The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 912-unit Upstate Value-Add Portfolio, which can be acquired together or individually. The five assets are situated in two of South Carolina’s most admired cities, Greenville and Spartanburg. The highly sought-after North Greenville and Spartanburg submarkets are characterized by top-tier retail, award winning school districts, and seamless connectivity via I-85 to major economic drivers. The immediate areas surrounding the properties boast high average HHIs, dominant white-collar populations, and impressive rent growth, representing the ideal time to own in these thriving pockets of Upstate, SC. The properties offer an outstanding opportunity to gain immediate scale, infrastructure, and create efficiencies in high growth Southeastern markets through well capitalized assets ($6.9M+). Built from 1974-1986, the properties arrive to market primed for a Class-A value-add campaign where new ownership can benefit from the tremendous upside of the portfolio advantage, push rents $230+, and yield additional revenue for years to come.
...
Sold
Upstate Value-Add 5 Portfolio (5 properties, 912 units)
The Park at Calabria
101 Units
100 Pelham Road
Greenville, SC  29615
Type:  Multifamily
Closed: 9/15/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Preserve at Pine Valley, 219-unit apartment community located in Wilmington, NC, the 3rd fastest growing city in the state. Built in 1974, Preserve at Pine Valley is a strong performing asset with excellent value-add potential and strong operational momentum. Ranked top 20 for inbound population growth in 2020, the South Wilmington submarket posted 17.5% YoY rent growth through 2021 bolstered by the presence of nearby retail, jobs, and education opportunities including UNC Wilmington just north of the property. Incoming investors can capitalize on strong market fundamentals by completing the in-place value-add program and pushing rents $300+.
...
Sold
The Preserve at Pine Valley
219 Units
3314 Wickslow Road
Wilmington, NC  28412
Type:  Multifamily
Closed: 8/25/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Holston, a 238-unit apartment community located in Weaverville, North Carolina, a rapidly expanding suburb of Asheville. This asset boasts incredible connectivity to the Asheville MSA via I-26 and US 25/US 70 while maintaining the benefits of suburban living and picturesque mountain views.Featuring market leading interior finishes and a thoughtfully curated amenity set, The Holston represents the premier suburban apartment community in North Carolina’s fastest growing leisure market. The Holston is poised to continue an already impressive leasing performance driven by the upcoming slow down of new deliveries and a well-established renter pool with discretionary income that can support significant future rent growth. Built in 2022, The Holston offers an exceptional opportunity to acquire Asheville’s premier suburban apartment community that has proven leasing momentum and unrealized, organic upside through 17.9% rent growth projected in 2022.
...
Sold
The Holston
238 Units
105 Holston View Drive
Weaverville, NC  28787
Type:  Multifamily
Closed: 8/18/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 380-unit South Carolina Value-Add Portfolio located in two of South Carolina’s most admired cities, Columbia and Spartanburg. Both assets are situated in South Carolina’s most robust and diverse markets with major employment centers and multifamily fundamentals that will support both assets for the long haul. Both the East Columbia and East Spartanburg submarkets are characterized by impressive rent growth, 15% and 20% respectively, dominant white-collar workforces, and majority renter occupied populations. Arbors at Windsor Lake and Cross Creek are both set to benefit from their strong micro locations with qualities such as impressive area demographics and seamless connectivity to economic drivers. Built in 1991/1981, the portfolio offers an outstanding opportunity to gain immediate scale and infrastructure in high growth southeastern markets with strong value-add opportunities to command average premiums of $255.
...
Sold
South Carolina Value-Add Portfolio (2 properties, 380 units)
Cross Creek
152 Units
345 Bryant Road
Spartanburg, SC  29303
Type:  Multifamily
Closed: 8/17/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Pointe at Irving Park, a 198-unit apartment community located in Greensboro, NC. This asset is in an extremely desirable and rapidly growing pocket of the Greensboro market, where affluent demographics, rising home values, and proximity to the area’s best employment centers contribute to this submarket’s appeal. Last year, area asking rents grew an astonishing 20.4% and are not expected to slow in the near term. Household income in a half-mile radius averaged $118K and home values averaged $313K, illustrating the strong economy and solid renter base that characterizes this area. The surrounding thoroughfares Pisgah Church Rd, North Elm Rd, and Cone Blvd allow residents of The Point at Irving Park to easily access the plethora of nearby retail options. Furthermore, the I-840 Urban loop is located just 1 mile away from the property and provides connectivity to the Triad region’s largest employers. Toyota, Publix, Cone Health, Amazon, and Guerrilla RF INC have made plans to expand to the area, fueling the recent economic expansion the Triad is currently experiencing. Built in 1987, The Pointe at Irving Park offers an outstanding opportunity to acquire an institutionally owned asset and inherit a proven, multifaceted value-add program to achieve a 38% ROI.
