The Cushman & Wakefield Multifamily Advisory Group is pleased to present the exclusive listing of the Sterling 7 Southeast Portfolio - 7 assets totaling 1,624 units, located in the desirable submarkets of Atlanta, GA, Savannah, GA, Greenville, SC, Raleigh, NC, and Richmond, VA. The portfolio represents a significant value creation opportunity to invest in strong quality assets where significant Capex has already been invested. Situated in bustling micro locations across high-growth Southeastern states, these assets are poised for substantial growth with unparalleled access to a plethora of jobs and seamless connectivity to major thoroughfares. Built in 1964-1986, the Sterling 7 Southeast Portfolio presents an excellent value-add framework to build upon.
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Sterling 7 Southeast Portfolio (7 properties, 1,624 units)
Sterling Collier Hills
120 Units
1760 Northside Drive
Atlanta, GA  30318
Type:  Multifamily
Closed: 11/3/2021
The Cushman & Wakefield Multifamily Advisory Group is pleased to present the exclusive listing of the Sterling 7 Southeast Portfolio - 7 assets totaling 1,624 units, located in the desirable submarkets of Atlanta, GA, Savannah, GA, Greenville, SC, Raleigh, NC, and Richmond, VA. The portfolio represents a significant value creation opportunity to invest in strong quality assets where significant Capex has already been invested. Situated in bustling micro locations across high-growth Southeastern states, these assets are poised for substantial growth with unparalleled access to a plethora of jobs and seamless connectivity to major thoroughfares. Built in 1964-1986, the Sterling 7 Southeast Portfolio presents an excellent value-add framework to build upon.
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Sterling 7 Southeast Portfolio (7 properties, 1,624 units)
Sterling Glenwood
254 Units
3939 Glenwood Avenue
Raleigh, NC  27612
Type:  Multifamily
Closed: 10/29/2021
OM AVAILABLE SOON
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present The Morris at Belmont, a proposed 322-unit apartment community development project located in Belmont, NC. The property will be ideally situated in the burgeoning city of Belmont, which is located only 20 minutes from Uptown Charlotte and has nearby proximity to Charlotte’s U.S. National Whitewater Center, Charlotte Douglas International Airport, and access to key job centers, which includes not only the new 2.5M SF Amazon facility and the Water Ridge Office Park, but also Charlotte’s integral employment nodes. In addition, the property will benefit from the proposed expansion of Charlotte’s LYNX Light Rail, which would be within walking distance of the property, as well as a Greenway Initiative that would deliver with the project, allowing for expanded pedestrian space and greenways in Belmont. The property will represent a best-in-class asset for the Belmont submarket with premier amenities and curated, luxury unit features. The Morris at Belmont offers an outstanding opportunity to invest in a new development opportunity for Class A institutional-quality product in one of Charlotte’s up-and-coming submarkets.
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The Morris at Belmont (Equity Raise)
322 Units
6900 Wilkinson Boulevard
Belmont, NC  28012
Type:  Multifamily
Closed: 10/22/2021
The Cushman & Wakefield Multifamily Advisory Group is pleased to present the exclusive listing of the Sterling 7 Southeast Portfolio - 7 assets totaling 1,624 units, located in the desirable submarkets of Atlanta, GA, Savannah, GA, Greenville, SC, Raleigh, NC, and Richmond, VA. The portfolio represents a significant value creation opportunity to invest in strong quality assets where significant Capex has already been invested. Situated in bustling micro locations across high-growth Southeastern states, these assets are poised for substantial growth with unparalleled access to a plethora of jobs and seamless connectivity to major thoroughfares. Built in 1964-1986, the Sterling 7 Southeast Portfolio presents an excellent value-add framework to build upon.
