
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Chapel View
Offers Due:  Tuesday, March 28, 2023
224 Units
2701 Homestead Road
Chapel Hill, NC  27516
Type: Conventional
Posted: 2/27/2023
Cushman & Wakefield is pleased to exclusively present Cherryland Place (the "Property"), a fully-entitled mixed-use multifamily development site located in a Qualified Opportunity Zone in unincorporated Hayward, California. Located within 10 minutes of three BART stations and 15 minutes from the San Mateo Bridge, Cherryland Place will provide future residents convenient access to the Peninsula, and a seamless 25 and 35 minute commute to Oakland and San Francisco, respectively. Situated between Interstates 580 & 880, future residents are well connected to San Jose and Silicon Valley - the technology capital of the world.

Cherryland Place’s strategic central Bay Area location provides widespread access to the most innovative companies in the world and is well positioned within a high income growth submarket. Median household incomes in the Hayward area are forecasted to grow 21% by 2024 to $102,426 annually, while the number of local households with annual incomes greater than $150,000 is expected to grow 36% during this same time. As a modern community with on-site retail and easy access to the region’s top employers, Cherryland Place will offer the well-amenitized living experience and embedded upside critical to making the community a highly successful development project.
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Cherryland Place
2.78 Acres
20095-20097 Mission Blvd
Hayward, CA
Type: Land
Posted: 2/5/2020

New Construction $200K Build-to-rent Homes

Currently under construction, Circle Point Villas is a new, high end rental home community built by an experienced developer. After rollover of the first leases, additional organic rent growth could be achieved.

High Demand for Home Rentals

There is increasing demand for renters who prefer the privacy and larger size of a home, without the burden of homeownership. Peak home prices coupled with the flexibility of renting and desire for suburban living have boosted the demand for BTR communities.

Trending Demographics Support Rental Rates

Circle Point Villas is primed for a high-level resident profile. Average household incomes within five miles are $66K and is expected to increase by 10% over the next four years. Nearly 52% of residents earn over $50K. Spending 30% of a $66K average gross income for housing equates to rents starting at $1,650.

Maintenance Free Rentals with Flexibility

BTR homes attract millennials, baby boomers and prospective home buyers tired of the house hunt with the flexibility to move when they want, and maintenance free living with professional on-site management. Circle Point Villas offer spacious open layouts, direct access garages, green space, patio and front porch, laundry room with W/D and a full appliance package.

Near Significant Employment

Toyota Motor Manufacturing | Indiana (7,296 employees) is less than five miles from Circle Point Villas. The company is adding an additional 1,400 employees by the end of 2023. Additional employers nearby include Duke Energy (1,400 emp), Vuteq Corp. (654 emp), Deaconess Gibson Hospital (350 emp) and Hansen Corp. (233 emp).

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Under Contract
Circle Point Villas
117 Units
Princeton, IN  47670
Type: Build for Rent
Posted: 6/9/2022
CUSHMAN & WAKEFIELD, as exclusive marketing advisor, and in collaboration with Colliers - Urban Core Division, is pleased to present this exciting development opportunity ideally positioned in downtown Miami’s Central Business District. The site offers intense, mixed-use zoning with extraordinary walkability and immediate access to mass transit.
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Clear Residences Site
0.55 Acres
130 SE 1st Street
Miami, FL  33131
Type: Land
Posted: 8/13/2022

Cushman & Wakefield, as exclusive advisor, is pleased to present Cocoa West (the "Property"), a 37-acre multifamily / BTR development site located in Cocoa, FL within the booming Space Coast Market. The Property is currently in the process of obtaining site plan approval for 240 townhome units. The Melbourne/Cocoa/Rockledge MSA is among the country’s fastest-growing metros with 2.6% unemployment and 4.1% job growth as of Q4 2022. The metro area has also seen 30% effective rent growth in the last 24 months while maintaining 95%+ occupancy.

The Property is situated one block from State Road 520, providing direct access to Downtown Cocoa (10 minutes) as well as Cocoa Beach (25 minutes). There is a notable medical and educational presence in the submarket, with Rockledge Regional Medical Center (298 beds, 1,800 employees) , Eastern Florida State College (15,000 students and 800 employees), and UCF-Cocoa Campus (500 students and 150 employees) all within five miles of the Site.

