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.
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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.
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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.
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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.
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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.
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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.
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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.
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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%.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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%.
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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%.
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West Greensboro Portfolio (2 properties, 380 units)
The Willow
136 Units
101 Meadowood Street
Greensboro, NC  27409
Type:  Multifamily
Closed: 4/1/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Ardmore King’s Grant (357 units), located in Charlotte, North Carolina and Ardmore Cates Creek (270 units), located in Hillsborough, North Carolina. These two Core Plus assets provide investors rare-to-find scale (627 units) and diversification across two of the fastest growing markets in the country. The Charlotte and Raleigh-Durham markets currently rank 5th and 6th nationally for rent growth and are on pace to continue capturing double digit rent growth in 2022. Both properties are located in sought-after, suburban locations characterized by blue chip demographics, surrounded by premier retail, and enjoy unmatched connectivity to each market’s major job nodes via Interstate 85. Built in 2015/2016, the assets offer investors optimal bones with 9’ ceilings and premier locations coupled with the opportunity to push rents $300+ by expanding upon the proven value-add program in place, resulting in a $2,300,000 increase to total NOI or an average increase of 45%.
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Ardmore Portfolio (2 properties, 627 units)
Ardmore Cates Creek
270 Units
100 Waterstone Park Cir
Hillsborough, NC  27278
Type:  Multifamily
Closed: 3/23/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Ardmore King’s Grant (357 units), located in Charlotte, North Carolina and Ardmore Cates Creek (270 units), located in Hillsborough, North Carolina. These two Core Plus assets provide investors rare-to-find scale (627 units) and diversification across two of the fastest growing markets in the country. The Charlotte and Raleigh-Durham markets currently rank 5th and 6th nationally for rent growth and are on pace to continue capturing double digit rent growth in 2022. Both properties are located in sought-after, suburban locations characterized by blue chip demographics, surrounded by premier retail, and enjoy unmatched connectivity to each market’s major job nodes via Interstate 85. Built in 2015/2016, the assets offer investors optimal bones with 9’ ceilings and premier locations coupled with the opportunity to push rents $300+ by expanding upon the proven value-add program in place, resulting in a $2,300,000 increase to total NOI or an average increase of 45%.
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Ardmore Portfolio (2 properties, 627 units)
Ardmore King's Grant
357 Units
9015 Kings Grant Drive
Charlotte, NC  28262
Type:  Multifamily
Closed: 3/23/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 292-unit The Park apartment community located in Columbia, SC. This asset is situated in the highly sought-after Dutch Fork submarket, characterized by its young and affluent demographic base with 62% white-collar employment, high renter occupied population (61%), exceptional projected rent growth of 20% through 2026, and a dwindling multifamily development pipeline. Built in 1975, The Park represents an outstanding opportunity for new ownership to implement a value-add 2.0 campaign to align the property with features that rival submarket competitors to achieve premiums up to $214.
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The Park
292 Units
1601 Longcreek Drive
Columbia, SC  29210
Type:  Multifamily
Closed: 2/24/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 200-unit North Oaks Landing 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 22% 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 supported value-add initiative targeting unit interior upgrades, with potential to increase NOI by 32%. North Oaks Landing 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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North Oaks Landing
200 Units
2038 Quail Forest Drive
Raleigh, NC  27609
Type:  Multifamily
Closed: 2/18/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the I-85 Corridor Value-Add Portfolio consisting of 4 properties, 570 units strategically situated in North Carolina’s fastest growing markets - Charlotte, Piedmont Triad, and the Raleigh-Durham Research Triangle. The properties are poised for substantial growth with unparalleled access to a plethora of jobs, higher education, strong household income growth, and seamless connectivity through major thoroughfares. The portfolio presents with an opportunity to capitalize on a proven value-add campaign already achieving $100-$175 rent premiums over standard units. Renovating the remaining 50% of units brings huge upside with solid premiums supported by excellent rent growth projections across all three markets. Ranging from late 1980s to mid-2000s vintage, the I-85 Corridor Value-Add portfolio presents an excellent framework to build upon in one of the fastest growing regions in the country.
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I-85 Corridor Value-Add Portfolio (4 properties, 570 units)
Crescent Oaks
80 Units
130 West Crescent Square Drive
Graham, NC  27253
Closed: 2/14/2022