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Sterling 7 Southeast Portfolio (7 properties, 1,624 units)
Sterling Pelham
422 Units
230 Pelham Road
Greenville, SC  29615
Type:  Multifamily
Closed: 10/21/2021
The Cushman & Wakefield Multifamily Advisory Group is pleased to present the exclusive listing of the Sterling 7 Southeast Portfolio - 7 assets totaling 1,624 units, located in the desirable submarkets of Atlanta, GA, Savannah, GA, Greenville, SC, Raleigh, NC, and Richmond, VA. The portfolio represents a significant value creation opportunity to invest in strong quality assets where significant Capex has already been invested. Situated in bustling micro locations across high-growth Southeastern states, these assets are poised for substantial growth with unparalleled access to a plethora of jobs and seamless connectivity to major thoroughfares. Built in 1964-1986, the Sterling 7 Southeast Portfolio presents an excellent value-add framework to build upon.
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Sterling 7 Southeast Portfolio (7 properties, 1,624 units)
Sterling Westchester
116 Units
300 Pelham Road
Greenville, SC  29615
Type:  Multifamily
Closed: 10/21/2021
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 160-unit Landmark Woods & Basswood apartment communities located in Florence, SC. These assets are strategically located by the I-20 and I-95 interchange in a well-off neighborhood near Florence Country Club, healthcare & industrial jobs, and an active retail corridor. The average household’s income within one-mile are $75K+ (Landmark Woods) and $88K+ (Basswood), and projected to increase 13.1% and 10.1% respectively by 2025. Built in 1965/2001, Landmark Woods & Basswood provides a rare upside opportunity to implement a new renovation program to bridge the $200+ submarket rent gap.
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Landmark Woods & Basswood (2 properties, 160 units)
Basswood
56 Units
400 Third Loop Road
Florence, SC  29505
Closed: 10/13/2021
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 160-unit Landmark Woods & Basswood apartment communities located in Florence, SC. These assets are strategically located by the I-20 and I-95 interchange in a well-off neighborhood near Florence Country Club, healthcare & industrial jobs, and an active retail corridor. The average household’s income within one-mile are $75K+ (Landmark Woods) and $88K+ (Basswood), and projected to increase 13.1% and 10.1% respectively by 2025. Built in 1965/2001, Landmark Woods & Basswood provides a rare upside opportunity to implement a new renovation program to bridge the $200+ submarket rent gap.
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Landmark Woods & Basswood (2 properties, 160 units)
Landmark Woods
104 Units
1400 Cherokee Road
Florence, SC  29501
Closed: 10/13/2021
The Cushman & Wakefield Multifamily Advisory Group is pleased to present the exclusive listing of the Sterling 7 Southeast Portfolio - 7 assets totaling 1,624 units, located in the desirable submarkets of Atlanta, GA, Savannah, GA, Greenville, SC, Raleigh, NC, and Richmond, VA. The portfolio represents a significant value creation opportunity to invest in strong quality assets where significant Capex has already been invested. Situated in bustling micro locations across high-growth Southeastern states, these assets are poised for substantial growth with unparalleled access to a plethora of jobs and seamless connectivity to major thoroughfares. Built in 1964-1986, the Sterling 7 Southeast Portfolio presents an excellent value-add framework to build upon.
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Sterling 7 Southeast Portfolio (7 properties, 1,624 units)
Sterling Beaufont
312 Units
6839 Carnation Road
Richmond, VA  23225
Closed: 10/5/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is excited to present the exclusive listing of Anker Haus, a 49-unit, 2020-built Class A Build for Rent Townhome community located in one of Charlotte’s most prominent submarkets, Plaza Midwood. Defined by its eclectic, densely concentrated mix of bars, restaurants, and retail, this entertainment center is also home to an affluent, white-collar employee base. As the first pocket neighborhood introduced to Charlotte, Anker Haus’ Build to Rent Townhome product offers chic, European-influenced townhomes with expansive floorplans and curated unit features. Plaza Midwood’s inactive pipeline, strong rent projections, Charlotte’s resilient net migration, and Anker Haus’ recent stabilization result in a perfect confluence for new ownership to comfortably capitalize on organic rent growth. Less than a mile from the center of Plaza Midwood, the property is also ideally situated near Charlotte’s largest job node, Center City, as well as the largest healthcare campus in Charlotte. Anker Haus represents an outstanding opportunity to invest in a newly built, recently stabilized Class A Build to Rent Townhome community.
