The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the MarQ Vestavia, 170 units located in Vestavia Hills, AL (Birmingham MSA). Vestavia Hills features the state’s 2nd ranked school district (excluding magnet and charter schools), $150k Average Household incomes and heavily restricts new multifamily developments. This newly renovated asset arrives to market 98%+ occupied with strong organic rent growth trends featuring 6%+ rent growth YoY and a diminishing loss-to-lease trend. Originally constructed in 1973 and fully rehabbed in 2017/2018 as part of a $5.3M renovation, MarQ Vestavia represents the opportunity to acquire class A finishes in an idyllic suburban setting.
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MarQ Vestavia
170 Units
1800 Arboretum Circle
Vestavia Hills, AL  35216
Type: Conventional
Closed: 9/30/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group and Larry G. Schedler & Associates, Inc. are pleased to present the exclusive listing of Canebrake Landing, a 96-unit, 2022-built BTR community located in Maurice, LA, just 11 miles outside of Lafayette. Canebrake Landing is the first purpose-built BTR community in the Lafayette MSA. The property benefits from being the only BTR asset in a supply-strained market, where year-over-year rent growth is average 9.4%. Just 15 minutes from Lafayette and up-and-coming Youngsville, LA, the property is surrounded by a number of major employers and retail hubs. Built in 2022, the asset is comprised of large 3BR and 4BR floorplans, boasting premium modern finishes, average unit sizes of 1,498 SF, large 2-car garages and fenced backyards. New ownership is well positioned to capture upward momentum upon stabilization and by burning off current LTL. Canebrake Landing offers investors an outstanding opportunity to invest in a BTR asset in a high income suburb of Lafayette, LA.
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Canebrake Landing
96 Units
3503 Minvielle Blvd
Maurice, LA  70555
Type: Single Family Rental
Closed: 9/29/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is excited to present the exclusive listing of FarmHaus by Watermark, a Thompson Thrift Company. The property offers 324 Class A+ units located in one of the premier growth markets in the country, Huntsville AL. Huntsville, arguably one of the hottest economic metros in the U.S., has added $5B+ of capital investments since 2018 and has experienced 8% avg. rent growth since 2019. The asset is easily accessible via Hwy-72 to multiple job cores throughout Huntsville including Redstone Arsenal (44K+ jobs), Cummings Research Park (27K+ jobs), and the newly delivered Toyota-Mazda Plant (4K+ jobs). The area includes a Publix & 350K SF of proposed office space. Delivered in mid-2021, FarmHaus is one of the market’s top luxurious housing communities, featuring numerous designer finishes and top of the line modern amenities. Boasting excellent lease-up velocity (21 units/month on avg. & 0% LTL on last four of five move-ins), the asset is perfectly positioned to capture significant organic rent growth through second-generation leasing. The subject’s superb construction quality, retail proximity and connectivity to massive job cores ensures future ownership is optimally primed to achieve profitable upward momentum.
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FarmHaus by Watermark
324 Units
1260 Balch Road
Madison, AL  35757
Closed: 9/29/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 300-unit Mandalay Villas apartment community located in McDonough, Henry County, GA. This asset is situated in the rapidly-expanding I-75 South corridor, which comprises several major distribution hubs due to the proximity of Hartsfield-Jackson International Airport. The property benefits from one of the best locations in McDonough, featuring affluent demographics within a one-mile radius and over 1.2M SF of adjacent retail. Due to population rapidly outpacing multifamily supply, the property is primed for continued rent growth. Built in 2008, Mandalay Villas represents an outstanding opportunity to invest in a high-quality product below replacement cost with upside remaining via an interior value-add program.
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Mandalay Villas
300 Units
1395 Towne Centre Village Drive
McDonough, GA  30253
Type: Conventional
Closed: 9/29/2022
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%.
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The Avenue
503 Units
5939 W Friendly Ave
Greensboro, NC  27410
Type: Conventional
Closed: 9/29/2022

PROVEN ABILITY TO ACHIEVE PREMIUMS

A rent premium is being achieved on 14 recently upgraded units ($190+ avg.) and 70 units upgraded between 2010-2015 ($100+ avg.). A new owner could significantly increase revenue by completing the recent renovation program on the remaining 107 classic units and 15 hallways.

