The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present Oak Creek Village, a 501-unit 1972-built (substantially renovated in 2007) apartment community in Durham, NC. The property has 648 feet of frontage on U.S. 15-501 (Durham-Chapel Hill Boulevard), the major artery between downtown Durham and Chapel Hill. The nearby I-40 interchange provides further connectivity to Research Triangle Park, Raleigh, and Greensboro. The opportunity offers multiple value-add investment strategies, where NOI growth of varying levels is available depending on the scale of investment. There is a "plug and play" approach where minor capital investment results in 21% NOI growth and a full-scale approach with interior upgrades where 67% NOI growth is available. Investors can benefit from one or a combination of both options.
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The Garrett (Oak Creek Village)
501 Units
4230 Garrett Road
Durham, NC  27707
Type: Conventional
Closed: 3/15/2018

The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of The Preserve at Pine Valley, a 219-unit apartment community in Wilmington, NC. Located in a market with exploding population, striking demographics, and a booming economy, The Preserve at Pine Valley is poised to benefit from a market-supported rent runway. Operational trends at the property have responded well to a recent $825,000 CapEx injection as monthly collections have grown 20% since Sept-16. With almost all of the units at The Preserve at Pine Valley remaining in their original state and rents resting $195 below the submarket average, new ownership can focus on a market supported interior value-add initiative that is proven to boost annual NOI by more than 38%.

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The Preserve at Pine Valley
219 Units
3314 Wickslow Road
Wilmington, NC  28412
Type: Conventional
Closed: 2/28/2018
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 386-unit Oaks at Northgate and Leon Court apartment community in the Durham, NC MSA. Recently renovated in 2016 /2017, the property is located in a rapidly expanding jobs market that will outpace multifamily supply by a 14:1 ratio (in 2019); and is also in close proximity to key employers, retail centers, and thriving Downtown Durham (2 miles). The property’s immediate submarket zone boasts immense pricing velocity for recent single family and multifamily trades that currently sit above the broader submarket average 6% and 26%, respectively. New ownership has the opportunity to capture a potential 82% boost to NOI through a proven, multi-pronged value-add program. The $1 Million recently spent on exterior improvements offers investors a jump-start to realize this prospective NOI jolt within a shorter time-frame.
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Oaks at Northgate & Leon Court
386 Units
1200-1306-C Leon Street
Durham, NC  27705
Type: Conventional
Closed: 2/16/2018
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the 96-unit Planters Trace apartment community. The property is located in the heart of the West Ashley neighborhood just minutes from Downtown Charleston. With convenient I-526 access, Planters Trace is located within close proximity to Downtown Charleston as well as major employment centers including Boeing (8,200 jobs), Joint Base Charleston (36,000 jobs), the new Mercedes-Benz plant (1,300 jobs) and Volvo plant (2,000 jobs). With recent targeted capex programs complete, new ownership will have the opportunity to complete the in-place value-add program (84% of units remaining) and add nearly $80,000 in annual NOI.
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Planters Trace
96 Units
2222 Ashley River Road
West Ashley, SC  29414
Type: Conventional
Closed: 2/15/2018
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present Parkway Crossing, a 248-unit, 1974-built garden apartment community in East Asheville, NC. Located two miles from Interstate 240, Parkway Crossing is situated within close proximity to some of Asheville’s premier retail destinations, including the Asheville Mall, the largest mall in Western North Carolina. With effective rents trailing its competitors by $161 on average and only light upgrades completed on 28 of the units, the property is primed for a full-scale, market supported value-add program. Additional NOI growth can be achieved by implementation of a water submetering program.
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Parkway Crossing
248 Units
102 La Mancha Drive
Asheville, NC  28805
Type: Conventional
Closed: 1/4/2018
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 415-unit Serenity at Three Rivers apartment community in West Columbia, SC. Built in 1968 - 1974, Serenity at Three Rivers is ideally located just 2 miles west of Downtown Columbia, providing convenient access to major employment centers in both Richland and Lexington counties. The property is finalizing a $5.0 Million CapEx program focused on capital preservation and has fully upgraded eight units that are obtaining $100 - $145 rent premiums on average. In addition, the newly stabilized property offers tremendous organic upside as current rents are $262 below the submarket average. With a comprehensive value-add program bringing rents up to submarket averages, Serenity at Three Rivers would post an additional $1.3 Million in annual NOI.
