The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 8.83 acre Southpark Boulevard Land site located in Winston-Salem, NC. As part of a Master Planned Community called Heritage Park, the land is approved for 172 apartments, is mass graded, has utilities located on site, and is currently listed at $950,000. The property is located in South Winston-Salem, the submarket leader in annual rent growth and occupancy in 2019. The property is situated along the Peters Creek Parkway Growth Corridor, a targeted initiative recently approved by the City Council, that has already seen momentum build indicated by rising property values. This site offers investors a unique opportunity to invest in a growing Winston-Salem market which boasts low unemployment, trivial delivery pipeline, and a majority white-collar workforce.
...
Sold
Southpark Boulevard Land
8.83 Acres
0 Grand Silo Way
Winston-Salem, NC  27127
Type:  Land
Closed: 3/1/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 96-unit Spring Garden apartment community located in Greensboro, NC. This asset is strategically situated 2 miles southwest of downtown Greensboro next to the University of North Carolina at Greensboro. Built in 1991 and 1998, Spring Garden is a student run property primed for significant upside through a modern conversion of the asset’s 4BR-2BA units to highly sought-after 2BR-2BA units. This unit transformation will offer one of the largest 2BR floorplans in the submarket, coupled with high barriers to entry, limited development, and desirable demographics. Furthermore, transitioning to conventional operations will allow for improved efficiencies in leasing, occupancy, and utility reimbursements generating attractive returns for incoming investors.
...
Sold
Spring Garden (192 Beds)
96 Units | 192 Beds
2119 Spring Garden Street
Greensboro, NC  27403
Closed: 11/23/2021
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 304-unit, 2013-built Springs at Greenville apartments in Greenville, SC. The property is located just off of Interstate-385 in the heart of the "Industry Triangle," home to 8 of the city’s 10 largest employers and 50,000 jobs. The property’s ideal location also give residents the pleasure of being able to walk to premiere retail destinations along Woodruff Road. Springs at Greenville is a core-plus asset built with a unique architectural style, and has support to boost NOI 14% through a comprehensive interior value-add initiative.
...
Sold
Springs at Greenville
304 Units
1000 Oak Springs Drive
Greenville, SC  29615
Type:  Multifamily
Closed: 11/29/2017
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 464-unit Columbia Portfolio, consisting of 240-unit Peachtree Place and 224-unit St. Andrews apartment communities in Columbia, SC. Built in 1971 and 1974, Peachtree Place and St. Andrews are located in a highly accessible location providing convenient access to downtown Columbia and the area’s largest employers. The assets are also barbelled by Downtown Columbia and the Harbison Boulevard area, resulting in seamless accessibility to Columbia’s premier retail nodes. In addition, the properties are uniquely positioned to realize tremendous benefits of an expanded, and submarket-proven, value-add initiative with potential to boost combined NOI by 43%.
...
Sold
St. Andrews
224 Units
601 St. Andrews Road
Columbia, SC  29210
Type:  Multifamily
Closed: 9/28/2018
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of St. Andrews Reserve - a 390-unit apartment community in Wilmington, NC constructed in two phases (1999 / 2003). Bolstered by recent capital improvements and robust operational momentum, St. Andrews Reserve offers investors a potential +18% boost to annual NOI through completion of an in-process, proven value-add program. The asset is firmly cemented in the metro’s highest rent growth submarket that is primed to benefit from development expansion moving southward. In addition, St. Andrews Reserve is in close proximity to the premier retail nodes and principal economic drivers of Wilmington - a MSA characterized by rapid population growth, an expanding employment nucleus, and attractive demographics.
...