...
Sold
The Pointe at Irving Park
198 Units
3100 North Elm Street
Greensboro, NC  27408
Type:  Multifamily
Closed: 8/12/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 176-unit Main Street Columbia Portfolio, which can be acquired together or individually. Located in the heart of downtown Columbia, SC, all four assets offer direct access and visibility to the city’s most lively streets, major employers and entertainment options. The portfolio offers a rare combination of assets that contain features not commonly found including over 50,000 square feet of retail, historic status’, an array of unique floorplans and considerable tax benefits. Intriguing market fundamentals including a strong white-collar workforce and renter occupied population (~67% and ~71% respectively) position the assets to continue prospering for the long term. Built between 1903 and 1940, the Main Street Columbia Portfolio presents an exceptional opportunity to acquire four meticulously maintained assets with limitless upside as rents can be pushed significantly through the continuation of the value-add programs and organically with the 15% rent growth projected through 2026.
...
Sold
Main Street Columbia Portfolio (4 properties, 176 units)
Berry's On Main
27 Units
1217 Taylor Street
Columbia, SC  29201
Type:  Multifamily
Closed: 8/5/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 176-unit Main Street Columbia Portfolio, which can be acquired together or individually. Located in the heart of downtown Columbia, SC, all four assets offer direct access and visibility to the city’s most lively streets, major employers and entertainment options. The portfolio offers a rare combination of assets that contain features not commonly found including over 50,000 square feet of retail, historic status’, an array of unique floorplans and considerable tax benefits. Intriguing market fundamentals including a strong white-collar workforce and renter occupied population (~67% and ~71% respectively) position the assets to continue prospering for the long term. Built between 1903 and 1940, the Main Street Columbia Portfolio presents an exceptional opportunity to acquire four meticulously maintained assets with limitless upside as rents can be pushed significantly through the continuation of the value-add programs and organically with the 15% rent growth projected through 2026.
...
Sold
Main Street Columbia Portfolio (4 properties, 176 units)
Barringer Building
75 Units
1338 Main Street
Columbia, SC
Type:  Multifamily
Closed: 8/4/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 176-unit Main Street Columbia Portfolio, which can be acquired together or individually. Located in the heart of downtown Columbia, SC, all four assets offer direct access and visibility to the city’s most lively streets, major employers and entertainment options. The portfolio offers a rare combination of assets that contain features not commonly found including over 50,000 square feet of retail, historic status’, an array of unique floorplans and considerable tax benefits. Intriguing market fundamentals including a strong white-collar workforce and renter occupied population (~67% and ~71% respectively) position the assets to continue prospering for the long term. Built between 1903 and 1940, the Main Street Columbia Portfolio presents an exceptional opportunity to acquire four meticulously maintained assets with limitless upside as rents can be pushed significantly through the continuation of the value-add programs and organically with the 15% rent growth projected through 2026.
...
Sold
Main Street Columbia Portfolio (4 properties, 176 units)
Kress Building
32 Units
1502 Main Street
Columbia, SC  29201
Type:  Multifamily
Closed: 8/4/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 176-unit Main Street Columbia Portfolio, which can be acquired together or individually. Located in the heart of downtown Columbia, SC, all four assets offer direct access and visibility to the city’s most lively streets, major employers and entertainment options. The portfolio offers a rare combination of assets that contain features not commonly found including over 50,000 square feet of retail, historic status’, an array of unique floorplans and considerable tax benefits. Intriguing market fundamentals including a strong white-collar workforce and renter occupied population (~67% and ~71% respectively) position the assets to continue prospering for the long term. Built between 1903 and 1940, the Main Street Columbia Portfolio presents an exceptional opportunity to acquire four meticulously maintained assets with limitless upside as rents can be pushed significantly through the continuation of the value-add programs and organically with the 15% rent growth projected through 2026.
