The Cushman & Wakefield Florida Multifamily Advisory Group is pleased to announce the opportunity to acquire the 275-unit value-add apartment community located in Daytona Beach, Florida - Ridgecrest Park. Built in 1967, Ridgecrest Park offers an outstanding value-add opportunity to capitalize on a well-maintained community with 45 year ownership in a class "B" location with ability to raise rents over $272 through interior and common area renovation enhancements.

...
Sold
Ridgecrest Park
275 Units
1400 South Nova Road
Daytona Beach, FL  32114
Type: Conventional
Closed: 1/9/2020

Cushman & Wakefield, as exclusive marketing advisor, is pleased to present the opportunity to acquire Parcel 3B at Las Olas Square, a 15,277-SF site at the epicenter of Downtown Fort Lauderdale. The property has 70 linear feet of frontage along Las Olas Boulevard – the main entertainment and business corridor of Downtown Fort Lauderdale – and is directly adjacent to two of the area’s most iconic developments, Las Olas Square and Icon Las Olas. The liberal RAC – CC zoning allows for a variety of uses including residential, hospitality, office and retail.

The site is one the last remaining undeveloped single parcels in Downtown Fort Lauderdale and offers incredible connectivity and walkability to all of the world-class amenities that the area has to offer. With multiple projects underway and planned for Fort Lauderdale, the city is in the midst of an urban revival as the CBD is poised to experience a significant increase in its residential population. Parcel 3B at Las Olas Square presents a compelling opportunity for developers to purchase a trophy development site in Fort Lauderdale’s urban core.
...
Sold
Parcel 3B at Las Olas Square
   
515 East Las Olas Boulevard, Suite 900
Fort Lauderdale, FL  33301
Closed: 1/3/2020

Downtown Coral Gables Location Along Miracle Mile
Fully Leased & Stabilized

Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire The Mile (the “Property”) – a boutique, Class-AA, 120 apartment home high-rise located adjacent to downtown Coral Gables and its famed Miracle Mile. Developed in 2016 and owned and managed by Greystar, the Property consists of a mix of one-, two-, and three-bedroom units, along with 3,000 square feet of fully occupied ground floor retail. The Property has exceptional walkability to jobs, dining and nightlife within downtown Coral Gables, resulting in a Walk Score of 92. Further, within a one-mile radius of the Property is 8.3 million square feet of office space. The Mile’s offering is a generational opportunity to acquire a new construction, Miami-Dade luxury high rise apartment community steps from the center of its most affluent and economically robust city.

...
Sold
The Mile
120 Units
3622 Coral Way
Miami, FL  33145
Closed: 12/18/2019
Well-Maintained Asset with Updated Amenities

Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire Princeton Parc, a 200-unit, value-add garden community in West Melbourne, Florida. Completed in 2003, the property features a two-story, concrete block design with direct access units. The property features some of the largest floorplans in the submarket at 1,154 square feet on average. Princeton Parc’s location within West Melbourne is a magnet for employees working in the growing aerospace and tech space. The property is less than one mile from I-95 and provides a short commute to the area’s largest employers including Health First, Harris Corporation, Northrop Grumman, Lockheed Martin and Patrick Air Force Base.

...
Sold
Princeton Parc
200 Units
4714 Crosswind Court
Melbourne, FL  32904
Closed: 12/10/2019
Property is Located in a Designated Opportunity Zone With Tax Benefits

The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the listing of the 56-unit Spanish Villas apartment community located in South Daytona, Florida. Spanish Villas offer a Value-Add opportunity to renovate 100% of the units, raise effective rents $173/unit, and earn a 17% return-on-investment after implementation of the proposed renovation plan.