IN-DEMAND ONE AND TWO BED UNIT STYLES

English Village is a 1987 built property offering one and two bedroom units styles, which are in high demand. These unit types allow for attractive overall rent pricing.

ELEVATE EXISTING AMENITY SET

The new owner has the ability to easily elevate the existing amenities with minor changes. Suggestions include adding a bark park, package center, new signage and updating the existing playground.

WELL-MAINTAINED WITH RECENT CAPITAL IMPROVEMENTS

Various improvements have recently been completed to this well-maintained property. The clubhouse/office was upgraded with new flooring, paint scheme and furniture. Hallways received a new paint scheme and carpet, and 12 unit interiors were fully renovated.

CONNECTIVITY TO DOWNTOWN INDIANAPOLIS

The property's location on the near east side offers quick access to downtown Indianapolis' employment, entertainment and retail/dining options. Downtown is home to three Fortune 500 companies, 154,500+ employees with 1,000+ new jobs added in 2021.

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English Village
208 Units
545 English Village Drive
Indianapolis, IN  46219
Type: Conventional
Closed: 9/23/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 196-unit Stonegate & Stonehenge portfolio offering located in Warner Robins, Houston County, Georgia. This portfolio is situated in rapidly-expanding area of Watson Boulevard of Warner Robins. Built in 1969-1976, the portfolio represents an outstanding opportunity to invest in an untapped value add-potential in a growing market. With primarily classic units, the Portfolio offers new ownership the opportunity to completely renovate the property and garner a 22% ROI, boosting rent premiums an average of $136.
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Stonegate & Stonehenge (2 properties, 196 units)
Stonegate
126 Units
505 Northside Drive
Warner Robins, GA  31093
Type: Conventional
Closed: 9/23/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 196-unit Stonegate & Stonehenge portfolio offering located in Warner Robins, Houston County, Georgia. This portfolio is situated in rapidly-expanding area of Watson Boulevard of Warner Robins. Built in 1969-1976, the portfolio represents an outstanding opportunity to invest in an untapped value add-potential in a growing market. With primarily classic units, the Portfolio offers new ownership the opportunity to completely renovate the property and garner a 22% ROI, boosting rent premiums an average of $136.
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Stonegate & Stonehenge (2 properties, 196 units)
Stonehenge
70 Units
613 Greenbriar Road
Warner Robins, GA  31093
Closed: 9/23/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Element at East North, the 152-unit apartment community located in flourishing Greenville, SC. This asset is situated in a sought-after pocket of Greenville characterized by its young, affluent, and educated demographic base boasting high HHI’s ($84k+), white-collar workforce (64%), and exceptional projected rent growth (24% through 2026). The property is set to benefit from its desirable micro location surrounded by an abundance of high-end retail (Haywood Mall & Magnolia Point), Greenville County’s nationally ranked school district, and easy access to I-85 for residents to reach over 94k jobs within a 15-minute drive. Built in 1967, Element at East North arrives to market with a proven in-place value-add program that can be enhanced with Class-A finishes to command average premiums north of $250.
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Element at East North
152 Units
50 Glenwood Road
Greenville, SC  29615
Type: Conventional
Closed: 9/22/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 298-unit Reserve at 1200 & 1404 apartment communities located in Albany, Dougherty County, Georgia. These assets are situated in the desirable Northwest Albany area along arterial corridor, Whispering Pines Rd, which quickly connects residents to the market’s premier retail and major job hubs, including Pheobe Hospital. Built in 1973 & 1979, Reserve at 1200 & 1404 represent an outstanding opportunity to invest in a moderately renovated, proven value-add primed asset, poised to benefit from the Albany community.
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Reserve at 1200 & 1404
298 Units
1404 Whispering Pines Rd & 1200 Kingtown Ct
Albany, GA  31707
Type: Conventional
Closed: 9/20/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group and Larry G. Schedler& Associates, Inc., are pleased to present the exclusive listing of the 132-unit Townebridge Place apartment community located in Gretna, Jefferson Parish, LA. This asset is situated south of Metro New Orleans, just 5 miles from the new $1B River District Development. Effective rent in the area has grown 9.4% over the past 12 months, due to limited supply. Townebridge Place currently has all classic units and is primed for an interior value-add program to boost rental income. Built in 1984, Townebridge Place offers an outstanding opportunity to invest in a value-add asset in a supply strained submarket.
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Townebridge Place
132 Units
1615 Carol Sue Avenue
Gretna, LA  70056
Closed: 9/19/2022
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.
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Upstate Value-Add 5 Portfolio (5 properties, 912 units)
The Park at Bonito
180 Units
25 Pelham Road
Greenville, SC  29615
Type: Conventional
Closed: 9/15/2022
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.
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Upstate Value-Add 5 Portfolio (5 properties, 912 units)
The Park at Calabria
101 Units
100 Pelham Road
Greenville, SC  29615
Type: Conventional
Closed: 9/15/2022
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Brookside Park
88 Units
2 Quiet Creek Drive
Florence, KY  41042
Type: Conventional
Closed: 9/9/2022
The Cushman & Wakefield Student Housing Capital Markets Team, in conjunction with the Sunbelt Multifamily Advisory Group, is pleased to present the exclusive listing of Blanton Common, a student housing community located in Valdosta, Georgia catering to Valdosta State University. The property totals 277 units and 862 beds, built in 2006 with property-wide renovations throughout 2021 and 2022. This offering provides investors the opportunity to purchase a newly renovated student housing asset with significant preleasing momentum and proven upside yielding immediate returns.
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Blanton Common
277 Units | 862 Beds
1505 Lankford Drive
Valdosta, GA
Type: Student
Closed: 9/8/2022
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Marlee Villas
20 Units
7426 Frisco Avenue
Leeds, AL  35094
Closed: 9/8/2022
The Cushman & Wakefield Student Housing Capital Markets Team and Gulf States Multifamily Team is pleased to present the exclusive listing of The Social Campus, a 408-unit, 1,392 bed, apartment community located in Starkville, MS. This asset is situated directly adjacent to Mississippi State University with immediate access to the east side of campus. Built in 2011 and 2012, The Social Campus offers an outstanding opportunity to invest in a Class "A" pedestrian asset in a thriving university market that has shown continuous growth over the past decade.
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The Social Campus
408 Units | 1,392 Beds
14 Mary Lee Lane
Starkville, MS  39759
Type: Student
Closed: 9/2/2022
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Railway Manors
32 Units
913 N College Avenue
Bloomington, IN  47404
Closed: 8/31/2022