...
Sold
Main Street Columbia Portfolio (4 properties, 176 units)
Tapp's
42 Units
1644 Main Street
Columbia, SC  29201
Closed: 8/4/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 76-unit Northlake Townhomes apartment community located in Charleston, SC. This asset is situated in the highly sought-after North Charleston submarket which is widely known for its favorable multifamily characteristics. Northlake Townhomes’ proximate location provides residents direct access to 4 of the area’s largest economic drivers within 5 miles including the Charleston International Airport, Boeing, Joint Base Charleston, and Bosch Automotive, boasting 107k+ jobs within a 20-minute drive. The immediate area surrounding the property boasts high average household incomes ($74k), a majority white collar population (60%), and an educated talent pool as 30% have obtained a bachelor’s degree or higher. Built in 1984, Northlake Townhomes arrives to market 95% occupied with the biggest floorplans of any competitor (1,266 avg. SF), along with extreme upside potential for a value-add 2.0 campaign to capture premiums north of $270 and bridge the rental gap between top market competitors.
...
Sold
Northlake Townhomes
76 Units
4135 Bonaparte Drive
North Charleston, SC  29418
Closed: 7/26/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 5.27-acre Flats at General Time Development opportunity located in Athens, Clarke County, Georgia. The land is situated in the rapidly-expanding, northeast corridor. The Flats at General Time land offers an outstanding opportunity to invest in a large-scale master development plan, surrounded by employment opportunities and entertainment with retail, office, and hotel on the horizon. Wayfair recently announced more than 500 customer support jobs with its plan to occupy 45K SF of the General Time re-development which itself will feature over 250K SF.
...
Sold
Flats at General Time 5.27 Acres
5.27 Acres
180 Newton Bridge Road
Athens, GA  30607
Type:  Land
Closed: 7/22/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 148-unit Granby Oaks apartment community located in bustling Columbia, SC. This asset is ideally situated near the 47-mile-long Congaree River and just a mile from downtown Columbia, providing residents easy access to the area’s foremost employment centers as well as many recreational activities. Granby Oaks’ exceptional location boasts impressive projected rent growth (21%), a majority white-collar workforce (58%), and a strong renter occupied population (67%). Located in a sought-after pocket of Lexington County, the property is surrounded by an abundance of entertainment options including the Parkland Plaza, an outdoor amphitheater, riverside activities, and the Cayce Riverwalk. Meticulously maintained during the course of ownership’s 30-year hold, Granby Oaks arrives to market a clean slate for investors to complete Class-A renovations on all units and push rents $275, aligning the asset with top submarket competitors.
...
Sold
Granby Oaks
148 Units
800 State Street
West Columbia, SC  29169
Type:  Multifamily
Closed: 7/13/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of 44 -unit, Willow Bend apartment community located in Durham, NC. This asset is situated in the rapidly-expanding area of Southwest Durham, an integral part of the Research Triangle which is home to over 300 companies employing more than 50,000 workers. Willow Bend is just one mile away from Downtown Durham, one and a half miles away from Duke University, and two miles away from the new Google Office. There are also three shopping centers within a 3-mile radius of the property. Built in 1993, Willow Bend offers an outstanding opportunity to invest in the thriving area, while also providing the prospect to complete an in-place value-add program that can generate an additional $53k in revenue and improve NOI by 16%.
...
Sold
Willow Bend
44 Units
1718 Palmer Street
Durham, NC  27707
Type:  Multifamily
Closed: 7/8/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 380-unit South Carolina Value-Add Portfolio located in two of South Carolina’s most admired cities, Columbia and Spartanburg. Both assets are situated in South Carolina’s most robust and diverse markets with major employment centers and multifamily fundamentals that will support both assets for the long haul. Both the East Columbia and East Spartanburg submarkets are characterized by impressive rent growth, 15% and 20% respectively, dominant white-collar workforces, and majority renter occupied populations. Arbors at Windsor Lake and Cross Creek are both set to benefit from their strong micro locations with qualities such as impressive area demographics and seamless connectivity to economic drivers. Built in 1991/1981, the portfolio offers an outstanding opportunity to gain immediate scale and infrastructure in high growth southeastern markets with strong value-add opportunities to command average premiums of $255.