Sold
St. Andrews Reserve
390 Units
814 St. Andrews Drive
Wilmington, NC  28412
Type:  Multifamily
Closed: 10/31/2018
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Banks at Bridgewater, a newly constructed 252-unit Garden multifamily property, and Stepping Stone at Bridgewater, a 44-unit Built-to-Rent duplex community in Myrtle Beach, SC. Strategically located in one of the nation’s fastest growing cities, with 22% population growth since 2015, the assets are situated in the primary residential and recreation node, with access to top retail, entertainment, healthcare, and job centres. Myrtle Beach’s rapidly expanding population highlights its diverse demographics supporting strong multifamily and Build-to-Rent fundamentals, resulting in unprecedented rent and supply growth in both asset classes. Historically high home ownership barriers to entry is pricing potential buyers out of the market, further increasing demand for apartments and Build-to-Rent communities. Completed in 2020, Stepping Stone at Bridgewater offers spacious units, private driveways, attached garages, and features desirable modern finishes and neighborhood lifestyle. Adjacent, with expected final delivery by September, is The Banks at Bridgewater, presenting open floor plans with luxurious finishes and modern amenity package.
...
Sold
The Banks & Stepping Stone at Bridgewater (2 properties, 296 units)
Stepping Stone at Bridgewater
44 Units
943 Lilyturf Circle
Little River, SC  29566
Closed: 12/2/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Sterling Magnolia, an irreplaceable core-plus value-add opportunity located in the exclusive submarket of Myers Park. The immediate area is defined by blue-chip demographics ($146,000 Average Household Income), luxurious homes ($536,000 Median Home Value) and proximity to Charlotte’s premier employment hubs, Uptown and Southpark, offering 150K jobs within a 10-minute drive of the property. The 174-unit, 2004-built asset features both garden and urban attributes, condo sized floorplans (1,121 average SF) and is situated in a submarket composed of Charlotte’s most affluent residents, offering investors a unique framework to complete a high-end value-add and close the $0.33 PSF rent delta to submarket competitors.
...
Sold
Sterling Magnolia
174 Units
3720 Wendwood Lane
Charlotte, NC  28211
Type:  Multifamily
Closed: 12/29/2020
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 188-unit, 1976-built Stone Ridge Apartments in Columbia, SC. The property is conveniently located off of I-26 between the Downtown Columbia and Harbison Boulevard Corridors. The asset offers an outstanding opportunity to invest in a solid performing asset with an attractive unit mix and proven potential to boost NOI through completion of a value-add program.
...
Sold
Stone Ridge
188 Units
1000 Watermark Place
Columbia, SC  29210
Type:  Multifamily
Closed: 9/27/2017
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 188-unit Stone Ridge apartment community located in Columbia, SC. This asset is situated in the capital city of South Carolina boasting strong submarket fundamentals including 9% projected rent growth and 13% average household income growth through 2025. Built in 1974, Stone Ridge offers an outstanding opportunity to invest in a property that comes to market with a proven value-add plan set in-place by current ownership leaving 179-Units (95%) to be renovated and command premiums of $140.
...
Sold
Stone Ridge
188 Units
1000 Watermark Place
Columbia, SC  29210
Type:  Multifamily
Closed: 4/28/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 318-unit, 2001-built Stone Ridge & 252-unit, 1996-built Whitehall Estates apartment communities located in Charlotte, NC. Bound by an abundance of employment, including an average of +71,500 jobs within a 3-mile radius and +42.8M SF of industrial, office, and retail space, the properties provide an unmatched, connected suburban location. The duo is primed to continue benefitting from prolific economic development and population influx driving a +9.25% submarket rent growth projection through 2022, while portfolio operating synergies bolster consistently strong financial performance. With significant rent headroom of +$400 per unit to submarket leaders, new ownership is ideally positioned to continue the dynamic in-process value-add program or execute an enhanced strategy to meet Class-A competitors.
...
Sold
Stone Ridge & Whitehall Estates (2 properties, 570 units)
Stone Ridge
318 Units
8940 Camden Creek Lane
Charlotte, NC  28273
Type:  Multifamily
Closed: 3/13/2020
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.
...
Sold
Summerlin Ridge
120 Units
2425 Summerlin Ridge Road
Winston-Salem, NC  27103
Type:  Multifamily
Closed: 6/30/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 120-unit Summerlin Ridge apartment community located in Winston-Salem, NC. This asset is situated in the rapidly expanding South Winston-Salem submarket, which is ranked #1 among all Triad submarkets in occupancy and quarterly rent growth as of Q1 2023. Built in 2004, Summerlin Ridge offers an outstanding opportunity to invest in a high quality asset with significant growth potential. With much of the heavy lifting done on unit renovations, incoming ownership can focus on loss-to-lease burn-off, increasing rents in line with market comparables, and capturing low-hanging-fruit other income opportunities to increase NOI by over 20%.
