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Displaying results 97-120 of 302
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Bristol in Greenville, SC. The Bristol is a 258-unit community uniquely located in an affluent neighborhood that boasts impressive demographics of $120,000+ average household income, 75% white collar workers and home values as high as $1.69M in a 1-mile radius. Surrounded by high end retailers, Greenville Country Club, and across the street from Swamp Rabbit Trail (22-mile multi-use greenway), The Bristol offers an unmatched "live-work-play" lifestyle to residents. In addition to nearby amenities, the community provides direct access to 130,000+ jobs including Greenville Memorial Hospital, BMW, Fluor Engineering and TD Bank, all within a 5-mile radius. Built in 1971, The Bristol is an extremely well-maintained community that received a large capital infusion in 2013, stripping the units nearly down to the studs and repositioning the entire property. Lagging Downtown and Class A rents by $400+, new ownership has an opportunity to enhance the community by renovating unit interiors bringing finishes in-line with top of the market competitors to achieve $130-$180 rental premiums.
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The Bristol
258 Units
926 Cleveland Street
Greenville, SC  29601
Closed: 8/31/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the Carolinas Value-Add 5 Portfolio - five assets totaling 993 units, located in the desirable submarkets of Columbia, SC, Greenwood, SC, Florence, SC, and Greensboro, NC. The portfolio represents a significant value creation opportunity to invest in strong quality assets that have received a combined +$13.9 million in Capex across two southeastern high-growth states. Situated in bustling micro locations with high barriers to entry, these assets are poised for substantial growth with unparalleled access to a plethora of jobs, higher education, strong household income growth, and seamless connectivity to major thoroughfares. The portfolio arrives with an opportunity to perform a proven, successful value-add campaign on 56% (556) of the units. Built in 1949-1988, the Carolinas Value-Add 5 Portfolio presents an excellent value-add framework to build upon.
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Carolinas Value-Add 5 Portfolio (5 properties, 992 units)
Village at Rankin
130 Units
3237 Yanceyville Street
Greensboro, NC  27405
Type:  Multifamily
Closed: 8/24/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 307-unit Villages of Chapel Hill apartment community located in Carrboro, NC. The property rents to a highly educated, affluent submarket with average household incomes of $103K and 74% of renters holding a Bachelor’s Degree or higher within a 3 mile radius. With the largest supply wave already in the rear-view mirror, growing demand of Chapel Hill paired with Carrboro’s limited supply (only 94 units delivered in the last 10 years) poises the property for consistent returns for years to come. Built in 1973/1984, Villages of Chapel Hill offers an outstanding opportunity to invest in a quality asset that has received over $975K in capital expenditures in the past 2 years, providing incoming owners with a strong value-add framework to add Washer/Dryer appliance rentals along with light upgrades to achieve 25% boost to T3 NOI.
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Villages of Chapel Hill
307 Units
1000 Smith Level Road
Carrboro, NC  27510
Type:  Multifamily
Closed: 8/24/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Blue Ridge Apartments, a 48-unit asset located in Raleigh, North Carolina. Blue Ridge Apartments is a student occupied property adjacent to North Carolina State University, located within one of the strongest performing MSAs in the country over the past several years. Centered in the West Raleigh submarket with growing demand and limited supply, new ownership has the opportunity continue student, per-bed operations supported by NC State’s presence or convert to conventional market rate and reduce expenses through operational efficiencies. Built in 2008, the property is showing strong operational momentum and is primed for a value-add initiative that could generate an additional $107K in annual revenue and boost NOI by 26%.
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Blue Ridge Apartments
48 Units | 96 Beds
601 Crimson Cross Court
Raleigh, NC  27606
Closed: 8/20/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 212-unit, 1986-built Huntington Apartments in Morrisville, NC. The property is located in an affluent pocket of the Raleigh-Durham MSA, boasting median household income levels of over $100,000 and home values of $357,000, and is conveniently situated amongst the area’s top employment and retail nodes. The Morrisville submarket has seen 152% population growth over the past twenty years priming the area for projected 12% rent growth through 2023. New ownership has the opportunity to increase annual revenue by $496K through a comprehensive value-add program that will boost NOI 33%.