...
Sold
South Carolina Value-Add Portfolio (2 properties, 380 units)
Arbors at Windsor Lake
228 Units
8720 Windsor Lake Boulevard
Columbia, SC  29223
Type:  Multifamily
Closed: 6/30/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 305-unit Lively at Carolina Forest apartment community located in Myrtle Beach, S.C. As the fastest growing city in the United States, Myrtle Beach is leading the surge of southern coastal migration posting 51% population growth since 2000, outpacing all other coastal markets. Unmatched multifamily market fundamentals including impressive rent growth (41% since 2015) and population growth prime The Lively at Carolina Forest for years to come. The property is centrally located within the planned Carolina Forest community which is characterized by a highly educated, affluent, white-collar workforce and is surrounded by an array of lifestyle amenities including top tier schools and retail. Built in 2017, featuring awe-inspiring curb appeal and a top notch amenity package, The Lively at Carolina Forest presents an exceptional opportunity to invest in a high-quality sought after product with potential to drastically increase rents through a light value-add campaign to bridge the $535+ average rent gap that exists between top market competitors.
...
Sold
Lively at Carolina Forest
305 Units
107 Village Center Boulevard
Myrtle Beach, SC  29579
Type:  Multifamily
Closed: 6/30/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 50-unit Sycamore Apartment Homes apartment community located in Fayetteville, NC. This asset is situated in 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 area, including Fort Bragg. Sycamore Apartment Homes offers investors the opportunity to invest in a strong performing asset with a proven value-add that is asking $150 rent premiums proven over classic units. With a limited delivery pipeline and vacancy hovering around record lows of 3.3%, the asset is primed to capitalize on this strong submarket that has achieved 11.9% rent growth YoY.
...
Sold
Sycamore Apartment Homes
50 Units
813 Carol Street
Fayetteville, NC  28303
Closed: 6/29/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Flats at Arrowood, a 301-unit apartment community located in Southeast Charlotte, North Carolina. Located just south of South End, one of the strongest MSA submarkets in the nation, the asset benefits from an increasingly affluent tenant base characterized by soaring HHI (94k+) and growing renter population (55%). A dwindling supply pipeline and skyrocketing population bolster submarket fundamentals, providing confidence the area can achieve significant rent growth (30% by 2026). This unique investment provides investors the opportunity to capitalize on the property’s strong operational momentum, with potential to boost NOI by $830k+ through completion of a proven value-add initiative capable of achieving up to $325 premiums.
...
Sold
The Flats at Arrowood
301 Units
8508 Lodge S. Circle
Charlotte, NC  28217
Type:  Multifamily
Closed: 6/28/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 166-unit Westgrove Towers apartment community located in Raleigh, North Carolina. Westgrove Towers is a fractured condo property that is located in 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, Westgrove Towers offers several unique opportunities to reduce expenses, push rents, and potentially increase density at the site. Built in 1986, the property is showing strong operational momentum and is primed for a value-add initiative that could generate an impressive 50% boost to NOI.
...
Sold
Westgrove Tower
166 Units
4700 Westgrove Street
Raleigh, NC  27606
Closed: 6/8/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 137-unit Bramar Gardens apartment community located in Charlotte, NC. Built in 1968, the property is poised to benefit from the area’s limited pipeline and consistent demand. Increased population, rising income, and skyrocketing home values bolster the area’s strong fundamentals, providing confidence impressive growth trends will continue. Just off I-85, the property provides residents direct access to popular retail and entertainment as well as the city’s largest employment hubs, University City and Uptown. With nearby competitors providing substantial rent headroom, Bramar Gardens offers incoming ownership the opportunity to boost annual NOI by more than $416,000 through execution of a market-supported value-add platform.
...
