Cushman & Wakefield, as exclusive advisor, is pleased to present Ascend at 95 - a 300-unit, Class A garden residential asset. The property is comprised of 12, 3-story garden buildings with a combined average unit size of 977 square feet. Appropriately named, Ascend at 95 is less than ½ mile from I-95 and directly visible to over 160,000 cars daily. Located on Florida’s Space Coast, the area is known for its dynamic job growth and access to some of the top tech and space innovators such as Lockheed Martin, Northrop Grumman, Blue Origin and L3 Harris. Completed in September 2019, the property sets the standard for luxury apartment living with market leading finishes and amenities.
Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire Pearl Flagler Village – the premier midrise apartment community in the emergent Flagler Village neighborhood within Fort Lauderdale, Florida. Comprising 350 apartment homes, this 7-story multifamily building opened and began leasing in January 2019 and units have been quickly absorbed. The property is nearing the end of its lease-up – it is 83% leased and 73% occupied and is projected to stabilize by the end of December. With a 92 Walk Score the property has access to the rapidly expanding nearby amenities and the most active employment market in Broward County. Developed by Morgan Group, the property sets the standard for luxury apartment living with market leading finishes and amenities.
Warren Harbor Apartments built in 1971 is a 240-unit apartment community located on Indianapolis’ suburban east side. The community is situated on 26.1 acres that has 10 residential buildings, a very large clubhouse with an indoor pool, and vast greenspace. The property offers an attractive unit mix of 1, 2 and 3 bedroom garden style units. Directly off I-70 and I-465, Warren Harbor enjoys easy and convenient access to downtown Indianapolis, local restaurants and employment.
The current owner purchased the property in 2015 when the property was highly distressed and underperforming. During their ownership they have fully renovated 111 units and partially renovated 84 units. They also cured a number of major physical issues at the property including creating proper drainage, installation of new asphalt and new roofs. There is one building that remains down that contains 24 units which are gutted and not rentable.
The acquisition of Warren Harbour offers the new owner the opportunity the continue to stabilize the community and increase revenue by bringing all units online, continuing unit upgrades and enhancing the amenities.
946 MLK is located on the campus of IUPUI providing walkability not only to the buildings of the University but also to the incredible perks of living downtown.
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.