...
Sold
Spanish Villas
56 Units
1648 S. Palmetto Avenue
South Daytona, FL  32119
Type: Conventional
Closed: 12/10/2019
Cushman & Wakefield’s Florida Multifamily Team, as exclusive marketing representative, is pleased to present The Vue at Belleair, Clearwater’s newest and most exciting luxury rental community. The Vue offers an investor the opportunity to participate at the top tier of one of the strongest submarkets in the Tampa MSA. As of mid-2019, The Vue is completing its initial lease-up and rapidly approaching stabilization. This property enjoys extraordinary highway visibility/access and is positioned just minutes from major employers and neighborhood amenities.
...
Sold
Vue at Belleair
339 Units
1551 Flournoy Circle West
Clearwater, FL  33764
Type: Conventional
Closed: 12/3/2019
Properties May Be Purchased Together or Individuallly

The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 136-unit South Tampa Value-Add Multifamily Portfolio located in Tampa, Florida. The portfolio is comprised of the 48-unit Palms at Ballast Point, and the 88-unit Sun Bay Apartments, located about 1/2 mile from each other. The properties have the benefit of being in one of the highest rent growth submarkets in Tampa Bay (6.6% YoY) and have an opportunity to increase effective rents by $239 through implementing our proposed renovation plan on 100% of the units.

...
Sold
South Tampa Value-Add Portfolio (2 properties, 136 units)
Palms at Ballast Point
48 Units
3729 W. Tyson Avenue
Tampa, FL  33611
Type: Conventional
Closed: 11/15/2019
Properties May Be Purchased Together or Individuallly

The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 136-unit South Tampa Value-Add Multifamily Portfolio located in Tampa, Florida. The portfolio is comprised of the 48-unit Palms at Ballast Point, and the 88-unit Sun Bay Apartments, located about 1/2 mile from each other. The properties have the benefit of being in one of the highest rent growth submarkets in Tampa Bay (6.6% YoY) and have an opportunity to increase effective rents by $239 through implementing our proposed renovation plan on 100% of the units.

...
Sold
South Tampa Value-Add Portfolio (2 properties, 136 units)
Sun Bay
88 Units
3730 W Bay Avenue
Tampa, FL  33611
Type: Conventional
Closed: 11/15/2019

The Cushman & Wakefield Florida Multifamily Advisory Group is pleased to present the 267-unit Lexingotn Apartment Homes community located in Sarasota, Florida.

...
Sold
The Lexington
267 Units
3510 Cheshire Square
Sarasota, FL  34237
Closed: 11/14/2019

The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 120-unit Park Village apartment community located in Orange Park, Florida. The asset is situated in the desirable Orange Park submarket currently experiencing 10.2% YoY rent growth. Built in 1968, Park Village offers an outstanding value-add opportunity that would result in the ability to raise effective rents $281 and earn a 24% return on investment after implementation of the proposed value-add plan.

...
Sold
Park Village
120 Units
741 Park Avenue
Orange Park, FL  32073
Closed: 10/31/2019
Irreplaceable Location in one of Orlando’s Most Dynamic Submarkets

Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire Haven at Reunion, a brand-new apartment home community in Kissimmee, Florida. The 338-unit property consists of three-story garden style buildings with an average unit size of 989 square feet. Developed in 2019, the property consists of a mix of one-, two- and three-bedroom residences with expansive common area amenities and market leading finishes. The location of Haven at Reunion is just minutes from I-4 providing residents with excellent access to the areas’s top employers such as Walt Disney World, Universal Studios, NeoCity, Lake Nona, Darden Restaurants, Lockheed Martin, and AdventHealth.

...
Sold
Haven at Reunion
338 Units
7995 Haven Way
Kissimmee, FL  34747
Type: Conventional
Closed: 10/29/2019

The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 140-unit Orlando Sky apartment community located in Orlando, Florida. The asset is situated in the North West Orlando submarket currently experiencing 6.9% YoY rent growth. Built in 1985 & 1986, Orlando Sky offers an outstanding value-add opportunity that would result in the ability to raise effective rents $190 and earn a 19% return on investment after implementation of the proposed value-add plan.

...
Sold
Orlando Sky
140 Units
4990 North Lane
Orlando, FL  32808
Type: Conventional
Closed: 10/8/2019

Cushman & Wakefield, as exclusive advisor, is pleased to present the investment opportunity to acquire Ventura Pointe – a premier 206-unit apartment home community located in Pembroke Pines, Florida. The property is comprised of four- and five-story elevatored garden buildings with an average unit size of 958 square feet.

Ventura Pointe is centrally located in Pembroke Pines and provides convenient access to the employment markets of Miramar, Plantation, Sunrise and the South Florida Education Corridor. The property is also adjacent to the 301-bed Memorial Hospital Pembroke. Located on University Drive with drive-by exposure to 53,000 cars, residents have excellent access to retail and entertainment along the corridor with a new Lucky’s Market opening less than one mile from the property. Ventura Pointe opened in April 2018 and is finalizing its lease-up.