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Huntington
212 Units
2408 Duck Pond Circle
Morrisville, NC  27560
Type:  Multifamily
Closed: 8/6/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Woodlands Landing at Echo Farms, a 176-unit, 2020-built Class A community located in the southern portion of Wilmington, NC. The property benefits from an ideal location to varied retail, entertainment options, high-quality schools, top employers, and the largest hospital in Wilmington. Already stabilized after a rapid lease-up period, the property is perfectly positioned to capitalize on organic rent growth while also substantiating the demand for new construction Build-to-Rent Townhome product in the market. In addition, the property’s curated amenities and its location in a strong rent projection submarket present an ideal confluence for rent growth. Woodlands Landing at Echo Farms represents an outstanding opportunity to invest in a newly-built, stabilized Class A asset with $230+ rental headroom.
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Woodlands Landing at Echo Farms
176 Units
3215 Midvale Drive
Wilmington, NC  28412
Closed: 8/2/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 296 unit Berkshire-54 apartment community located in Carrboro, NC. The property rents to a highly educated, affluent submarket with average household incomes of $115K and 74% of renters holding a Bachelor’s Degree or higher within a 3 mile radius. With the largest supply wave already in the rear-view mirror, growing demand of Chapel Hill paired with Carrboro’s limited supply (only 94 units delivered in the last 10 years) poises the property for consistent returns for years to come. Built in 1972/1978, Berkshire-54 offers an outstanding opportunity to invest in a quality asset providing incoming owners with a strong value-add framework to complete interior renovations and generate an additional $366K in annual income culminating in a 22% boost to T12 NOI.
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Berkshire 54
296 Units
112 Highway 54 Bypass
Carrboro, NC  27510
Type:  Multifamily
Closed: 7/30/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the Carolinas Value-Add 5 Portfolio - five assets totaling 993 units, located in the desirable submarkets of Columbia, SC, Greenwood, SC, Florence, SC, and Greensboro, NC. The portfolio represents a significant value creation opportunity to invest in strong quality assets that have received a combined +$13.9 million in Capex across two southeastern high-growth states. Situated in bustling micro locations with high barriers to entry, these assets are poised for substantial growth with unparalleled access to a plethora of jobs, higher education, strong household income growth, and seamless connectivity to major thoroughfares. The portfolio arrives with an opportunity to perform a proven, successful value-add campaign on 56% (556) of the units. Built in 1949-1988, the Carolinas Value-Add 5 Portfolio presents an excellent value-add framework to build upon.
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Carolinas Value-Add 5 Portfolio (5 properties, 992 units)
LIVE Gate City
100 Units
3227 Orange Street
Greensboro, NC  27405
Type:  Multifamily
Closed: 7/29/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the Carolinas Value-Add 5 Portfolio - five assets totaling 993 units, located in the desirable submarkets of Columbia, SC, Greenwood, SC, Florence, SC, and Greensboro, NC. The portfolio represents a significant value creation opportunity to invest in strong quality assets that have received a combined +$13.9 million in Capex across two southeastern high-growth states. Situated in bustling micro locations with high barriers to entry, these assets are poised for substantial growth with unparalleled access to a plethora of jobs, higher education, strong household income growth, and seamless connectivity to major thoroughfares. The portfolio arrives with an opportunity to perform a proven, successful value-add campaign on 56% (556) of the units. Built in 1949-1988, the Carolinas Value-Add 5 Portfolio presents an excellent value-add framework to build upon.
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Carolinas Value-Add 5 Portfolio (5 properties, 992 units)
LIVE Florence
144 Units
318 East Royal Street
Florence, SC  29506
Closed: 7/28/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 84-unit Magnolia Ridge garden apartment community located in Gaffney, SC. This asset is strategically located in close proximity to historic downtown Gaffney and the nationally recognized Limestone College. Magnolia Ridge offers new ownership an opportunity to continue implementing the value-add campaign bringing features to the current renovated levels which are achieving average premiums of $70 across all unit sizes.