Sold
Bramar Gardens
137 Units
3100 Southwest Blvd
Charlotte, NC  28216
Type:  Multifamily
Closed: 5/27/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 36-unit Anson Apartment community located in Winston-Salem, North Carolina. The asset is strategically positioned alongside the area’s major thoroughfares that connect the MSA’s multiple, major higher-ed institutions and economic drivers. Attractive demographic trends paired with 22% home value growth and 15% rent growth over the past year has brought attention to Winston-Salem as the Triad prepares for a major economic boom. National General Insurance, and the recently announced Toyota Battery Manufacturing plant are two projects that are intended to bring over 4,000 jobs to the area once completed. With industries expanding, Winston-Salem will continue to grow as the unemployment rate dwindles and population continues to increase. Anson Apartments offers an outstanding opportunity to invest in an asset that has been newly renovated, as previous ownership has completed an impressive $1.2 million multifaceted renovation project. Incoming ownership can restructure utilities to earn an additional 4% boost to NOI.
...
Sold
Anson Apartments
36 Units
604-612 Anson Street
Winston Salem, NC  27103
Type:  Multifamily
Closed: 5/19/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 22-acre, Reserve at Battery Creek Land site located in the rapidly-expanding Beaufort, SC. With the potential to build medium density residential in an unmatched location, future residents will consider this site as an opportunity to enjoy waterfront views of Battery Creek with dock access at a discount to home ownership. The Hilton Head-Bluffton-Beaufort market is seen as an attractive destination for residents fleeing larger U.S. cities with dense infrastructures, migrating towards coastal markets. These trends, which were only amplified by the pandemic, explain the market’s population surge of 58% since 2000, all while experiencing consistently strong rent growth. The property has a dock permit with a total of 192 feet of boat mooring length, making this the only multifamily site in Beaufort County that is approved for a boat dock on deep water. With site plans and permits approved, along with resubmission plans nearing the finish line, The Reserve at Battery Creek Land site offers developers a chance to takeover an opportunity with much of the heavy lifting out of the way.
...
Sold
Reserve at Battery Creek Land
22 Acres
45 Belleview Bluff
Beaufort, SC  29902
Type:  Land
Closed: 5/4/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the Mock Judson Mill, a Historic Rehabilitation project in Greensboro, NC. The building has been vacant since 1997 and was placed on the National Register of Historic Places in 2011. The proposed project will consist of 173 units with diverse floorplans, high end finishes, and a multitude of excellent community amenities. Mock Judson Mill is located in a top submarket projected to see 4.4% YoY rent growth through 2025. Furthermore, incoming ownership can capitalize on the North Carolina State Mill Rehabilitation Tax Credits which brings in state and municipal support to execute the project.
...
Sold
Mock Judson Mill
173 Units
2610 Oakland Avenue
Greensboro, NC  27403
Closed: 4/20/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the West Greensboro Portfolio, 370 units across two adjacent properties, The Cypress and The Willow, located in Greensboro, NC. The portfolio is strategically located in the rapidly-expanding West Greensboro submarket, where home values and household income growth are on the rise. Residents enjoy easy access to two of the state’s major interstates which connect them to top notch retail and dining as well as to the Triad’s major employers. Late 1980s vintage, the portfolio offers an outstanding opportunity to invest in a booming area and complete a proven value-add program with additional Other Income upside that can generate an additional $404k in revenue and improve portfolio NOI by 18%.
...
Sold
West Greensboro Portfolio (2 properties, 380 units)
The Cypress
244 Units
1 Aspen Drive
Greensboro, NC  27409
Type:  Multifamily
Closed: 4/1/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the West Greensboro Portfolio, 370 units across two adjacent properties, The Cypress and The Willow, located in Greensboro, NC. The portfolio is strategically located in the rapidly-expanding West Greensboro submarket, where home values and household income growth are on the rise. Residents enjoy easy access to two of the state’s major interstates which connect them to top notch retail and dining as well as to the Triad’s major employers. Late 1980s vintage, the portfolio offers an outstanding opportunity to invest in a booming area and complete a proven value-add program with additional Other Income upside that can generate an additional $404k in revenue and improve portfolio NOI by 18%.
...
Sold
West Greensboro Portfolio (2 properties, 380 units)
The Willow
136 Units
101 Meadowood Street
Greensboro, NC  27409
Type:  Multifamily
Closed: 4/1/2022