...
Sold
Ventura Pointe
206 Units
7850 Pasadena Blvd.
Pembroke Pines, FL  33024
Closed: 9/30/2019
Property is Located in a Designated Opportunity Zone With Long-Term Hold Tax Benefits

The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 120-unit Rosemont Country Club apartment community located in Orlando, Florida. The asset is situated in the Rosemont submarket. Built in 1975, Rosemont Country Club offers an incredible opportunity to raise effective rents at the property $627 through a renovation value-add program and achieve a 24% return-on-investment.

...
Sold
Rosemont Country Club
120 Units
5528 Cinderlane Parkway
Orlando, FL  32808
Closed: 9/11/2019

Cushman & Wakefield, as exclusive advisor, is pleased to present ORA Flagler Village - a luxury midrise apartment community with 292 units in Fort Lauderdale, Florida. Situated in Flagler Village, this rapidly expanding location offers a unique blend of walkability to trending retail and access to the most active office market in the county. The apartment homes were carefully crafted to feature two different finish packages and 10’ & 11’ ceilings throughout, resulting in new levels of luxury.

...
Sold
ORA Flagler Village
292 Units
673 NE 3rd Avenue
Fort Lauderdale, FL  33304
Closed: 9/2/2019

The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 137-unit Oak Ridge apartment community located in Largo, Florida. Built in 1974 of concrete block construction, Oak Ridge apartments offers new ownership the unique opportunity to purchase a rare majority Townhome-style community and capitalize on a proven existing renovation plan.

...
Sold
Oak Ridge
137 Units
13333 Ridge Road
Largo, FL  33778
Closed: 8/20/2019

Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire Altis Bonterra, a brand new, stabilized apartment home community located in greater Miami. The property has 314 residences in three-story buildings, all with private entrances and direct access garages to 35% of the apartment homes. Conveniently located with immediate access to I-75 and the recently completed infrastructure project connecting I-75 and the Florida Turnpike, residents can access the major employment markets within both Broward and Miami-Dade Counties. Additionally, two miles north, the $4 billion, 6.2M-square-foot American Dream Mall is approved and will be a catalyst for the area. Altis Bonterra is considered one of the highest quality suburban multifamily assets within Miami. The property boasts an established demographic with an average age of 37 and average household income exceeding $100,000. Altis Bonterra is being offered to the market for the first time by its nationally-recognized developer, The Altman Companies.

...
Sold
Altis Bonterra
314 Units
3545 West 98th Street
Hialeah, FL  33018
Type: Conventional
Closed: 8/15/2019

Cushman & Wakefield, as exclusive advisor, is pleased to present the extraordinary opportunity to acquire 8800 Doral (the “Property”) - a Class-AAA, 550-apartment-home, luxury midrise residential community located in the heart of Doral, Florida, offered for the first time by its globally-renowned developer, Hines. The Property was opened in 2018 and recently completed its lease-up. The Property is located at the Doral’s main and main, which makes it steps away from key points of interest such as Trump Doral and billions of dollars in mixed-use developments in Downtown Doral and CityPlace Doral. Within a one-mile radius of the Property is 5.1 million square feet of office space, including multiple international, North American, and regional headquarters. Driven by the abundance of high paying jobs and excellent schools, Doral is projected to continue its rapid growth - strengthening 8800 Doral’s long-term demand. 8800 Doral presents a rare opportunity to acquire a new construction, stabilized Miami-Dade luxury apartment community at the epicenter of its fastest growing city.

8800 Doral has been developed by Hines and designed by Arquitectonica. This combination of an industry leading developer and Miami based, world-class architect has positioned 8800 Doral as a long term, best-in-class asset that has set the standard for luxury living in Doral.

...
Sold
8800 Doral
550 Units
8800 Doral Blvd.
Doral, FL  33178
Type: Conventional
Closed: 8/14/2019
CALL FOR OFFERS MARCH 6, 2019
Available Individually or in Conjunction with Lakes at North Port

Cushman & Wakefield, as exclusive advisor, is pleased to present The Park at Ashley Place, located in New Port Richey, Florida. The asset is a 143-unit class "B" garden-style apartment community built in 1986 of concrete block construction.