...
Sold
Summerlin Ridge
120 Units
2425 Summerlin Ridge Road
Winston-Salem, NC  27103
Type:  Multifamily
Closed: 8/31/2023
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.
...
Sold
I-85 Corridor Value-Add Portfolio (4 properties, 570 units)
Summerlyn Place
140 Units
750 Boone Station Drive
Burlington, NC  27215
Type:  Multifamily
Closed: 2/14/2022
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 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 1995-built, 156-unit Terrace at Olde Battleground , the 1986-built, 120-unit Terrace Oaks apartment community, and 180-unit Madison Woods apartment community located in Greensboro, NC. New ownership has the opportunity to inherit a well-maintained value-add duo, Terrace Oaks & Terrace at Olde Battleground, that could capture a combined 34% increase to portfolio NOI through a targeted interior renovation program, and taking advantage of portfolio operating efficiencies to bring variable expenses more in line with the market. Built in 1968/1973, Madison Woods offers newly implemented revenue streams along with a trial value-add program that is commanding average premiums of $157/mo. over units leasing with standard features.
...
Sold
Greensboro Value-Add 3 Portfolio (3 properties, 456 units)
Terrace at Olde Battleground
156 Units
3800 Cotswold Avenue
Greensboro, NC  27410
Type:  Multifamily
Closed: 11/2/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 1995-built, 156-unit Terrace at Olde Battleground , the 1986-built, 120-unit Terrace Oaks apartment community, and 180-unit Madison Woods apartment community located in Greensboro, NC. New ownership has the opportunity to inherit a well-maintained value-add duo, Terrace Oaks & Terrace at Olde Battleground, that could capture a combined 34% increase to portfolio NOI through a targeted interior renovation program, and taking advantage of portfolio operating efficiencies to bring variable expenses more in line with the market. Built in 1968/1973, Madison Woods offers newly implemented revenue streams along with a trial value-add program that is commanding average premiums of $157/mo. over units leasing with standard features.
...
Sold
Greensboro Value-Add 3 Portfolio (3 properties, 456 units)
Terrace Oaks
120 Units
3803 Cotswold Avenue
Greensboro, NC  27410
Type:  Multifamily
Closed: 11/2/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the completely repositioned 97-unit Terrain at Haywood apartment community located in the bustling Greenville metro area. Terrain at Haywood is situated in a desirable pocket of Greenville characterized by its young, affluent and educated demographic base as avg. HHI’s are north of $83k with a 66% white collar population and 46% have obtained a bachelor’s degree or higher. Along with being located in the highly coveted Greenville County School District, the property is also surrounded by an abundance of high-end retail (Haywood Mall & Magnolia Point) and jobs, including 4 of Greenville County’s largest employers within a 5-mile radius. Built in 1983 and repositioned in 2018, Terrain at Haywood has undergone major renovations to both the interior and exterior ($2M+) as all units have been renovated with top-of market finishes and all common areas and amenity spaces have been thoughtfully curated and detailed with modern touches.
...
Sold
Terrain at Haywood
97 Units
48 McPrice Court
Greenville, SC  29615
Type:  Multifamily
Closed: 12/29/2021
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of The Apartments at Shade Tree, a 248-unit apartment community located in Johns Island, South Carolina. The property is located in a fast-growing submarket with high visibility off major artery Maybank Highway, which is currently being transformed into four lanes, paving the way for future rental growth as the area continues to expand. With a high rent growth ceiling between the property and its competitors, as well as the immediate opportunity to implement water/sewer and valet trash charges at the property, the property offers tremendous rent and NOI growth upside. The property is being offered at a significant discount to recent nearby trades and replacement cost. With high barriers to new development throughout Charleston, the property is well-positioned to enjoy long-term rent growth and offers an outstanding return on investment.
...