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Magnolia Ridge
84 Units
266 Goldmine Springs Road
Gaffney, SC  29340
Closed: 7/28/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 1994-built, 110-unit Paladin apartment community and the 1993/1995-built, 44-unit Magnolia Trace, located in growing Greenville, NC. The properties are strategically situated in the path of growth, located within a mile of the ECU College of Nursing, ECU Brody School of Medicine, College of Allied Health Sciences, and Pitt County’s top employer, Vidant Medical Center. Each property offers an untapped value-add opportunity across all units for NOI boosts through a multi-pronged interior upgrade initiative with additional Other Income revenue streams. Greenville’s infrastructure will continue to urbanize as it shifts from an agricultural/manufacturing hub to Medical expertise & white collar workforce, while government employment provides an economic anchor during this generational transition. With no new deliveries scheduled in the area, Paladin and Magnolia Trace are poised to for strong performance with a stout location and sound market fundamentals for years to come.
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Magnolia Trace & Paladin (2 properties, 154 units)
Paladin Apartments
110 Units
400 Paladin Drive
Greenville, NC  27834
Closed: 7/21/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 1994-built, 110-unit Paladin apartment community and the 1993/1995-built, 44-unit Magnolia Trace, located in growing Greenville, NC. The properties are strategically situated in the path of growth, located within a mile of the ECU College of Nursing, ECU Brody School of Medicine, College of Allied Health Sciences, and Pitt County’s top employer, Vidant Medical Center. Each property offers an untapped value-add opportunity across all units for NOI boosts through a multi-pronged interior upgrade initiative with additional Other Income revenue streams. Greenville’s infrastructure will continue to urbanize as it shifts from an agricultural/manufacturing hub to Medical expertise & white collar workforce, while government employment provides an economic anchor during this generational transition. With no new deliveries scheduled in the area, Paladin and Magnolia Trace are poised to for strong performance with a stout location and sound market fundamentals for years to come.
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Magnolia Trace & Paladin (2 properties, 154 units)
Magnolia Trace Townhomes
44 Units
905-911 Allen Road
Greenville, NC  27834
Closed: 7/20/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 256-unit, Meriwether Place apartment community located in Durham, NC. Built in 1996/1998, this asset received a capital investment of over $1.7 million in exterior amenities and interior upgrades. The property has completed high-end renovations on 11 trial units, of which are leasing up to $1,300 per month, giving investors the opportunity to capitalize on the remaining 245 units paired with the ability to implement multi-pronged revenue streams. Meriwether Place is situated in a bargain submarket with a diverse workforce ranging from manufacturing to global tech industries, as surrounding submarkets vastly outpace East Durham rental rates but offer equal work commutes to employment hubs. The growing infrastructure of Durham paired with muted supply in the submarket defines Meriwether Place as a strong asset with a positive outlook.
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Meriwether Place
256 Units
4001 Meriwether Drive
Durham, NC  27704
Type:  Multifamily
Closed: 7/14/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 56-unit Glenside Woods apartment community located in Greensboro, NC. This property offers investors a rare opportunity to invest in a unique, under-performing asset firmly situated in one of the fastest growing submarkets of the Triad. As submarket household incomes approach $90K+ paired with a muted delivery pipeline, the market indicates support for higher-end finishes in the surrounding areas, as Greensboro shifts its focus to target a white-collar workforce through educational attainment. New ownership will have the opportunity to boost NOI by 37% through the continuation of a proven value-add program and implementation of utility reimbursements.
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Glenside Woods
56 Units
1621 Glenside Dr
Greensboro, NC  27405
Closed: 7/1/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 206-unit Tree Top apartment community located in Raleigh, NC. This asset is situated in the rapidly-expanding North Hills area, a submarket transitioning into a new employment hub as Advanced Auto Parts leads the way with a new HQ only a mile from the property. Outstanding demographic trends paired with a 11% home value growth over the past 12 months have brought national investor recognition to the area as urban development materializes. The community is primed for a market backed, multifaceted value-add initiative targeting unit amenity enhancements and interior upgrades, with potential to increase NOI by 41%. Tree Top is a strong asset situated in a market with an advantageous rent forecast, low unemployment rate, wealthy workforce, and growing population.
