Cushman & Wakefield, as exclusive marketing advisor, is pleased to present The Whittier, a 19-unit unique waterfront opportunity located at 4035 North Meridian Avenue in Miami Beach. The units average 721 square feet and are currently 100% occupied. The property is owned by an investor out of the country and managed with a third party company. A new owner has the ability to improve the operational performance at the property with more “hands on” management. Comparable properties are renting for $150 per unit higher than in-place rents.
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The Whittier
19 Units
4035 North Meridian Avenue
Miami Beach, FL  33140
Closed: 7/21/2020

Cushman & Wakefield, as exclusive advisor, is pleased to present Woodland Key Apartments, a 416-unit value-add multifamily community in Clearwater, Florida.

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Woodland Key
416 Units
2770 Roosevelt Blvd
Clearwater, FL  33760
Closed: 7/17/2020
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The Park at Deerfield
320 Units
3627 Cedarbrook Drive
Hoover, AL  35216
Type:  Multifamily
Closed: 7/13/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is excited to present the exclusive listing of Watermark at Bridge Street Town Centre, a Thompson Thrift Company. The property offers 244 Class A+ units located in the rapidly expanding city of Huntsville, AL. Huntsville, arguably one of the hottest economic metros in the U.S., has added 12K+ jobs & $5B of capital investments since 2018. Embedded within the Bridge Street Town Centre development, the subject offers walkability to 550K+ SF of Class "A" retail & office space. The asset is adjacent to Cummings Research Park, the 4th largest research park in the world, which is home to 300+ companies & 27K+ jobs. Delivered in March 2019, Watermark is the pinnacle of new residential design, featuring designer finishes & state-of-the-art amenities. The asset has proven out excellent lease-up velocity & is primed to capture substantial organic rent growth through second-generation leasing. The subject’s quality construction, retail walkability, and connectivity to massive job cores will position future ownership to achieve profitable upward momentum.
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Watermark at Bridge Street
244 Units
6854 Governors West NW
Huntsville, AL  35806
Closed: 7/9/2020
Cushman & Wakefield is pleased to present for sale, Boutique 28, a 42-unit luxury Multifamily development in the Uptown neighborhood of Minneapolis.

Completed in 2016, Boutique 28 offers residents access to a best-in-class amenity package and high-end finishes throughout the property. The property boasts large, thoughtfully designed floorplans that include 12 walk-up/penthouse townhome units with private patios and rooftops. The units offer condo-quality interior finishes such as stainless steel appliances, quartz countertops, walnut hardwood floors, and in-unit washer/dryers.

Adding to the uniqueness of the offering, Boutique 28 offers the potential future exit strategy of converting to and selling individual units as condominiums in a market that has limited new home supply.

Located in the heart of Uptown Minneapolis, Boutique 28 offers direct access to the Midtown Greenway, Metro Transit Station, and an eclectic mix of boutique shops, trendy eateries and bars, art galleries, and recreational assets in the neighborhood include Lake of the Isles and Bde Maka Ska.

Boutique 28 is a unique opportunity to acquire a newly constructed, best-in-class Multifamily asset in a desirable community whose construction quality and level of finishes will stand the test of time.
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Boutique 28
42 Units
2817 Girard Ave S
Minneapolis, MN  55408
Closed: 7/1/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Ashford 2788, a 297-unit apartment community, which has recently received significant capital infusions, and is located in Atlanta’s rapidly developing Upper Westside. Ashford 2788 is positioned to greatly benefit from the continued investment into West Midtown and the Upper Westside that has established itself as a rapidly evolving employment and entertainment hub with unparalleled access to all of Atlanta’s major job nodes. The asset’s Upper Westside location benefits from millions of square feet of new office and retail space, bringing in a wave of population growth with a minimal new construction pipeline. Ashford 2788’s strategic value-add scope provides renters with the premium choice for a renovated apartment while leaving ownership material upside via continued implementation of the in-place renovation scope.
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Ashford 2788
297 Units
2788 Defoors Ferry Road
Atlanta, GA  30318
Type:  Multifamily
Closed: 6/30/2020
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 52-unit Heron Lakes apartment community located in Mobile, Alabama. This asset is desirably positioned just off Government Blvd and within the Heron Lakes Country Club neighborhood (85k HH incomes, $300-$700k home values), which provides the community with a highly affluent renter pool. Heron Lakes also sits minutes from the area’s top employers (Mobile Aeroplex, Downtown) and 12M+ square feet of quality retail space (Shoppes at Bel Air, McGowin Park, etc). Built in 1972 and renovated in the mid-2000’s, Heron Lakes offers the investor a well-maintained property with strong in-place cash flow and substantial further value add upside.
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Heron Lakes
52 Units
1164 Skywood Drive
Mobile, AL  36693
Closed: 6/29/2020

