The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 216-unit, Heron Lake apartment community. Delivered in 2008, Heron Lake is located in the heart of northern Richland County’s path of growth. Residents of Heron Lake enjoy seamless access to the premier retail and employment in an area defined by an exceptional demographic base including an average HHI of over $84,000 within a three-mile radius. Bolstered by large floor plans and outstanding amenities, the property is poised to bridge the +340 delta in effective rents to market competitors through a market-supported value-add initiative.
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Heron Lake
216 Units
1340 North Brickyard Road
Columbia, SC  29223
Type: Conventional
Closed: 5/23/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 240-unit, 1990-built York Ridge apartment community located in one of Charlotte’s fastest growing submarket. Situated off of a major thoroughfare and bound by an abundance of employment and retail destinations, York Ridge provides a desirable, connected suburban location. York Ridge is perfectly positioned to capitalize on Charlotte’s prolific economic development and North Pineville’s projected rent growth providing new ownership the opportunity to expand upon the property’s exceptional operations and high occupancy levels. This superb asset provides new ownership the opportunity to boost revenue via cosmetic value-add initiatives to meet submarket competitors.
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York Ridge
240 Units
13001 York Ridge Drive
Charlotte, NC  28273
Type: Conventional
Closed: 5/23/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 168-unit, Hawk Ridge apartment community in Winston-Salem, NC. Built in 1998, the property offers new ownership significant income upside from completion of a proven unit interior renovation program, and potential for a market-supported second phase of upgrades to push rents. Firmly cemented in a top-tier school system and demographic region ($90,000 HHI 3-mile radius), Hawk Ridge offers seamless connectivity by way of I-40 and US-158 to the premier retail and major employers of Winston-Salem - a metro defined by continued growth and a dwindling unemployment rate.
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Hawk Ridge
168 Units
400 Hawk Ridge Drive
Winston-Salem, NC  27103
Type: Conventional
Closed: 5/9/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of The Commons at Fort Mill, 144-unit apartment community. Delivered in 2009, The Commons at Fort Mill is located in the heart of the thriving Rock Hill / Fort Mill submarket, located just minutes from Fort Mill and Charlotte MSA’s top employers. The property is defined by an exceptional demographic base including an average HHI of over $109,000 within a one-mile radius and 76% white collar employment. Supported by steady operations, The Commons at Fort Mill is setup to bridge the +$275 delta in effective rents to market competitors through a layup value-add initiative, poised to generate premiums of $175.
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The Commons at Fort Mill
144 Units
221 Embassy Drive
Fort Mill, SC  29715
Type: Conventional
Closed: 5/2/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 384-unit Enclave Blythewood apartment community located in the Columbia, SC MSA. Delivered in two phases (2008/15), Enclave Blythewood features high-quality design available significantly below replacement cost. Reinforced by favorable operations, the property is poised for a potential 50% NOI boost driven by a multi-faceted value-add program. Ideally located in North Richland County's affluent and rapidly expanding economic core, Enclave Blythewood is within two miles of 2,600 current jobs and 1,825 recent new jobs announced. Continued employment growth coupled with minimal supply positions Enclave Blythewood to enjoy the benefits of a tightening rental market.
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Enclave Blythewood
384 Units
2051-2 Blythewood Crossing Lane
Blythewood, SC  29016
Type: Conventional
Closed: 4/30/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 164-Unit, Fox Ridge Manor in Raleigh, NC. The property has experienced a surge in organic rent growth due to a recent $1 million capital infusion, including new roofs, paired with its position along the path of progress in Raleigh. Built in 1972, Fox Ridge Manor offers an additional 5.5 acres of excess land and is comprised of a unique set of 2BR and 3BR townhomes with market leading floorplan sizes, while the Southern Raleigh submarket has outpaced the broader metro in occupancy and rent growth. Fox Ridge Manor also offers new ownership the opportunity for an impactful 39% boost to NOI through multiple revenue streams including a recent water/sewer submetering program and a proven value add initiative.
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Fox Ridge Manor
164 Units
2200 Fox Ridge Manor Road
Raleigh, NC  27610
Closed: 4/10/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 288-unit, Crescent Commons apartment community located in Fayetteville, NC. Built in two phases in 2002 and 2006, Crescent Commons offers a highly diverse unit mix with a significant discount to replacement cost as the property recently received a capital infusion of $750,000 in 2017. The property is positioned in walking distance to Fayetteville’s newest retail boom in the Skibo Road corridor, while situated 5.5 miles from the largest military installation in the world, Fort Bragg. The Fayetteville development pipeline is nearing stabilization as the market continues to absorb the delivery spike from 2012-2014, providing new ownership with the opportunity to capitalize on a value-add initiative to capture the rental gap and boost existing annual NOI by 29%.