The Park at Ashley Place offers a high impact value-add upside. Based on current market competitive set analysis, a value-add program will allow monthly market rents to be increased by an average of $212 per unit from the current in-place rents.

The community is just over a 30-minute commute to Downtown Tampa, Tampa International Airport, the Westshore Business District, plus only minutes from "A" rated Trinity Hospital and over 24 million square feet of new office and industrial space.

...
Sold
The Park at Ashley Place
143 Units
4031 Vista Verde Drive
New Port Richey, FL  34655
Closed: 8/8/2019

Cushman & Wakefield, as exclusive advisor, is pleased to present Mezzo of Tampa Palms, a 340-unit value-add multifamily asset located in Tampa, Florida. Constructed in 1992, the property features 3-story walk-up buildings with large units averaging 1,193 square feet. The seller has invested approximately $3.4 million in capital improvements consisting of extensive exterior renovations, amenity enhancements and partial unit upgrades.

...
Sold
Mezzo of Tampa Palms
340 Units
15210 Amberly Drive
Tampa, FL  33647
Type: Conventional
Closed: 8/1/2019

The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 271-unit Sterling Pointe apartment community located in Ocala, Florida. The asset is situated in the desirable area of the North Ocala Submarket. Built in the early 1980's to early 2000's, Sterling Pointe offers an outstanding value-add opportunity that would result in Effective Rental Income growth of 31% and a 22% Return-on-Investment once fully implemented.

...
Sold
Sterling Pointe
271 Units
3480 NE 48th Terrace
Ocala, FL  34488
Type: Conventional
Closed: 7/31/2019
CALL FOR OFFERS MARCH 6, 2019
Available Individually or in Conjunction with The Park at Ashley Place

Cushman & Wakefield, as exclusive advisor, is pleased to present Lakes at North Port, located in North Port, Florida. The asset is a 312-unit value-add, multifamily community built in 2000 of tunnel form concrete block construction.

Lakes at North Port offers a significant value-add opportunity through unit renovations, and the ability to achieve $268 average rent premiums increasing effective rental income by 22%.

The community is just over a 30-minute commute to Downtown Sarasota and Fort Myers encompassing over 700,000 jobs.

...
Sold
Lakes at North Port
312 Units
1015 Ohana Way
North Port, FL  34289
Type: Conventional
Closed: 7/25/2019
The Perfect Sunrise Location with Tremendous Upside

Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire Nexus Sawgrass, a 501-unit core-plus opportunity located in Sunrise, Florida. Developed in 2013, the property consists of a mix of four-story midrise and three-story garden buildings. Current ownership has been upgrading the bedrooms with hard surface flooring on 47 units and has been achieving average premiums of approximately $45. With the quality construction and location, Cushman & Wakefield projects additional upside potential to include: continuation of the hard surface flooring, upgraded light & fan package, backsplash, USB ports and updated appliances. The location of Nexus Sawgrass in Sunrise offers the ultimate in access to jobs and retail within a quintessential Florida suburban community. The property is less than two miles from the 612-acre, Sawgrass International Corporate Park and is walking distance to the 2.3 million sf Sawgrass Mills Mall. It also has immediate access to the Sawgrass Expressway, I-75, and I-595 which have undergone over $2.2B in improvements allowing residents direct commutes to the major employment centers in Broward and Miami-Dade Counties.

...
Sold
Nexus Sawgrass
501 Units
2903 NW 130th Avenue
Sunrise, FL  33323
Type: Conventional
Closed: 6/27/2019

The Cushman & Wakefield Multifamily Advisory Group is pleased to present the exclusive listing of the 132-unit Saddle Cove Townhomes located in Gainesville, Florida. This asset is situated in the desirable Gainesville-University South submarket. Built in 1979 of concrete block construction, Saddle Cove Townhomes offers an outstanding opportunity to invest in this well-designed community that offers a significant value-add opportunity while also capitalizing on the $1,100,000 +/- improvements recently implemented.

...
Sold
Saddle Cove
132 Units
3010 SW 23rd Terrace
Gainesville, FL  32608
Type: Conventional
Closed: 6/20/2019