Cushman & Wakefield, as exclusive advisor, is pleased to present an exceptional investment opportunity to acquire Innovo Living on Atlantic (the “Property”) —a 310 unit, multifamily asset located in Coral Springs, Florida. The property is comprised of 48% one-bedrooms, 52% two-bedrooms. Completed in 1987, Innovo Living on Atlantic received an extensive capital infusion which included a brand new 5,138 square foot clubhouse featuring an expansive lounge area, climbing wall, fitness center, Yoga and Pilates studio, lap pool and business center. The interior units were completely repositioned to feature new cabinets, counter tops, appliances, lighting and hard surface flooring throughout. Additionally, the second floor units were modified to feature vaulted ceilings in the living area. The property has excellent drive-by visibility along Atlantic Boulevard with exposure to over 36,000 cars daily and is less than two miles from the Sawgrass Expressway providing access to over 47.7 million square feet of office within the major employment sectors of Sunrise, Plantation, Cypress Creek, Fort Lauderdale and Boca Raton.

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Innovo Living on Atlantic
310 Units
790 Harbor Inn Drive
Coral Springs, FL  33071
Closed: 6/25/2020
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Prattville at Highland Lakes
224 Units
1908 Briarwood Street
Prattville, AL  36067
Closed: 6/23/2020

Kingston Square is a 523-unit work force housing apartment community located on Indianapolis’ suburban east side. Originally developed as a co-op, it was converted to traditional for-rent apartments when the current owner purchased the property in 2013. The residents have benefited from this conversion as the current owner has completed $7.3 million+ in renovations, including a 24hr fitness center, interior unit upgrades and much more.

The community is situated on 24 acres with 29 two-story buildings. It offers an attractive mix of studios, 1-and 2-bedroom units, along with 2- and 3-bedroom townhomes. All the townhome units have washer/dryer hook ups. The units feature baseboard heating with electric sleeve air-conditioning unit, fully-equipped kitchens including new dishwashers and laminate flooring, upgraded bathroom vanities and plumbing fixtures, and a balcony/patio.

Kingston Square is located immediately west of I-465 off Shadeland Avenue, a major commercial thoroughfare, with convenient access to I-70 and I-69. The daily average traffic count on Shadeland is approximately 20,788 cars and I-465 is over 181,000 cars. Residents enjoy a quick commute to downtown Indianapolis and to the popular northside of Indianapolis.

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Kingston Square
523 Units
7171 Twin Oaks Drive
Indianapolis, IN  46226
Closed: 6/17/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of 511 Queens, a 64-unit boutique apartment community located in Charlotte’s affluent submarket of Myers Park. The walkable neighborhood is defined by upscale retail, trendy restaurants, and is one of the most sought-after residential submarkets in the Southeast. Myers Park is nestled between Uptown, the vibrant downtown employment district offering 116,000+ jobs, and SouthPark, a premier infill live-work-play destination. It is also moments from the city’s largest hospitals of Novant and Atrium, creating 32,000+ total jobs. Propelled by luxurious best-in-class features and a distinguished presence along Queens Road, 511 Queens arrives nearing stabilization after a rapid lease-up with strong in-place rents. With stabilization imminent, investors are ideally positioned to realize embedded rent growth driven by the continuation of proven lease-up concession burn off, attractive fundamentals highlighted by blue-chip renter profiles, and catalyzing new development surrounding Myers Park, positioning 511 Queens as Charlotte’s premier boutique asset.
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511 Queens
64 Units
511 Queens Road
Charlotte, NC  28207
Type:  Multifamily
Closed: 6/16/2020
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Jax Apartments
65 Units
2333 NE Jackson Street
Minneapolis, MN  55418
Closed: 6/15/2020
Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire 2531 Grove Way (the "Property"), a newly renovated multifamily community situated in one of the East Bay’s most sought-after submarkets and with no local rent control ordinance. Comprised of (10) two-bedroom townhouse-style apartment homes, the Property has been repositioned to provide one of the premier rental living experiences in the Castro Valley area by offering fully upgraded condominium-quality interiors, in-unit washers/dryers, private individual yards and private garages.