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Crescent Commons
288 Units
812 Crescent Commons Way
Fayetteville, NC  28314
Closed: 3/27/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 260-unit, 1987-built Paces Run located in Columbia, SC and the 208-unit, 1985-built Chatham Wood located in High Point, NC. Embedded in a strong blue-collar region, both properties sit less than 7 miles from large-scale new and expanding distribution facilities that continue to drive population and organic rent growth. Paces Run recently received a capital infusion of $600,000, including new roofs on all but 2 buildings over the past 5 years, and Chatham Wood has undergone exterior renovations of over $1.2M, prepping the communities for a proven value add initiative that could potentially boost NOI by 32%-35%.
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Chatham Wood & Paces Run (2 properties, 468 units)
Paces Run
260 Units
100 Paces Run Court
Columbia, SC  29223
Type: Conventional
Closed: 3/1/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 168-unit The Chimneys of Greenville apartment community located in Taylors, South Carolina. The Chimneys of Greenville is strategically positioned along I-85 between Atlanta and Charlotte and in the heart of Greenville’s "Industry Triangle." The Chimneys of Greenville provides easy access to Greenville and Spartanburg’s largest employers. In addition, the property is well positioned to realize remarkable benefits and a 36% boost in NOI with the completion of the in-place value-add program.
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The Chimneys of Greenville
168 Units
4990 Old Spartanburg Road
Taylors, SC  29687
Type: Conventional
Closed: 2/27/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 260-unit, 1987-built Paces Run located in Columbia, SC and the 208-unit, 1985-built Chatham Wood located in High Point, NC. Embedded in a strong blue-collar region, both properties sit less than 7 miles from large-scale new and expanding distribution facilities that continue to drive population and organic rent growth. Paces Run recently received a capital infusion of $600,000, including new roofs on all but 2 buildings over the past 5 years, and Chatham Wood has undergone exterior renovations of over $1.2M, prepping the communities for a proven value add initiative that could potentially boost NOI by 32%-35%.
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Chatham Wood & Paces Run (2 properties, 468 units)
Chatham Wood
208 Units
808 Lakecrest Avenue
High Point, NC  27265
Type: Conventional
Closed: 2/19/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of The Pines of Wilmington - a 233-unit apartment community in Wilmington, NC constructed in 1975. Bolstered by recent capital improvements and robust operational momentum, The Pines of Wilmington offers investors a potential +37% boost to annual NOI through completion of an underway, proven value-add program. The asset is firmly cemented in the metro’s highest rent growth submarket that is primed to benefit from development expansion moving southward. In addition, The Pines of Wilmington is in close proximity to the principal economic drivers and premier retail nodes of Wilmington - an MSA characterized by rapid population growth, an expanding employment nucleus, and attractive demographics..
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The Pines of Wilmington
233 Units
1002 Mayflower Drive
Wilmington, NC  28412
Type: Conventional
Closed: 1/17/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of The Apartments at Shade Tree, a 248-unit apartment community located in Johns Island, South Carolina. The property is located in a fast-growing submarket with high visibility off major artery Maybank Highway, which is currently being transformed into four lanes, paving the way for future rental growth as the area continues to expand. With a high rent growth ceiling between the property and its competitors, as well as the immediate opportunity to implement water/sewer and valet trash charges at the property, the property offers tremendous rent and NOI growth upside. The property is being offered at a significant discount to recent nearby trades and replacement cost. With high barriers to new development throughout Charleston, the property is well-positioned to enjoy long-term rent growth and offers an outstanding return on investment.
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The Apartments at Shade Tree
248 Units
2030 Wildts Battery Boulevard
Johns Island, SC  29455
Type: Conventional
Closed: 1/10/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of The Linden (162 units and 5,808 SF of ground-floor retail) and Lakeside (51 units) - a two-property portfolio in Charlotte’s affluent suburb of Davidson, NC. Built in 2016, The Linden is Davidson’s premier mixed-use asset featuring luxurious amenities and sophisticated interiors while offering multi-dimensional income upside through organic gains, and completion of a light-touch value-add program to capture a $200+ rent runway. Built in 1978, Lakeside provides superior organic rent growth potential bolstered by a recent ~$1.7 million targeted capital improvements program. Minimal new supply projected in Davidson, coupled with blue-chip demographics and continued job growth, ideally position the assets in a static competitive environment along Charlotte's path of progress. Offers will be accepted on the full portfolio and/or on individual properties.