The Property also enjoys five-minute access to Interstate-95, providing convenient connectivity to the Orlando, Daytona Beach, and Melbourne office markets: totaling 132 m.s.f within a one hour drive. Additionally, there is more than 7.8 m.s.f. of retail and restaurants within five miles of the Property.

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Cocoa West
36.83 Acres
201 S Burnett Road
Cocoa, FL  32926
Type: Land
Posted: 3/2/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 32-unit Commodore apartment community located in McDonough, Henry County, Georgia. This asset is situated in rapidly expanding southeast suburban Atlanta proximate to the I-75 industrial corridor. Built in 1970, Commodore comes to market with recent capital improvements, and offers an outstanding opportunity to invest in a promising submarket with robust rent growth and a growing population.
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Commodore
32 Units
13 Brannan Street
McDonough, GA  30253
Posted: 3/20/2023

Cushman & Wakefield, in conjunction with WT Mitchell Group Inc., are pleased to exclusively present the opportunity to acquire Concord Terminal (the "Property"), a ±2.66 acre transit-oriented multifamily development site located in Concord, California. Situated just steps from the Concord BART station, the Property’s infill location provides future residents immediate access to the San Francisco Bay Area’s economic and lifestyle offerings that make it one of the world’s premier places to live, work and play.

Concord Terminal is currently a retail shopping center with month-to-month tenancies which provides an investor logistical flexibility while also benefitting from recurring cash flow during the entitlement process. Located within Concord’s Downtown Mixed Use (DMX) zoning district, the Property is zoned for up to 266 multifamily units and, through density bonuses, more than 300 units could potentially be built on the site.

With modern design, a transit-friendly location, and close-proximity to downtown Concord's numerous lifestyle amenities, Concord Terminal will offer a highly-amenitized living experience for residents seeking convenient living in the San Francisco Bay Area.

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Concord Terminal
2.66 Acres
2699 Clayton Road
Concord, CA  94519
Type: Land
Posted: 1/10/2019
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the Conyers Development Site located 25 miles southeast of downtown Atlanta in Rockdale County, Georgia. This extraordinary, bank-owned, rare development site is strategically situated a half mile from Publix, Piedmont Rockdale Hospital Medical district, schools, and new SF homes averaging $250K+. The Conyers Development Site offers unlimited commercial/residential development potential in a high-visibility location within one of the fastest growing counties in Georgia.
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Under Contract
Conyers Development Site
65.07 Acres
900 Sigman Road
Conyers, GA  30012
Type: Land
Posted: 8/10/2020

The Cushman & Wakefield Florida Multifamily Advisory Group is pleased to present the 407 unit offering in the Copeland Village condominium community located in Tampa, Florida.