Surrounded by major employers such as Sutter Health, Oracle, Workday, Kaiser and Roche Molecular Systems, 2531 Grove Way experienced a remarkably successful post-renovation lease-up and boasts an average new resident household income of $140,000+ annually. The Property’s instant access to the nation’s top performing economy combined with the area’s severe housing imbalance is expected to result in 47% rent growth by 2029 which far outperforms similar, preferred inner Bay Area locations. 2531 Grove Way offers investors the rare opportunity to acquire a fully-featured and turnkey multifamily investment with embedded upside.
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2531 Grove
10 Units
2531 Grove Way
Hayward, CA
Closed: 6/10/2020
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Queensview West Apartments
36 Units
2785-2789 Queen City Ave.
Cincinnati, OH  45238
Type:  Multifamily
Closed: 6/1/2020
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Glenrock
180 Units
2730 Dave Ward Dr
Conway, AR  72034
Type:  Multifamily
Closed: 5/22/2020

The Sycamores Apartments is a well maintained 210 unit community that has been owned and operated by the seller since 1992. The community is situated on 22 acres and located on Indianapolis’ southeast side. The property has mature trees and vast greenspace.

The property offers an attractive unit mix of one, two and three bedroom garden-style units with open floorplans and private entrances. The Sycamores offers untapped value add and upgrade potential by completing unit updated, adding washer/dryer hookups to all unit styles, allowing pets, converting a laundry building to a pet spa and adding a bark park.

The property is located just north of Stop 11 Road and just east of US-31 (the main north-south road in Indianapolis) on the city’s south side. The location provides The Sycamores a quiet atmosphere while being convenient to dining, entertainment and major employment centers.

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Sycamores
210 Units
1614 E. Stop 11 Road
Indianapolis, IN  46227
Type:  Multifamily
Closed: 5/21/2020

Park 33 is a 188-unit brand new Class A luxury apartment community built in 2018 and located in Goshen, Indiana. The community is situated on 14 acres and has 16 residential buildings, a leasing office and a sparkling pool. The property offers an attractive unit mix of 1 and 2 bedroom units with all single-story buildings, private entries and washer/dryer connections in all units.

The community offers an attractive mix of, 2 and 3-bedroom units and all with a full-size washer/dryer and half with direct garage access. The units include high-end finishes such as granite countertops, wood cabinets with high gauge drawer pulls, a flat glass-top range, a deep under-mount stainless-steel sink, energy-efficient appliances and vinyl plank flooring.

The amenities at Park 33 are equal to or exceed any of its peers. A beautiful clubhouse offers a 24-hour fitness center as well as the leasing and management office. Other amenities include a sparkling swimming pool, a fire pit, a grilling station, a bark park and a 24-hour package room.

The property 's location provides easy access to many employers and an abundance of economic activity.

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Park 33 - Goshen
188 Units
1401 Park 33 Blvd
Goshen, IN  46526
Type:  Multifamily
Closed: 5/15/2020
Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present Ravensworth Towers, a well maintained value-add high-rise apartment community in a supply constrained submarket within the Washington Metro area. Built in 1973, Ravensworth Towers has recently received a large infusion of capital to improve the asset quality. The Property offers a proven value-add opportunity with current rental premiums of approximately $120 based on a comprehensive upgrade that includes stainless steel appliances, plank wood flooring throughout the unit and new washers and dryers. This renovation package can be enhanced to mirror newer product in the submarket for additional rent increases. Similar properties in the submarket that have undergone full renovations currently rent at $195 more than Ravensworth Towers, and instituting a full renovation package can achieve rental premiums that will close the gap between the Property and its competitors. Ravensworth Tower’s location in proximity to I-495 and I-395 provides immediate access to the region’s many major employers and the most significant employment centers throughout the Washington Metro area. The Property’s desirable location and additional renovation upside presents investors with the rare opportunity to acquire a value-add, infill high-rise in one of the Washington region’s best locales.
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Ravensworth Towers
219 Units
4327 Ravensworth Rd
Annandale, VA  22003
Closed: 5/7/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group and Larry G. Schedler & Associates, Inc. are pleased to present the exclusive listing of the 183-unit Lake Terrace Gardens apartment community located in New Orleans, LA. This asset is situated in the thriving and diverse city of New Orleans, LA, less than five miles north of the French Quarter and less than two miles from the 1,300 acre City Park. Lake Terrace has little to no direct competition, due to the barriers of City Park to the west and Lake Pontchartrain to the north. Built in 1963 and renovated in 2008, Lake Terrace Gardens offers an outstanding value-add opportunity in a prime suburban in-fill location.
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Lake Terrace Gardens
183 Units
1620 Robert E Lee Blvd
New Orleans, LA  70122
Closed: 5/5/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 80-unit Briarcliff apartment community located in Wilson, NC. This asset is situated within close proximity to the area’s premier retail and employment and is also strategically located near the intersection of I-95 and I-795, providing ease of access to both Raleigh and Wilmington. In addition to the location advantages, the submarket has seen a phenomenal 6% year-over-year rent growth since 2016. This growth is a result of an increasingly affluent renter base who are projected to see a 10% increase to HHI income over the next 5 years, while unemployment levels dwindle to 3.8%. Built in 1966, Briarcliff represents the opportunity to investment in an asset that has recently received a large-scale exterior renovation and is primed to see a 50% increase to NOI through a multipronged value-add program.
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Briarcliff
80 Units
400 Crestview Ave SW
Wilson, NC  27893
Closed: 4/23/2020