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Tree Top
206 Units
1328 Steinbeck Drive
Raleigh, NC  27609
Type:  Multifamily
Closed: 7/1/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 120-unit Summerlin Ridge apartment community. The asset is situated adjacent the region’s largest concentration of retail along Hanes Mall Boulevard and also benefits from a proximate location to I-40 as well as major local highways providing unmatched connectivity throughout the region. The South Winston-Salem Submarket continues to see impressive year-over-year rent growth. An increasingly wealthy population in the immediate 3-mile radius and lack of new deliveries create ideal conditions to support the projected 3.3% average annual rent growth through 2025. Built in 2004, Summerlin Ridge offers investors a proven, high-end value-add platform charging $240 premiums that upon completion would result in a 28% increase to NOI.
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Summerlin Ridge
120 Units
2425 Summerlin Ridge Road
Winston-Salem, NC  27103
Type:  Multifamily
Closed: 6/30/2021
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 158-unit Hawthorne Centre North and the 78-unit Hawthorne Lofts South located in the center of Wilmington, NC, the 3rd fastest growing city in the state. These offerings can be purchased individually or as a portfolio. Built in 1996/1990, this well-maintained portfolio has received over $3.5 million in capital improvements since 2013, implementing property-wide roof replacements in 2019 and significant amenity enhancements along with light upgrades throughout the units. The area has received a massive influx of new residents, as Wilmington explodes in population growth due to in-migration accelerated by the pandemic, as remote workers love the affordable beach lifestyle and beautiful scenery that Wilmington has to offer. Impressive leasing trends are expected to continue with Wilmington, NC ranking as a top 20 city in the United States for inbound population growth in 2020. Both properties are top performers in their submarket by holding a 98% occupancy average over the past 15 months. Current renovations at the Hawthorne Centre North and Hawthorne Lofts South are achieving rent premiums of $75 and $95, respectively. Despite this impressive performance, the market indicates there is an opportunity for a higher-end value-add program that would result in a potential boost to NOI by 28%-37%, along with the potential to implement additional revenue streams.
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Hawthorne Centre North and Lofts South (2 properties, 236 units)
Hawthorne Centre North
158 Units
5208 Ringo Drive
Wilmington, NC  28405
Type:  Multifamily
Closed: 6/28/2021
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 158-unit Hawthorne Centre North and the 78-unit Hawthorne Lofts South located in the center of Wilmington, NC, the 3rd fastest growing city in the state. These offerings can be purchased individually or as a portfolio. Built in 1996/1990, this well-maintained portfolio has received over $3.5 million in capital improvements since 2013, implementing property-wide roof replacements in 2019 and significant amenity enhancements along with light upgrades throughout the units. The area has received a massive influx of new residents, as Wilmington explodes in population growth due to in-migration accelerated by the pandemic, as remote workers love the affordable beach lifestyle and beautiful scenery that Wilmington has to offer. Impressive leasing trends are expected to continue with Wilmington, NC ranking as a top 20 city in the United States for inbound population growth in 2020. Both properties are top performers in their submarket by holding a 98% occupancy average over the past 15 months. Current renovations at the Hawthorne Centre North and Hawthorne Lofts South are achieving rent premiums of $75 and $95, respectively. Despite this impressive performance, the market indicates there is an opportunity for a higher-end value-add program that would result in a potential boost to NOI by 28%-37%, along with the potential to implement additional revenue streams.
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Hawthorne Centre North and Lofts South (2 properties, 236 units)
Hawthorne Lofts South
78 Units
351 Red Wing Lane
Wilmington, NC  28403
Type:  Multifamily
Closed: 6/28/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 232-unit Preserve at Woods Lake apartment community located in Greenville, SC. This asset is situated in the Central Greenville submarket which is characterized by its impressive 3-mile demographics as average HHI’s are $87k+ and projected to rise 14% through 2025, 46% of the population has a Bachelor’s Degree or higher and 67% of people work a white collar job. Built in 1997, Preserve at Woods Lake offers new ownership an opportunity to implement a value-add 2.0 campaign to align the property with features that rival Class-A product in the market and command average premiums of $129 across all unit sizes.