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

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The Lexington
267 Units
3510 Cheshire Square
Sarasota, FL  34237
Closed: 8/31/2022

Cushman & Wakefield, Inc. is pleased to present the exclusive opportunity to acquire the 236-unit Millennium East Apartments, the 100-unit Parc 17 Apartments, and the 140-unit V Lane Apartments.

Sellers are welcoming offers on individual assets as well as portfolio offers.

Las Vegas is one of the fastest growing and best performing multifamily markets in the nation (over 20% year over year rent growth), positioning Millennium East, Parc 17 Apartments , and V Lane Apartments as limited-risk investments with superior rent growth prospects and long-term value appreciation potential.

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Millennium East, Parc 17, V Lane (3 properties, 476 units)
Parc 17
100 Units
1700 North Lamb Blvd
Las Vegas, NV  89115
Closed: 8/29/2022

Cushman & Wakefield, Inc. is pleased to present the exclusive opportunity to acquire the 236-unit Millennium East Apartments, the 100-unit Parc 17 Apartments, and the 140-unit V Lane Apartments.

Sellers are welcoming offers on individual assets as well as portfolio offers.

Las Vegas is one of the fastest growing and best performing multifamily markets in the nation (over 20% year over year rent growth), positioning Millennium East, Parc 17 Apartments , and V Lane Apartments as limited-risk investments with superior rent growth prospects and long-term value appreciation potential.

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Millennium East, Parc 17, V Lane (3 properties, 476 units)
V Lane
140 Units
4316 East Tropicana Ave
Las Vegas, NV  89121
Closed: 8/29/2022

PORTFOLIO OPPORTUNITY SOLD BY LONG-TERM OWNER

Meridian Court South is a well-performing property being offered free and clear by the long-term owner. Meridian Court South can be purchased individually, or as a portfolio with the 532-unit Spinnaker Court to achieve scale with 821 total units.

