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
Cushman & Wakefield, as exclusive advisor, is pleased to present a value-add investment opportunity to acquire Heron Landing, a 144-unit community featuring 100% two-bedroom units. The property features an expansive average unit size of 1,053 square feet with a unique unit mix of all two-bedroom units. Built in 1988, the property is perfect positioned for new ownership to implement a significant value-add renovation program as well as an opportunity to enhance the unique amenity spaces.

Located at Pine Island Road & Commercial Boulevard, the property is perfectly situated just minutes from the Sawgrass Expressway, allowing for quick commutes to the other major thoroughfares throughout Broward. This will allow residents to easily commutes to the area's major employment centers including Sawgrass Corporate Park, Plantation, Cypress Creek, Boca Raton and Downtown Fort Lauderdale.
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Heron Landing
144 Units
5280 NW 88th Avenue
Sunrise, FL  33351
Type: Conventional
Closed: 9/16/2022
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
Cushman & Wakefield as exclusive marketing advisor, is pleased to present the opportunity to acquire Valencia South Miami, 70 out of 301 Class A condominium units footsteps from South Miami Hospital, University of Miami, Metro-Rail, and Dadeland. Built in 2004, Valencia South Miami is a 6-story building with a structured parking garage, luxury amenities, and large floor plans that average 1,054 square feet. The 70 units are 100% occupied with $2,380 average market rents. The property is strategically located adjacent to the Metrorail Station of South Miami, only a block away from the 453-bed Baptist South Miami Hospital and a mere 0.2 miles away from Sunset Place, South Miami’s largest shopping mall. Within a 2-mile radius around the property there are 5.4M square feet of retail and 4.4M square feet of office space. Dadeland Mall, a 1.5M square feet mall is located 1.4 miles southwest of the property, in the heart of downtown Kendall, an office market with over 1.5M square feet of Class A office space. The mall is only two Metrorail stops away. Valencia South Miami is one Metrorail stop from the University of Miami campus. The university has a total enrollment of almost 17,000 with approximately 75% living off campus. It also has more than 13,000 full and part-time faculty and staff.
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Valencia South Miami
70 Units
6001 SW 70th Street
Miami, FL  33143
Type: Condo
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
Cushman & Wakefield, as exclusive advisor, is pleased to present an urban infill investment opportunity to acquire Manor Broken Sound – South Florida’s premier 297 apartment home asset located in Boca Raton, Florida. The property is comprised of a six-story midrise and two-story villas with garages and has a combined average unit size of 1,118 square feet. Manor Broken Sound is centrally located in the heart of the Park at Broken Sound and provides immediate access to 8.8 million square feet of office and industrial , making it one of South Florida’s most dynamic live and work environments. The property opened in February 2022 and was developed by nationally recognized Related Group.
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Manor Broken Sound
297 Units
5400 Broken Sound Blvd NW
Boca Raton, FL  33487
Closed: 9/8/2022
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Marlee Villas
20 Units
7426 Frisco Avenue
Leeds, AL  35094
Closed: 9/8/2022

Cushman & Wakefield, as exclusive advisor, is pleased to present Palm Springs, a garden-style value-add apartment community consisting of 86 units in Hialeah, Florida (the “Property”). The Property features a distinct unit-mix with 59% two-bedroom units and 41% one-bedroom units. The Property is 95% occupied with an average market rent of $1,274 per unit. With modest unit upgrades there is an additional $150 per unit per month rent upside.

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Palm Springs (3 properties, 86 units)
565-595 Palm Springs
48 Units
565-595 West 51st Place
Hialeah, FL  33012
Closed: 9/6/2022

Cushman & Wakefield, as exclusive advisor, is pleased to present Palm Springs, a garden-style value-add apartment community consisting of 86 units in Hialeah, Florida (the “Property”). The Property features a distinct unit-mix with 59% two-bedroom units and 41% one-bedroom units. The Property is 95% occupied with an average market rent of $1,274 per unit. With modest unit upgrades there is an additional $150 per unit per month rent upside.

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Palm Springs (3 properties, 86 units)
725 Palm Springs
22 Units
725 W 29th Street
Hialeah, FL  33014
Closed: 9/6/2022
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
Sold
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, as exclusive advisor, is pleased to present this landmark, LEED Silver, mixed-use development. This 1.2 million square-foot project provides a true live-work-play ecosystem by incorporating 495 luxury residential units with the prestigious Life Time (NYSE: LTH) athletic resort and co-working space along with renown onsite amenity retailers like Trader Joe’s and Graziano’s Restaurant and Market.

Dedicated to the pursuit of healthy living, the Life Time facility is over 90k square feet and includes a plethora of amenities such as a comprehensive fitness center, café, child care, and spa, along with health, nutrition, and fitness consulting. In addition, a 24k square-foot coworking space provides residents and members alike with a myriad of options from complete office spaces for small companies to shared desks and common areas for co-working and WFH uses. Current programming provides residents of the 495 luxury multifamily units with free membership to Life Time Athletic.

This one-of-a-kind project sits prominently on US-1 in world-renowned Coral Gables with excellent access to employment and walkability to the Shops at Merrick Park. Resident demographics are exceptionally strong with average household incomes of over $500,000. The property represents a rare opportunity for a large-scale mixed-use acquisition in one of the highest barrier-to-entry and most affluent submarkets in Miami.
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Life Time Coral Gables
495 Units
237 S Dixie Hwy
Coral Gables, FL  33133
Closed: 8/26/2022

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
7266 Lockwood Ln
Indianapolis, IN
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