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Copeland Village
Offers Due:  Thursday, March 23, 2023
407 Units
1250 E. 113th Avenue
Tampa, FL  33612
Posted: 1/28/2023
the Cushman & Wakefield Sunbelt Multifamily Advisory Group and National Senior Housing Capital Markets Group are pleased to announce the exclusive listing for the sale of Cottages at Celebration Village. Completed in 2022, the collection of 32 attached build-to-rent residences provides an active lifestyle for seniors and shared access to resort-style amenities at the adjacent senior living community, Celebration Village Forsyth. The Cottages are in an exceptionally affluent pocket of the North Atlanta Suburbs. Within a 7-mile radius, the average household income exceeds $175K with a median home value of $498K, and 15K seniors are 75+. Additionally, median home sales within the neighboring submarket of Johns Creek are even higher, exceeding $670k. The Cottages present an exceptional opportunity to acquire an active adult townhome community supported by impressive demographics and established senior population.
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Cottages at Celebration Village
32 Units
435 Reserve South Drive
Suwanee, GA  30024
Type: Senior
Posted: 3/3/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the +/- 29.768 acre, Cottages at Clovis Point Development Site. The age-restricted (51+) development site has successfully gone through the rezoning process to allow for 80 single family units. The site is well located to allow for expedited access to the local retail and attractions of Kings Mountain and Charlotte via I-85. Large-scale nearby projects like the Catawba Two Kings Casino, Albemarle Corp.’s new lithium facility, and over two and half million square feet of proposed and under development industrial space bode well for the submarket’s future. Voted the Healthiest Housing Market in the country just a couple years ago, Kings Mountain maintains strong housing fundamentals today. The Cottages at Clovis Point is an attractive opportunity to capture the growing demographic of adults interested in convenient build-to-rent housing with easy access to city luxuries.
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Cottages at Clovis Point Development Site
29.77 Acres
Kings Mountain Blvd
Kings Mountain, NC  28086
Type: Land
Posted: 1/13/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 454-unit, Country Club apartment community located in Charlotte, NC. Built in 1969, Country Club represents an outstanding opportunity for new ownership to bring unit finish levels in line with comparable properties in the submarket achieving $250+ premiums. Significant capital has been infused into the submarket, most notably the Eastland Mall Redevelopment, with plans to bring 155 single-family units, 70-120 affordable senior housing units, 280 multifamily units, 17,500 SF commercial space, as well as infrastructure improvements. Future development of the LYNX Silver Line Light Rail, along with the continuation of the LYNX Gold Line, will continue to improve the transportation and accessibility in East Charlotte, making Country Club a prime opportunity to invest in one of Charlotte's most transformative submarkets. Rent growth within the submarket has averaged 7% per year since 2015 and is projected to rise 4.5% annually through 2027.
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Country Club
Offers Due:  Wednesday, April 19, 2023
454 Units
2332 Dunlavin Way
Charlotte, NC  28205
Type: Conventional
Posted: 3/10/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 224-unit Country Meadows community located in the Little Rock, AR MSA. This asset is situated NE of Little Rock in Searcy, AR with a top ranked public school system and two universities (9,000+ students) within 20 minutes of the property. Country Meadows comes with attractive assumable debt in place, a quality physical plant, and an interior value add program which can boost rents $150. Built in 1998, Country Meadows offers an outstanding opportunity to invest in a high performing asset with true value add potential.
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Under Contract
Country Meadows
224 Units
909 Holmes Road
Searcy, AR  72143
Posted: 7/7/2022
Crosby Park
216 Units
5535 NW Cache Rd
Lawton, OK  73505
Type: Conventional
Posted: 8/30/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 244-unit Crystal Townhomes & Crystal Heights multifamily communities located in Atlanta, Georgia. These assets are strategically-located along the I-20/I-285 corridor in west Atlanta and have direct access to three of metro’s most prolific job cores: the Fulton Industrial District, Downtown/Midtown, and Hartsfield-Jackson International Airport. Built in 1969 & 1970, both assets have had full-scale recent renovations and come to market with impressive performance and returns.
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Crystal Townhomes & Crystal Heights (2 properties, 244 units)
Crystal Heights
Offers Due:  Tuesday, March 28, 2023
120 Units
3440 Boulder Park Drive
Atlanta, GA  30331
Type: Conventional
Posted: 2/16/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 244-unit Crystal Townhomes & Crystal Heights multifamily communities located in Atlanta, Georgia. These assets are strategically-located along the I-20/I-285 corridor in west Atlanta and have direct access to three of metro’s most prolific job cores: the Fulton Industrial District, Downtown/Midtown, and Hartsfield-Jackson International Airport. Built in 1969 & 1970, both assets have had full-scale recent renovations and come to market with impressive performance and returns.
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Crystal Townhomes & Crystal Heights (2 properties, 244 units)
Crystal Townhomes
Offers Due:  Tuesday, March 28, 2023
124 Units
3804 Martin Luther King Drive
Atlanta, GA  30331
Posted: 2/16/2023

NEW CONSTRUCTION - $135K/UNIT

Currently under construction, Cypress Point is the only Class A multifamily property in Washington, IN.

LIMITED COMPETITION

The closest direct competitor to Cypress Point is Baldwin Heights, located 40+ minutes south in Princeton, IN and was built by the same developer.

5-YEAR 100% TAX ABATEMENT

Located within a newly established economic revitalization area, Cypress Point has a 5-year tax abatement in place that ends in the year 2027. This favorable tax abatement will offer the new owner increased cash flow.