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Anker Haus
49 Units
2925 Commonwealth Avenue
Charlotte, NC  28205
Closed: 10/4/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 240-unit Carrington Place at Wildewood apartment community located in Columbia, SC. Built in 2005, Carrington Place at Wildewood has been meticulously maintained by institutional ownership and is the premier asset in the market. Nestled in the affluent Wildewood neighborhood, the large floor plans with 9ft ceilings and serene setting (over 29 Acres) offer investors a unique opportunity to further enhance the in-place value-add program. By taking all units to C&W’s proposed renovation level, a new investor will receive monthly rental premiums up to $360 for an ROI of 44%.
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Carrington Place at Wildewood
240 Units
751 Mallet Hill Road
Columbia, SC  29223
Type:  Multifamily
Closed: 9/30/2021
The Cushman & Wakefield Multifamily Advisory Group is pleased to present the exclusive listing of the Sterling 7 Southeast Portfolio - 7 assets totaling 1,624 units, located in the desirable submarkets of Atlanta, GA, Savannah, GA, Greenville, SC, Raleigh, NC, and Richmond, VA. The portfolio represents a significant value creation opportunity to invest in strong quality assets where significant Capex has already been invested. Situated in bustling micro locations across high-growth Southeastern states, these assets are poised for substantial growth with unparalleled access to a plethora of jobs and seamless connectivity to major thoroughfares. Built in 1964-1986, the Sterling 7 Southeast Portfolio presents an excellent value-add framework to build upon.
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Sterling 7 Southeast Portfolio (7 properties, 1,624 units)
Sterling Bluff
216 Units
201 West Montgomery Cross Rd
Savannah, GA  31406
Type:  Multifamily
Closed: 9/30/2021
The Cushman & Wakefield Multifamily Advisory Group is pleased to present the exclusive listing of the Sterling 7 Southeast Portfolio - 7 assets totaling 1,624 units, located in the desirable submarkets of Atlanta, GA, Savannah, GA, Greenville, SC, Raleigh, NC, and Richmond, VA. The portfolio represents a significant value creation opportunity to invest in strong quality assets where significant Capex has already been invested. Situated in bustling micro locations across high-growth Southeastern states, these assets are poised for substantial growth with unparalleled access to a plethora of jobs and seamless connectivity to major thoroughfares. Built in 1964-1986, the Sterling 7 Southeast Portfolio presents an excellent value-add framework to build upon.
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Sterling 7 Southeast Portfolio (7 properties, 1,624 units)
Sterling Oaks
184 Units
3200 Oakwood Village Lane
Atlanta, GA  30341
Type:  Multifamily
Closed: 9/24/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 2002-built, 60-unit Century Oaks on College apartment community located in Greensboro, NC. The asset is situated in burgeoning West Greensboro less than 7 miles from the expanding Piedmont Triad International Airport and in close proximity to a variety of retail options. The plethora of employers located in this submarket have driven submarket fundamentals such as population, household income, and rent growth significantly upward in recent years. The surrounding areas truly mirror the Greensboro economy’s recent shift toward expanding its white-collar workforce through educational attainment and growing financial and tech market sectors. New ownership has the opportunity to boost NOI by nearly 43% by implementing a proven interior renovation program.
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Century Oaks at College
60 Units
337 Guilford College Road
Greensboro, NC  27409
Type:  Multifamily
Closed: 9/22/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 252-unit Oak Ridge at Pelham apartment community located in the burgeoning Greenville, SC area. This asset is situated in the highly coveted Thornblade neighborhood characterized by an affluent and educated demographic pool as HHI’s are $115k+, 52% of people have a bachelor’s degree or higher, and 75% are white collar employees. Built in 1986, Oak Ridge at Pelham presents an outstanding opportunity to invest in an extremely well maintained asset within the thriving Greenville market distinguished by attractive multifamily fundamentals, a diminishing multifamily development pipeline and an opportunity to achieve $150 average rent premiums through a Class-A value-add 2.0 campaign.