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Serenity at Three Rivers
415 Units
100 Riverbend Drive
West Columbia, SC  29619
Type: Conventional
Closed: 12/20/2017
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present Palmetto Grove, a 368-unit garden apartment community located in the heart of North Charleston just minutes from Downtown Charleston. With convenient I-26 access, the property is just minutes from Downtown Charleston as well as major employment centers including Boeing (8,200 jobs), Joint Base Charleston (36,000 jobs), the new Mercedes-Benz plant (1,300 jobs) and Volvo plant (2,000 jobs). The property offers significant upside as current rents trail the submarket by $89 and nearby Class A competitors by $192 to $247 on average. The property is also located adjacent to Ingleside - a 1,500 acre mixed-use development currently under construction that will feature over 8 million SF of office, industrial and retail space.
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Palmetto Grove
368 Units
7927 St. Ives Road
North Charleston, SC  29406
Type: Conventional
Closed: 12/18/2017
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present Arbor Creek, a 280-unit, 1969-built garden apartment community located in Raleigh, NC. Conveniently situated in the Cary submarket of the explosive Raleigh-Durham MSA, Arbor Creek provides tenants with close proximity to the area’s premier retail destinations and economic drivers, and a highly sought after school system. Additionally, the submarket’s projected rent growth and occupancy rates of 13% and 97%, respectively, will complement property performance for years to come. With over $3 million in CapEx recently completed, Arbor Creek is a low-maintenance, clean asset with two different levels of proven value-add that have potential to increase annual NOI up to 15% upon completion.
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Arbor Creek
280 Units
5400 Portree Place
Raleigh, NC  27606
Type: Conventional
Closed: 12/15/2017
The Cushman & Wakefield Southeast Multifamily Advisory Group is excited to present the exclusive listing of Park at Clearwater, a 280-unit, 2000 / 2004-built apartment community in Aberdeen, NC. Fueled by its proximity to Fort Bragg, the local economy has blossomed in recent years, posting superior market fundamentals to both the state and Fayetteville. The property’s convenient location offers premiere retail at a walking distance and easy accessibility to the area’s primary economic drivers. Built in 2000 / 2004 with a unique architectural style and following a capital infusion of nearly $650,000, Park at Clearwater is a low-maintenance, quality asset with a proven in-place value-add program. With rents trailing the submarket average and upgraded units proving $95 monthly premiums, incoming investors will have the opportunity to boost annual NOI by an impressive 26%.
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Park at Clearwater
280 Units
800 Churchill Downs Drive
Aberdeen, NC  28315
Type: Conventional
Closed: 12/13/2017
The Cushman & Wakefield Southeast Multifamily Advisory Group is excited to present the exclusive listing of the 296-unit, two-property portfolio consisting of Berkshire Manor (104 units - 1972) and Berkshire Manor West (192 units - 1979). The properties are located across the street from each other in Carrboro, NC just two (2) miles from the University of North Carolina at Chapel Hill. The portfolio offers an outstanding opportunity to invest in two (2) solid performing assets with proven value-add opportunity in an affluent Chapel Hill submarket sheltered from future supply.
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Berkshire Manor & Berkshire Manor West (2 properties, 296 units)
Berkshire Manor
104 Units
101 Highway 54 Bypass
Carrboro, NC  27510
Type: Conventional
Closed: 12/4/2017
The Cushman & Wakefield Southeast Multifamily Advisory Group is excited to present the exclusive listing of the 296-unit, two-property portfolio consisting of Berkshire Manor (104 units - 1972) and Berkshire Manor West (192 units - 1979). The properties are located across the street from each other in Carrboro, NC just two (2) miles from the University of North Carolina at Chapel Hill. The portfolio offers an outstanding opportunity to invest in two (2) solid performing assets with proven value-add opportunity in an affluent Chapel Hill submarket sheltered from future supply.