Emerson Village Apartments, situated on 23 acres, is a 352-unit community conveniently located on the southeast side of Indianapolis. With exceptional visibility directly on a major north south thoroughfare, the property has mature trees, two lakes and provides a quiet neighborhood setting.

The well-maintained property was built in two phases, Phase I 1987 and Phase II 1988 with approximately thirty percent of the units currently upgraded allowing the new ownership the ability to further increase revenue by continuing the unit upgrades.

Located in Franklin Township, on the southeast side of Indianapolis, Emerson Village enjoys exceptionally easy and convenient access to downtown Indianapolis, local restaurants and employment.

Offered Free and Clear, the property’s stable financial performance will allow for the most competitive and attractive new debt structure.

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Emerson Village
352 Units
5140 Emerson Village Drive
Indianapolis, IN  46237
Type:  Multifamily
Closed: 4/22/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Nissen Building Apartments - a 145-unit, historic mixed-use, high-rise asset in the heart of flourishing downtown Winston-Salem. Attention to detail during the 2005 Nissen Building redevelopment, unique amenities, and existing quality of finishes provides the ideal canvas for a market-supported value-add platform to close a $200+ rent gap to competing downtown properties, while a perpetual 50% tax abatement drives cash flow. With frontage on 4th Street, Nissen Building residents enjoy supreme walkability to the Triad’s largest employers and eclectic entertainment venues in downtown Winston-Salem - a center city submarket that has witnessed nearly $2B of investment since 2000 as part of a continued renaissance. Drastically underserved by class A apartment units, downtown Winston-Salem boasts picture-perfect supply/demand fundamentals, offering investors of Nissen Building Apartments a chance to acquire a high-rise asset at an attractive basis with a protected rent growth runway.
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Nissen Building Apartments
145 Units
310 Fourth Street West
Winston-Salem, NC  27101
Type:  Multifamily
Closed: 4/17/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 400-unit The Hills on Breckinridge apartment community located in Duluth, Gwinnett County, Georgia. This asset is desirably positioned just off Pleasant Hill Rd., along the thriving I-85 northeast Atlanta corridor. Since acquisition, current ownership has invested $3M in capital improvements - creating in-place organic rent growth and significant potential for the next investor to completely round out the community. Built in 1985, The Hills on Breckinridge offers a rare opportunity in Gwinnett's high-growth submarket with proven upside.
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The Hills on Breckinridge
400 Units
3450 Breckinridge Boulevard
Duluth, GA  30096
Type:  Multifamily
Closed: 4/16/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 360-unit, Abbington Place apartment community located in Greensboro, North Carolina. Built in 2 phases (1995/1997), the low-density property received a recent capital investment of $3.86M that included new roofs, community amenity and parking lot enhancements, structural repairs, and interior upgrades to 65% of units. The demographics of the 1-mile radius surrounding Abbington Place outperform the broader market on nearly all fronts, with a 72% white collar workforce, 1.9% unemployment rate, and 50% of the population possessing higher education degrees. As the Greensboro-High Point MSA pipeline remains steady, the submarket will see a pause in development, having absorbed a recent surge in supply with ease. This strong market indicates the potential to take current, mid-tier renovations a step further at the property with the opportunity to boost annual NOI by 41% through a multi-faceted value-add 2.0 program.
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Abbington Place
360 Units
1521 Bridford Parkway
Greensboro, NC  27407
Type:  Multifamily
Closed: 4/14/2020