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Preserve at Woods Lake
232 Units
412 Woods Lake Road
Greenville, SC  29607
Type:  Multifamily
Closed: 6/16/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 45-unit, Monarch apartment community located in Durham, NC. Built in 1965, the property recently completed high-end unit turns, providing investors with a competitive asset at a discount to replacement cost. The surrounding market indicates that potential investors can take the current mid-tier renovations a step further with the opportunity to boost NOI by over 61% through implementation of an enhanced value add program. As Downtown Durham continues to revitalize its infrastructure, this quality, low maintenance asset is primed to capture the incoming workforce spillover as the city continues to attract new and expanding Tech/ Life Sciences/Healthcare employers, resulting in an affluent and educated labor pool.
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Monarch
45 Units
1001 Ruby Street
Durham, NC  27704
Closed: 6/15/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 96-unit Retreat at the Park apartment community located in Anderson, SC. This asset is situated in the blossoming Anderson submarket which boasts the state’s best projected average effective rent growth (12%) while maintaining steady occupancy levels (96%) over the next 4 years and a limited multifamily development pipeline. Built in 1960, The Retreat at the Park offers new ownership an outstanding opportunity to invest in an asset nestled in a promising submarket with strong supporting fundamentals and potential to renovate all 96 units (100%) to realize $157 premiums over current leased rents.
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Retreat at the Park
96 Units
170 River Oak Drive
Anderson, SC  29624
Closed: 6/15/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Enclave at Pamalee Square, a 242-unit apartment community located in Fayetteville, North Carolina. Surrounded by the region’s prominent thoroughfares residents of Enclave at Pamalee Square enjoy convenient access to prime retail and dining, as well as the largest employers in the city, including Fort Bragg. Enclave at Pamalee Square offers investors the opportunity to invest in a strong performing asset showing impressive operational momentum through 2020 and into 2021. The asset is primed for a value-add program to capitalize on market rental head room in a recession proof market that ranked #1 in annual effective rent growth in 4Q20 out of 150 ranked markets.
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Enclave at Pamalee Square
242 Units
1014 Enclave Drive
Fayetteville, NC  28301
Type:  Multifamily
Closed: 6/14/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 102-unit Chambers Ridge apartment community located in Carrboro, NC. This asset is situated on the Jones Ferry Rd/ NC-54 interchange with immediate access to the area’s premier retailers and economic drivers - Raleigh, Durham, and Research Triangle Park. Chambers Ridge rents to a highly educated, affluent submarket with average household incomes of +$105K and 74% of renters holding a Bachelor’s Degree or higher within a 3 mile radius. With the largest supply wave already in the rear-view mirror, growing demand of Chapel Hill paired with Carrboro’s limited supply (only 94 units delivered since 1997) poises the property for consistent returns for years to come. Built in 1985, Chambers Ridge offers an outstanding opportunity to invest in a quality asset that has received over $500K in capital expenditures including high-end unit finishes primed for organic rent growth.
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Chambers Ridge
102 Units
201 Westbrook Drive
Carrboro, NC  27510
Type:  Multifamily
Closed: 6/11/2021
Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present Turnpike Townhomes (the "Property"), a pristine 100-unit apartment community built in 2008 located in Danville, Virginia. The Property is well positioned within the market to take advantage of the rapid economic growth and development driven by Caesars Entertainment Group’s commitment to spend $400 million to open a premier destination resort casino in Danville. Located along the southern border of Virginia, 70 miles south of Roanoke, Virginia, and 45 miles northeast of Greensboro, North Carolina, Danville is currently experiencing an economic resurgence which has generated sustained economic growth resulting in pre-COVID unemployment levels at an 18-year record low of 4.40%. The area is a significant hub for advanced manufacturing with major employers including both national and international companies and the home of Sovah Health, a 250-bed major regional hospital that employs over a thousand professionals. The Property is owned and managed by a private individual and the opportunity exists to introduce significant efficiencies on the income side including organic rental growth and utility expense recapture to create long term value and stable cash flow for a new investor.
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Turnpike Townhomes
100 Units
1300 Franklin Turnpike
Danville, VA  24540
Type:  Multifamily
Closed: 6/11/2021
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