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The Linden & Lakeside (2 properties, 213 units)
Lakeside
51 Units
900 Lakeview Avenue
Davidson, NC  28036
Type: Conventional
Closed: 1/9/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 155-unit SoHo on Central apartment community located on Central Avenue in one of Charlotte’s most popular neighborhoods, Plaza Midwood. Implanted in Plaza Midwood and next door to Uptown Charlotte, SoHo on Central is uniquely positioned in a rapidly expanding suburb with strong demographics and high quality employment opportunities. With a proven Value-Add initiative in place and a low replacement cost, potential investors can be sure to see high returns
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SoHo on Central
155 Units
3143 Central Avenue
Charlotte, NC  28205
Type: Conventional
Closed: 1/3/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of The Aventine Greenville - a 346-unit apartment community in burgeoning Greenville, SC. Built in 2013, The Aventine Greenville boasts luxurious amenities/features and high-quality construction that is available for acquisition at an attractive basis. Bolstered by favorable operations, the property is ideally positioned to close the $200+ rent gap to market competitors through completion of a light value-add program. Residents of The Aventine Greenville enjoy walkability to the premier retail outlets in South Greenville - a region defined an exceptional demographic base and a diminishing new development pipeline. In addition, the asset is positioned in the center of Greenville’s thriving "Industry Triangle" as five of the county’s largest employers (10,500+ jobs) are less than two miles from the property.
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The Aventine Greenville
346 Units
97 Market Point Drive
Greenville, SC  29607
Type: Conventional
Closed: 12/20/2018
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 264-unit Bridford West apartment community in rapidly-expanding southwest Greensboro, NC. Built in three phases in 2013 and 2014, Bridford West offers a top-of-the-market features and amenities package rivaling other top assets in the market. The property is ideally located between I-73 and I-40, providing excellent connectivity and access to the area’s top employers and retail. With outstanding demographics and a high rent ceiling, the property is poised for sustained organic rent growth and is being offered at a significant discount to replacement cost, as well as comparable Class A trades in other Carolinas metros.
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Bridford West
264 Units
598 Eagle Road
Greensboro, NC  27407
Type: Conventional
Closed: 12/19/2018
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of The Linden (162 units and 5,808 SF of ground-floor retail) and Lakeside (51 units) - a two-property portfolio in Charlotte’s affluent suburb of Davidson, NC. Built in 2016, The Linden is Davidson’s premier mixed-use asset featuring luxurious amenities and sophisticated interiors while offering multi-dimensional income upside through organic gains, and completion of a light-touch value-add program to capture a $200+ rent runway. Built in 1978, Lakeside provides superior organic rent growth potential bolstered by a recent ~$1.7 million targeted capital improvements program. Minimal new supply projected in Davidson, coupled with blue-chip demographics and continued job growth, ideally position the assets in a static competitive environment along Charlotte's path of progress. Offers will be accepted on the full portfolio and/or on individual properties.
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The Linden & Lakeside (2 properties, 213 units)
The Linden
162 Units
605 Jetton Street
Davidson, NC  28036
Type: Conventional
Closed: 12/13/2018
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the 312-unit, Ashley Grove. The property, built in 1968 and 1973, is located in the heart of West Ashley, one of Charleston’s fastest growing submarkets, just minutes from Downtown Charleston as well as other 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 recent adoption of "Plan West Ashley", a master plan intended to spur economic development in the area through public-private partnership, will serve as a catalyst for growth in the submarket. Ashley Grove, offers new ownership to have the opportunity to complete the in-place value-add programs to further boost NOI across the property
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Ashley Grove
312 Units
1735 Ashley Hall Road
Charleston, SC  29407
Type: Conventional
Closed: 11/30/2018
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 204-unit Copus 1 Indian Trail apartment community in the exploding Charlotte, NC suburb of Indian Trail. Built in 2017, and one of only two properties within three miles delivered after 2000, Copus 1 Indian Trail is the premier asset in the underserved Union County submarket. Recently stabilizing in Feb-2018 after an impressive one-year lease-up, the property offers immediate organic upside within a competitive environment that is insulated from future supply and boasts a high rent growth ceiling. In addition, Copus 1 Indian Trail is supremely positioned in the desirable town of Indian Trail - a region defined by affluence, dominant white collar employment, and exponential population and job growth.