CLEAR PATH TO SUBSTANTIALLY INCREASE REVENUE

At 98% occupancy, the property is primed for substantial increases to rents and income. This can be achieved by implementing water/sewer billback, lake view and W/D connection premiums, upgrading all 289 mainly original units, and adding amenities. Current rents trail the market by an average of $190+. Nearby properties have completed upgrades and are achieving significantly higher rents. A new owner could also simply continue to operate the properties as is without upgrades.

WELL MAINTAINED WITH DESIRABLE PROPERTY FEATURES

Significant improvements have recently been completed to this all brick property including replacement of all windows and sliders, new exterior doors, light poles, pool furniture, addition of two bark parks, fitness equipment, and more. Residents enjoy the maintained concrete streets throughout and the serene, park-like setting heavily wooded with mature trees and several lakes.

UPSCALE, GROWING SOUTH SIDE SUBURB

The property is under two miles from the city of Greenwood, a sought-after south suburb of Indianapolis enjoying 57% population growth since 2000. The affluent White River Township, immediately south boasts an average household income of $121K. The area is also known for well-performing schools and proximity to downtown Indianapolis and Columbus, offering numerous employment opportunities for residents.

HIGH TRAFFIC LOCATION WITH AREA'S BEST AMENITIES

The property has great visibility along the high-traffic SR-135. Residents benefit from immediate access to SR-135 and close-by US-31—dense corridors filled with the south side’s best shopping, dining and entertainment options. The popular Greenwood Park Mall, containing 1.2 million sf and more than 150 retailers, is less than three miles away.

Meridian Court South can be purchased individually, or as a portfolio with Spinnaker Court:

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Meridian Court South
289 Units
7250 S. Meridian Street
Indianapolis, IN  46217
Type: Conventional
Closed: 8/26/2022

PORTFOLIO OPPORTUNITY SOLD BY LONG-TERM OWNER

Spinnaker Court is a well-performing property being offered free and clear by the long-term owner. Spinnaker Court can be purchased individually or as a portfolio with the 289-unit Meridian Court South to achieve scale with 821 total units.

CLEAR PATH TO SUBSTANTIALLY INCREASE REVENUE

At 98+ occupancy, Spinnaker Court is primed for substantial increases to rents and income. This can be achieved by implementing water/sewer billback, lake view and W/D connection premiums, upgrading all 532 mainly original units, and adding amenities. Current rents trail the market by an average of $230+. Nearby properties have completed upgrades and are achieving significantly higher rents. A new owner could also simply continue to operate the properties as is without upgrades.

WELL MAINTAINED WITH DESIRABLE PROPERTY FEATURES

Significant improvements have recently been completed to this all brick property including replacement of all windows and sliders, new pool and decking, new exterior doors, light poles, balconies, addition of two bark parks, fitness equipment, and more. Residents love the maintained concrete streets throughout and the serene, park-like setting heavily wooded with mature trees and several lakes.

VIBRANT, GROWING WEST SIDE EMPLOYMENT

The property is ideally located on the west side of Indianapolis, adjacent to fast-growing and high-income Hendricks Co. Residents are close to an abundance of high-wage employment with easy access to the northwest side and downtown employment corridors. Major employment centers nearby are Ameriplex, Park 100, Intech Park and Indianapolis International Airport, among several others.

HIGH TRAFFIC LOCATION WITH AREA'S BEST AMENITIES

The property has great visibility along the high-traffic 38th Street with proximity to I-465 and I-74. Residents enjoy immediate access to the 3,800-acre Eagle Creek Park and 1,400-acre Reservoir, Indianapolis Motor Speedway, and all the best amenities downtown Indianapolis has to offer.

Spinnaker Court can be purchased individually, or as a portfolio with Meridian Court South:

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Spinnaker Court
532 Units
3685 St. Thomas Blvd.
Indianapolis, IN  46214
Closed: 8/26/2022
The Cushman & Wakefield Student Housing Team in conjunction with the Cushman & Wakefield Carolina’s Conventional Multifamily team is proud to present 33 East. This 264-unit, 1,056-bed student housing property is situated on 55.54 total acres serving students of East Carolina University (ECU) in Greenville, NC. The property is a well-built student housing community with 100% bed-bath parity and oversized common amenities and large units. Current ownership has addressed deferred maintenance and has a proven business plan in which renovated units currently achieve rental and occupancy premiums.
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33 East
264 Units | 1,056 Beds
3305 East 10th Street
Greenville, NC  27858
Type: Student
Closed: 8/25/2022