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Berkshire Manor & Berkshire Manor West (2 properties, 296 units)
Berkshire Manor West
192 Units
112 Highway 54 Bypass
Carrboro, NC  27510
Type: Conventional
Closed: 12/4/2017
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 304-unit, 2013-built Springs at Greenville apartments in Greenville, SC. The property is located just off of Interstate-385 in the heart of the "Industry Triangle," home to 8 of the city’s 10 largest employers and 50,000 jobs. The property’s ideal location also give residents the pleasure of being able to walk to premiere retail destinations along Woodruff Road. Springs at Greenville is a core-plus asset built with a unique architectural style, and has support to boost NOI 14% through a comprehensive interior value-add initiative.
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Springs at Greenville
304 Units
1000 Oak Springs Drive
Greenville, SC  29615
Type: Conventional
Closed: 11/29/2017
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 240-unit The Quarters at Stones Bay located in Sneads Ferry, Onslow County, NC. The asset sits just 3 miles southwest of Camp Lejeune, the area’s largest economic driver. Built in two phases in 2012 and 2014, The Quarters at Stones Bay features an outstanding features and amenities package and presents an opportunity to acquire a top of the market asset at an attractive basis while building upon the already strong property-level economics. Additionally, there is an opportunity to develop 5 commercial outparcels totaling 9.89 acres to add additional scale at the property.
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The Quarters at Stones Bay
240 Units
1001 Quarters Landing Circle
Sneads Ferry, NC  28460
Type: Conventional
Closed: 11/15/2017
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of Magnolia Ridge, a niche 84-unit garden apartment community located in Gaffney, SC. The property is strategically located in close proximity to historic downtown Gaffney and the nationally recognized Limestone College. The property is uniquely positioned in a market with minimal competition and an encouraging value-add story - offering a stable, cash-flowing investment with promising upside. With current rents trailing the submarket by $69, implementation of a value-add program would increase annual NOI by over 33%.
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Magnolia Ridge
84 Units
266 Goldmine Springs Road
Gaffney, SC  29340
Closed: 11/14/2017
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present 901 Center Station, a 400-unit, 1972-built garden apartment community located in Durham, NC. Conveniently situated in a submarket of the explosive Raleigh-Durham MSA, 901 Center Station provides tenants with close proximity to the area’s premier economic drivers including Downtown Durham and the Duke University Health System. With over $3 million in CapEx recently completed, 901 Center Station is a low-maintenance asset with outstanding upside potential through an existing interior value-add initiative and water/sewer income collection from a recently completed submetering program.
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901 Center Station
400 Units
901 Chalk Level Road
Durham, NC  27704
Type: Conventional
Closed: 11/8/2017
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present Woods Edge, a niche 120-unit, 1986-built garden apartment community in an affluent south Asheville, NC neighborhood. Located less than two (2) miles from the famed Biltmore Estate, Woods Edge is prominently situated within close proximity to Asheville’s premier retail destinations including the Historic Biltmore Village and the 750-acre Biltmore Park Town Square. With recent targeted capital improvements completed and a proven value-add program with 53% of the units remaining (64 units), Woods Edge offers significant upside for the next owner. The 56 renovated units are obtaining average rent premiums ranging from $101 to $224 on a $3,900/unit to $5,200/unit renovation scope.
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Woods Edge
120 Units
98 Woodstream Lane
Asheville, NC  28803
Type: Conventional
Closed: 11/6/2017
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present The Corners, a 176-unit, 1973-built garden apartment community conveniently located in Spartanburg, SC. Situated along the commerce-rich I-85 corridor, Spartanburg is the east anchor of the prolific Upstate region, globally recognized for its massive BMW plant (8,800 employed) and burgeoning high-tech economy. The Corners offers a well-maintained asset with a recent targeted capex program completed that included both asset preservation as well as amenity upgrades. The Corners is ideally situated for completion of the proven in-place value-add program which is obtaining $91 to $97 premiums on average. With 109 units remaining to be renovated, The Corners offers the ability to increase annual NOI by 19%.
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The Corners
176 Units
151 Fernwood Drive
Spartanburg, SC  29307
Type: Conventional
Closed: 11/3/2017
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 202-unit, 2014-built Tryon Park at Rivergate apartment community located in Charlotte’s fastest growing submarket. Situated off of a major thoroughfare (43,000 VPD) and bound by an abundance of popular retail destinations, Tryon Park at Rivergate provides a desirable, connected suburban location. Arriving with attractive, below market assumable debt that has over two (2) years IO remaining and room to boost revenue via cosmetic value-add initiatives, this superb asset is perfectly positioned to capitalize on Charlotte’s prolific economic growth.