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Copus 1 Indian Trail
204 Units
1021 Glenn Valley Lane
Indian Trail, NC  28079
Type: Conventional
Closed: 11/15/2018
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of St. Andrews Reserve - a 390-unit apartment community in Wilmington, NC constructed in two phases (1999 / 2003). Bolstered by recent capital improvements and robust operational momentum, St. Andrews Reserve offers investors a potential +18% boost to annual NOI through completion of an in-process, proven value-add program. The asset is firmly cemented in the metro’s highest rent growth submarket that is primed to benefit from development expansion moving southward. In addition, St. Andrews Reserve is in close proximity to the premier retail nodes and principal economic drivers of Wilmington - a MSA characterized by rapid population growth, an expanding employment nucleus, and attractive demographics.
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St. Andrews Reserve
390 Units
814 St. Andrews Drive
Wilmington, NC  28412
Type: Conventional
Closed: 10/31/2018
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of The Reserve at Magnolia Ridge, a 360-unit apartment community in Cary, NC less than 3 miles from Cary’s first Wegmans scheduled to deliver in 2020. Built in 1984, and bolstered by a recent $2.1 million capital infusion, the property offers new ownership significant income upside from completion of a proven unit interior renovation program, and potential for a market-supported second phase of upgrades to push rents. Firmly cemented in a solid demographic region (3.1% unemployment within one mile), the property offers seamless connectivity to Raleigh-Durham’s largest job centers by way of I-40 / US-64. Residents enjoy superior access to Cary’s premier retail outlets - Crossroads Plaza (681,067 SF) and Cary Towne Center (910,200 SF).
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The Reserve at Magnolia Ridge
360 Units
101 Harlon Drive
Cary, NC  27511
Type: Conventional
Closed: 10/25/2018
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 144-unit Salem Crest apartment community located in Winston-Salem, NC. Built in 1995, the property (which is sanctioned under the Section 42 Affordability Program) has recently received nearly $550,000 in capital improvements and demonstrated favorable operational momentum in the trailing 90 days. Drafting off of this positive trend, the asset provides an opportunity for a 12% boost to annual NOI through capture of the current rent gap between lease rent and the 60% AMI limits. Located adjacent to I-40, Salem Crest residents enjoy seamless access to the premier retail and major employers of Winston-Salem - a metro defined by continued population growth and a dwindling unemployment rate.
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Salem Crest
144 Units
105 Brent View Court
Winston-Salem, NC  27103
Type: LIHTC
Closed: 10/17/2018
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 305-unit The Lively at Carolina Forest apartment community located in Myrtle Beach, SC. Featuring awe-inspiring curb appeal, top-of-the-line interiors and a market leading amenity package, The Lively at Carolina Forest is truly the premier multifamily asset in Myrtle Beach. Located in the self-sustaining planned community of Carolina Forest, the property offers an unmatched quality of life and is in close proximity to Myrtle Beach’s most coveted retail and entertainment destinations. Nearing completion of a rapid concession-free lease-up, the property offers exciting loss-to-lease upside of over $248,000 as 2nd generation leases are brought to market levels. With metro job growth expected to outpace new deliveries by 20:1 through 2021, The Lively at Carolina Forest is uniquely positioned to capitalize on long-term favorable fundamentals.
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Lively at Carolina Forest
305 Units
107 Village Center Boulevard
Myrtle Beach, SC  29579
Type: Conventional
Closed: 10/3/2018
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 464-unit Columbia Portfolio, consisting of 240-unit Peachtree Place and 224-unit St. Andrews apartment communities in Columbia, SC. Built in 1971 and 1974, Peachtree Place and St. Andrews are located in a highly accessible location providing convenient access to downtown Columbia and the area’s largest employers. The assets are also barbelled by Downtown Columbia and the Harbison Boulevard area, resulting in seamless accessibility to Columbia’s premier retail nodes. In addition, the properties are uniquely positioned to realize tremendous benefits of an expanded, and submarket-proven, value-add initiative with potential to boost combined NOI by 43%.
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St. Andrews
224 Units
601 St. Andrews Road
Columbia, SC  29210
Type: Conventional
Closed: 9/28/2018