I-69 CONNECTIVITY

Located adjacent to the new I-69 North American Super Corridor, Cypress Point benefits from:

- 178,000+ Workforce within a 60 minute drive

- 80% of the US population within a one day drive

- Westgate at Crane Technology Park (30 Minute Drive)

- Naval Surface Warfare Center - Crane Division (30 Min. Drive)

- Toyota Motor Manufacturing - 7,296 Employees (45 Min. Drive)

- Direct commute to Indianapolis and Evansville

- Washington, IN is the county seat of Daviess County

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Under LOI
Cypress Point
144 Units
2005 E. National Highway
Washington, IN  47501
Type: Conventional
Posted: 6/7/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Dalian 151, a 360-unit, 2018-built apartment community, and Dalian Monterrey Village, a 360-unit, 2015-built apartment community, both located in San Antonio, Texas. Dalian 151 and Dalian Monterrey Village offer prospective buyers an exceptional opportunity to acquire abundantly amenitized institutional product with highly accretive in-place HUD debt below replacement cost. Situated proximate to the Highway 151 and Loop 410 intersection, tenants possess immediate access to San Antonio’s premier corporate employment corridor, a myriad of retail amenities, and various urban attractions. The opportunity is further bolstered by robust rent growth projections, prudent value-add potential, and the growing presence of stable economic drivers, such as the cyber and healthcare sectors, in the surrounding area.
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Dalian 151 & Dalian Monterrey Village (2 properties, 720 units)
Dalian 151
360 Units
10018 Ingram Road
San Antonio, TX  78245
Type: Conventional
Posted: 2/1/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Dalian 151, a 360-unit, 2018-built apartment community, and Dalian Monterrey Village, a 360-unit, 2015-built apartment community, both located in San Antonio, Texas. Dalian 151 and Dalian Monterrey Village offer prospective buyers an exceptional opportunity to acquire abundantly amenitized institutional product with highly accretive in-place HUD debt below replacement cost. Situated proximate to the Highway 151 and Loop 410 intersection, tenants possess immediate access to San Antonio’s premier corporate employment corridor, a myriad of retail amenities, and various urban attractions. The opportunity is further bolstered by robust rent growth projections, prudent value-add potential, and the growing presence of stable economic drivers, such as the cyber and healthcare sectors, in the surrounding area.
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Dalian 151 & Dalian Monterrey Village (2 properties, 720 units)
Dalian Monterrey Village
360 Units
10102 Ingram Road
San Antonio, TX  78245
Type: Conventional
Posted: 2/1/2023

808-UNIT PORTFOLIO

Devonshire Gardens (139 units) and Devonshire Place (106 units) must be purchased together. They can also be purchased with Harrison Point (342 units) and Aura (125 units) in Indianapolis, and Tuscany Bay (96 units) in Lawrenceburg for a total portfolio of 808 units, offering instant economies of scale.

WELL MAINTAINED PROPERTIES WITH DESIRABLE FEATURES

The majority of windows and patio doors were replaced from 2012-2015 at both properties. The exteriors are mostly brick and have mature landscaping with a neighborhood feel. Both properties have very desirable, large townhome units.

VALUE-ADD OPPORTUNITY

A total of 100 units have already been upgraded and are achieving premiums of $70-$100+. Upgrading the remaining 145 units, as well as building exteriors would achieve additional revenue. Average rents are also below competing properties.

EXCELLENT LOCATION

Both properties are close together and are walkable to adjacent grocery stores and abundant retail on Green River Road. Deaconness Gateway Hospital and Ascension St. Vincent Evansville Hospital are a short drive. Interstate 69 is just two miles south of the properties.

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Under LOI
Devonshire Gardens & Devonshire Place
245 Units
815 Erie Avenue
Evansville, IN  47115
Type: Conventional
Posted: 1/13/2023

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 1,152-unit, Cross Country 5 Portfolio located in Arkansas, Oklahoma, and West Virginia. This portfolio is distributed across the Little Rock, Tulsa, and Huntington markets that have seen 7.8%, 10.4%, and 4.8% YoY rent growth, respectively. Little Rock is the state capital of AR and is home to over 60K State and Local Government jobs. With an average household income of over $90K, Broken Arrow is the largest suburb of Tulsa, OK, the second largest city in the state. Built between 1964 and 2017 this portfolio offers an outstanding opportunity to invest in a value-add portfolio in some of the strongest performing markets in the Sunbelt.

DLP Wexford, located in West Virginia, is co-brokered with Century Realty, LLC: Century Centre, 1233 Main Street, Suite 1500, Wheeling, WV 26003. John D. Aderholt, Exclusive West Virginia Broker, +1 304 232 5411, jdaderholt@centuryequities.com

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Cross Country 5 Portfolio (5 properties, 1,152 units)
DLP Wexford
340 Units
98 Devonshire Dr
Scott Depot, WV  25560
Posted: 9/7/2022