Cushman & Wakefield, as exclusive advisor is pleased to present the opportunity to acquire Elan Maison, a brand new, 394-apartment home community located with greater Ft. Lauderdale. The property recently stabilized by averaging over 30 leases per month.
Elan Maison redefines the standard for apartment living being the only garden-style apartment with enclosed air-conditioned corridors and cutting-edge finish levels both inside the units and throughout the common areas. It has unmatched accessibility along I-595 with direct access the major South Florida Roadways.Elan Maison is being offered for the first time to the market by its developer, nationally recognized Greystar.
Lodge at Trails Edge is a 268-unit luxury apartment community located in the popular Nora/Castleton area on Indianapolis’ affluent far north side. The community was originally built in 1981. In 2001 a building with twenty units was added. Situated on 20 well-landscaped acres, the property has great curb appeal and offers its residents a truly park-like setting and that includes a lake with two fountains, many mature trees, and ample green space. The immensely popular Monon Trail runs along the property’s western edge.
The site includes the clubhouse/office/amenity building, a shop, and 13 residential buildings. Lodge at Trails Edge offers a mix of 136 one-bedroom flats and 132 two-bedroom flats. Features vary by unit type but include attractive floor plans with kitchens with breakfast bar, ample pantry space, a full appliance package, private patios and/or balconies, and oversized closets..
Ninety-six units have fireplaces; sixty-one units have washer/dryer hookups, and seventy-two units overlook the central lake and its two fountains.
Kenwood Village, located in the Duluth Heights/Kenwood neighborhood of Duluth, MN, is a Class A apartment building with 14,000 square feet of first floor retail. The property received its certificate of occupancy in February 2017 and leased up with a high degree of interest from university employees, graduate students and people who recently sold their nearby homes in the Kenwood neighborhood. The strong performance of Kenwood Village can be attributed to its close proximity to the University of Minnesota - Duluth and the College of St Scholastica, superior amenities, access to public transit, nearby shopping and spectacular views.
The retail portion offers long-term leases by Amazon Proof retailers. Three of the four current tenants have signed 10-year leases including Caribou Coffee/Einstein Bagels, Crooked Pint, and Duluth Teachers Credit Union, making up 73% of the retail space. Runa Yoga and Experimac complete the list of current tenants and there is value-add potential in leasing up the remaining 1,082 square feet of vacant space. Other key retailers in this area include SuperOne Foods, Papa Murphys, Arby’s, UPS, Cost Cutters, Erbert’s & Gerbert’s and Walgreens.
Cushman & Wakefield, as exclusive advisor, is pleased to present Riviera Hills - a 84-unit value-add opportunity located at 5220-5435 NW 18th Place in Lauderhill, Florida. The property offers 26 studios, 6 1BR/1BA, 34 2BR/1BA and 16 2BR/2BA units averaging 694 square feet. The rents are below market and can be increased generating additional revenue by $170,000.
Riviera Hill’s central Broward location is a magnet for employees working in the area’s largest employment centers, such as Plantation, Sunrise and Fort Lauderdale. The property is 2 miles east of Plantation Pointe, a 900,000 square foot office park with high-profile tenants including Motorola, Envision, and Magic Leap. The property is also about 5 minutes east of University Drive which serves as the main thoroughfare in the area, with various retail and dining options. Lastly, Riviera Hills is just a mile north of the Florida Turnpike’s ramp on Sunrise Boulevard allowing quick access to all major South Florida employment centers.
Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present Park Vue of Alexandria, a core-plus, infill high-rise community in one of the Washington metro region’s most dynamic corridors. Built in 1965, Park Vue of Alexandria has recently received a large infusion of capital to improve the asset and create additional tenant amenities. The Property offers proven value-add with rental premiums being achieved based on the current kitchen and bath upgrade program. This can be enhanced to mirror similar properties in the submarket for additional rent increases. Park Vue of Alexandria’s location along the dynamic I-395 corridor is one of the best in the region for access to the many major employers and the most significant employment centers in the Washington metro. The Property is only 5-minutes from Potomac Yards, one of Northern Virginia’s fastest growing retail and amenity centers, with a future Metro station currently in the planning process. Park Vue of Alexandria’s irreplaceable location and additional renovation upside presents investors with the rare opportunity to acquire a core-plus, infill high-rise in one of the Washington region’s best locals.
The Lenox is an exceptionally well-maintained 200-unit apartment community located on the popular northeast side of Indianapolis. Built as a luxury community in 1972, the property consists of nine brick, two-story residential buildings and an office / clubhouse. The large clubhouse contains a community room with fully-equipped kitchen and fireplace, 24-hour fitness center, and a business center with free wi-fi. In addition to the clubhouse, community amenities include a pool with sundeck, playground, laundry facilities in each building, garages and carports, and available extra resident storage.
Regency Court is a 125 unit community, located at 1616 S Henderson Street in Bloomington, Indiana. The property is located just east of Walnut Street, a high traffic north/south thoroughfare running directly through Downtown Bloomington. The city bus, Route 7, stops at the Regency Court entrance and conveniently takes residents north (to downtown and the Indiana University Campus) or south (to the Walnut Street Shopping Centers). The community is also walking distance from Bloomington South High School and Templeton Elementary School.
Regency Court is made up of 36 one bedroom apartments, 14 two bedroom townhomes, 30 three bedroom townhomes, and 28 four bedroom townhomes. Also, there are 4 duplexes, 1 two bedroom house, 1 three bedroom house, and 7 five bedroom homes. All units have washers and dryers.
The "South Beach Resort" is THE premier multifamily asset in the Las Vegas valley, as it combines true resort living with an unequaled lifestyle and hospitality experience. Recently completed, the property is poised to take advantage of the fastest growing submarket in Las Vegas. Location and asset type makes this a unique offering, as the property is nestled between the Red Rock Canyon National Conservation area and the famous Las Vegas Strip, and benefits from proximity to Downtown Summerlin, and ease-of-access to major expressways & transportation.
Currently, Las Vegas is the 29th largest MSA in the United States, and number two in rent growth among major metros. Rent growth figures have averaged above 6% through 2016 and 2017, and the Southwest market continues to have the highest rent growth figures in the greater MSA. Additionally, Las Vegas leads the country in job creation, with year-over-year job gains of 3.3%. In total, 43,800 jobs were created through 2016 & 2017, and unemployment has stayed stable at 4.9%. This job growth, paired with above-average population growth, continues to expand the local rental market.
The result is a creation of the next generation of multifamily living that has never been witnessed in Las Vegas, or nationwide.