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Oak Ridge at Pelham
252 Units
150 Oak Ridge Place
Greenville, SC  29615
Type:  Multifamily
Closed: 9/20/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is excited to present the exclusive listing of Mosby University City, a 309-unit newly built apartment community located in Charlotte, NC. The property is ideally situated in the University City submarket of Charlotte. This booming submarket is highlighted as one of Charlotte’s largest employment centers (~75k total employees), features 23 Fortune 500 companies, 430 Retail locations, 11M SF of office space, the University of North Carolina at Charlotte, and direct access to the Lynx Light Rail through multiple stations. The property offers large floorplans coupled with premier, luxury features, with ideal lifestyle amenities conveniently located nearby. Mosby University City presents an outstanding opportunity to invest in a newly built Class A institutional-quality asset located in a thriving submarket that offers organic rent growth through rental headroom from nearby competitors.
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Mosby University City
309 Units
404 Gallop Lane
Charlotte, NC  28213
Type:  Multifamily
Closed: 9/17/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is excited to present the exclusive listing of Capital Club at Indian Land, a 312-unit, 2020-built Class A community located in one of Charlotte’s most up-and-coming submarkets, Indian Land. This affluent South Carolina submarket is defined by its high-income, white-collar workforce resident base, highly-rated school system, and expansive population growth over the past decade. Among the limited Class A supply in Indian Land, Capital Club at Indian Land stands apart with its differentiated Build to Rent Townhome component and best-in-class, premier amenity package available to its impressive resident demographics. The property’s proximate location to major local employers, retail and entertainment options, and ideal access to the established job nodes of affluent Ballantyne and SouthPark offer residents of Capital Club an ideal mix of lifestyle amenities and deep employment options. Capital Club at Indian Land represents a fantastic opportunity to invest in a newly built, Class A community with impressive leasing velocity, favorable market rent projections, and recent leasing activity already proving out higher rents during lease-up.
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Capital Club at Indian Land
312 Units
2278 Capital Club Way
Indian Land, SC  29707
Type:  Multifamily
Closed: 9/14/2021
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)
Prosper Fairways
419 Units
1800 Longcreek Drive
Columbia, SC  29210
Type:  Multifamily
Closed: 9/3/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of West End at Fayetteville, a 360-unit apartment community located in Fayetteville, North Carolina. The asset is surrounded by the region’s prominent thoroughfares, which provide residents convenient access to the plethora of retail in the immediate area as well as the largest employers in the city, including Fort Bragg. West End at Fayetteville offers investors an opportunity to invest in a strong performing asset with a proven value-add framework asking $75 rent premiums over renovated units. With a limited delivery pipeline and vacancy hovering around record lows at 2.5%, the asset is primed to capitalize on the recession proof Fayetteville market that posted 12.4% rent growth YoY at the end of Q1 2021.
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West End at Fayetteville
360 Units
3050 Plantation Garden Way
Fayetteville, NC  28303
Closed: 9/1/2021
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 excited to present the exclusive listing of Avalon at James Island, a 273-unit newly constructed apartment community located in Charleston, SC. Boasting top-of-market amenities and features, Avalon at James Island is the premier multifamily asset of James Island, a submarket defined by blue chip demographics and a plethora of proximate lifestyle amenities including Downtown Charleston and Folly Beach just minutes away. Further highlighting the assets preeminent location, the adjacent Harris Teeter anchored James Island Shopping Center provides unmatched convenience to myriad retail options within walking distance. Increasing barriers to entry within the submarket will provide ideal multifamily fundamentals over the next 5 years as the population is projected to outpace new deliveries by 5 to 1 within a 3-mile radius of the asset. This lack of new deliveries, coupled with an increasingly affluent millennial renter base whose household incomes will average $110K by 2025, will create an extremely favorable rent growth environment over the hold period. With stabilization imminent, the property offers an outstanding opportunity to invest in a newly built, institutional-quality asset that can close the substantial delta to downtown rent levels through 2nd generation leasing and capture nearly $1000 ($1.00 PSF) in headroom.
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Avalon at James Island
273 Units
202 Promenade Vista Street
Charleston, SC  29412
Type:  Multifamily
Closed: 8/10/2021
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