Sold
The Apartments at Shade Tree
248 Units
2030 Wildts Battery Boulevard
Johns Island, SC  29455
Type:  Multifamily
Closed: 1/10/2019
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the East Charlotte 728 Portfolio consisting of Delta Crossing, The Avalon, and The Kelston apartment communities. The assets are situated adjacent to the 78-acre mixed-use Eastland Mall redevelopment, which is anchored by the Headquarters of Charlotte’s new Major League Soccer team. Convenient location to a desirable thoroughfare provides access to 250,000 jobs within a 15-minute drive, as well as the most popular entertainment hubs throughout the city. Strong demographic trends show a 14% increase to average household incomes over the next 5 years that will support continued rent growth. The East Charlotte 728 Portfolio represents an outstanding opportunity to realize rental premiums of up to $200 which nearby competitive properties are currently achieving in this rapidly transforming submarket.
...
Sold
The Avalon
240 Units
6000 Regal Estates Drive
Charlotte, NC  28212
Type:  Multifamily
Closed: 12/23/2020
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of The Aventine Greenville - a 346-unit apartment community in burgeoning Greenville, SC. Built in 2013, The Aventine Greenville boasts luxurious amenities/features and high-quality construction that is available for acquisition at an attractive basis. Bolstered by favorable operations, the property is ideally positioned to close the $200+ rent gap to market competitors through completion of a light value-add program. Residents of The Aventine Greenville enjoy walkability to the premier retail outlets in South Greenville - a region defined an exceptional demographic base and a diminishing new development pipeline. In addition, the asset is positioned in the center of Greenville’s thriving "Industry Triangle" as five of the county’s largest employers (10,500+ jobs) are less than two miles from the property.
...
Sold
The Aventine Greenville
346 Units
97 Market Point Drive
Greenville, SC  29607
Type:  Multifamily
Closed: 12/20/2018
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Avenue, a 503-unit apartment community located in West Greensboro, North Carolina. With over 21% effective rent growth in 2021, the West Greensboro submarket is ranked #1 for annual effective rent growth, making it an extremely attractive area to invest. The immediate 2.5 mile radius around the asset has dozens of high end stores, restaurants, and entertainment options. Within 1 mile of The Avenue is I-840, which allows for easy connectivity to the plethora of employment drivers that the Triad has to offer. Cone Health, Toyota, Publix, Boom Supersonic, and Amazon have plans to expand in area, contributing to the major economic expansion that the Triad is currently experiencing. Built in 1972, The Avenue represents an outstanding opportunity to complete a proven, in place-value add program and boost NOI by 33%.
...
Sold
The Avenue
503 Units
5939 W Friendly Ave
Greensboro, NC  27410
Type:  Multifamily
Closed: 9/29/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Banks at Bridgewater, a newly constructed 252-unit Garden multifamily property, and Stepping Stone at Bridgewater, a 44-unit Built-to-Rent duplex community in Myrtle Beach, SC. Strategically located in one of the nation’s fastest growing cities, with 22% population growth since 2015, the assets are situated in the primary residential and recreation node, with access to top retail, entertainment, healthcare, and job centres. Myrtle Beach’s rapidly expanding population highlights its diverse demographics supporting strong multifamily and Build-to-Rent fundamentals, resulting in unprecedented rent and supply growth in both asset classes. Historically high home ownership barriers to entry is pricing potential buyers out of the market, further increasing demand for apartments and Build-to-Rent communities. Completed in 2020, Stepping Stone at Bridgewater offers spacious units, private driveways, attached garages, and features desirable modern finishes and neighborhood lifestyle. Adjacent, with expected final delivery by September, is The Banks at Bridgewater, presenting open floor plans with luxurious finishes and modern amenity package.
...
Sold
The Banks & Stepping Stone at Bridgewater (2 properties, 296 units)
The Banks at Bridgewater
252 Units
719 Lantern Walk Drive
Little River, SC  29566
Type:  Multifamily
Closed: 12/2/2022
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.
...
Sold
The Bristol
258 Units
926 Cleveland Street
Greenville, SC  29601
Closed: 8/31/2021