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Tryon Park at Rivergate
202 Units
12620 Toscana Way
Charlotte, NC  28273
Type: Conventional
Closed: 10/31/2017
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 200-unit, 1989-built Treybrooke at the Park apartments in Morrisville, NC. The property is located in an affluent pocket of the Raleigh-Durham MSA, boasting average household income levels of over $100,000 and home values of $325,000, and is conveniently situated amongst the area’s top employment and retail nodes. Treybrooke at the Park, which features the largest floorplans in the submarket, has experienced 33% market rent growth since September-2013 due to a light interior upgrade package that has been completed on 93% of the units. New ownership has the opportunity to increase annual NOI by an additional 28% through completion of a more comprehensive upgrade program that is supported in the submarket.
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Treybrooke at the Park
200 Units
201 Treybrooke Drive
Morrisville, NC  27560
Type: Conventional
Closed: 10/26/2017
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 100-unit, 1995-built Laurelwood Park apartments in High Point, NC. The property, sanctioned under the Section 42 Affordability Program, is a strong performing asset with promising potential to boost NOI through increasing rents to the 60% AMI limits, which rest approximately $150 above current market rate levels.
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Laurelwood Park
100 Units
1300 Burton Avenue
High Point, NC  27262
Type: LIHTC
Closed: 10/20/2017
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 216-unit South Winds apartment community in the Fayetteville, NC MSA. Built in 1988 / 1997, South Winds is located in close proximity to Fayetteville’s largest employers including Goodyear Tire & Rubber, Pope Field Army Airfield, and Fort Bragg. The property is uniquely positioned to create significant organic growth as average rents in the market are expected to rise by 8% through 2021 as vacancies are forecast to plummet to 4%. South Winds is positioned to boost NOI by 164% through 2021. The lack of Class B competition in the submarket offers a high rent ceiling driven by 2000-built competitors that are obtaining $225 higher rents on average – providing significant value-add rent growth runway for new ownership.
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South Winds
216 Units
90 Duncan Road
Spring Lake, NC  28390-3155
Closed: 10/12/2017
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 192-unit portfolio Creekside at Wellington and Garden Villas in Gaffney, SC and Gastonia, NC, respectively. These strategically located, well-maintained properties are both located less than half a mile off of I-85 with access to major employment centers of the Upstate and Charlotte, while offering investors value-add opportunities in markets with scarce competition. Creekside at Wellington has untapped potential income with existing storage units on site and potential to boost NOI with implementation of a value-add initiative. With a proven value-add program in place, Garden Villas is well positioned to capitalize on Charlotte MSA’s tightening fundamentals.
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Creekside at Wellington & Garden Villas (2 properties, 192 units)
Creekside at Wellington
92 Units
1230 Overbrook Drive
Gaffney, SC  29341
Type: Conventional
Closed: 10/2/2017
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the Arbor Glen and Meadow Green apartment communities in Spartanburg, South Carolina. Situated along the commerce-rich I-85 corridor, Spartanburg is the east anchor of the prolific Upstate region, globally recognized for its massive BMW plant (8,800 employed) and burgeoning high-tech economy. The adjacent subject assets are in desirable east Spartanburg, one mile from the busy East Main Street commercial corridor (Publix, Fresh Market, Aldi). Ripe for value add, these synergistic properties represent outstanding investment potential in the powerful Upstate region.
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Arbor Glen & Meadow Green (2 properties, 272 units)
Arbor Glen
156 Units
1514 Fernwood Glendale Road
Spartanburg, SC  29307
Type: Conventional
Closed: 9/27/2017
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 204-unit, 1997-built Cypress Run apartments located in Columbia, SC. The property is conveniently situated off of Interstate-26, offering residents easy access to the area’s major economic drivers as well as the city’s premier retail corridor. Cypress Run is a quality, strong performing asset – boasting an average economic and physical occupancy of 96% over the trailing twelve (12) months – that has enormous upside potential through an interior upgrade initiative, and a discount to replacement cost.
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Cypress Run
204 Units
3430 Broad River Road
Columbia, SC  29210
Type: Conventional
Closed: 9/27/2017