Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire Mosaic at Miramar Town Center, a 487-unit core-plus opportunity located in Miramar, Florida. Developed in 2015, the property contains a unique mix of townhome and midrise units located within the 54-acre master planned Miramar Town Center – a “downtown” with office, retail and civic buildings. The property is well positioned for a new owner to benefit from a value-add program enhancing the unit interiors to include: hard -surface flooring in the bedrooms, new interior paint scheme, backsplash, upgraded refrigerator and technology package. Current ownership has modestly renovated approximately 30 units and has been achieving premiums of $100-200 for bedroom flooring and an additional $25 for new interior paint. There is an established onsite demographic with an average age of 37 and average household income of $104,519 creating a rent-to-income ratio of 21.3%. The location of Mosaic at Miramar Town Center offers the ultimate walkability with excellent access to surrounding jobs, retail amenities and major roadways. Within three miles of the property, there is in excess of 13.2M square feet of office/industrial space.
The acquisition of Pebble Brook Village represents an opportunity to acquire a highly sought after 2001-built property is an affluent location. While very well maintained, unit finishes are largely original to the 2001 construction, offering a clean slate to complete unit upgrades and property enhancements. The property features amenities and unit layouts that compete very well with new construction properties.
The property is located in Noblesville, IN, a desirable high-end high growth suburb of vibrant and growing Indianapolis. Pebble Brook is being offered free and clear.
Cushman & Wakefield, as exclusive advisor, is pleased to present an urban infill investment opportunity to acquire Altis Boca – South Florida’s premier 398-apartment home asset located in Boca Raton, Florida. The property is comprised in a 6-story midrise design with a combined average unit size of 1,005 square feet. Altis Boca is walkable to Park Place Shopping retail center anchored by a Fresh Market and six restaurants, ranging from fast casual to white tablecloth. The property is also located in Palm Beach County largest office market and is adjacent to the 625,000 square foot Office Depot world headquarters; making it one of South Florida’s most dynamic live and work environments. Developed by nationally recognized Altman Companies, Altis Boca Raton represents the rare opportunity to acquire one of the best apartment home communities in the Southeast United States within the highly coveted location of Boca Raton.
Coveted opportunity to purchase a 5 property, 837 unit portfolio from long term owner. The Fort Wayne 5 Portfolio consists of 5 properties all with 95%+ occupancy, washer / dryers in all units and each offering value add potential. With 3 properties located adjacent to one another on the city’s southside, one property on the northside and one on the city’s west side, the portfolio offers diversity in terms of both location and unit type. The 3 southside properties were built in the early 70’s and provide well maintained workforce housing. Northcrest Gardens, built in 1964 is located on the northside is near the city’s finest retail and restaurants. Coventry Court West, the newest property in the portfolio, built in 1984 is adjacent to a high income area to the west of the property where household incomes are $75k annually.
Fort Wayne is the 2nd largest city in the state of Indiana and has an extremely stable multifamily market. Citywide average occupancy is 96.7% and has average 95% since 2015. Rents grew in Fort Wayne more than 5% and unemployment is at only 2.6%. Top three employers in Fort Wayne are two large healthcare networks, Parkview and Lutheran, followed by the Fort Wayne Community Schools.
The portfolio is being sold free and clear and offers a new owner immediate economy of scale, stable revenue day one with the opportunity further increase revenue through updates and upgrades..
290 Residences, Commercial Garage & Prime Retail
Cushman & Wakefield, as exclusive advisor, is pleased to present the extraordinary opportunity to acquire Park-Line Palm Beaches (the “Property”) – a trophy 26-story residential high-rise developed as a part of the evolutionary Brightline Trains and overlooking the new Rosemary Square, Clematis Street, the Atlantic Ocean, Downtown West Palm Beach, and Palm Beach’s newest multi-tenant office building, 360 Rosemary. This coveted and irreplaceable asset opened in December 2018 and is comprised of 290 luxury residences, 790 parking spaces, of which 442 are master-leased to Brightline, and 13,235 square feet of ground floor, high-value retail. The property has exceptional onsite and neighborhood amenities from a 12th floor recreation deck with Intracoastal and Atlantic Ocean views to immediate walkability to Clematis Street, Rosemary Square, the newest Class-A offices in West Palm Beach, and direct walk-on walk-off ability to Brightline.
Cushman & Wakefield, as exclusive advisor, is pleased to present Worthington Court, a 152-unit value-add garden community in New Port Richey, Florida. Completed in 1985, the property sits on over 13 acres, providing a low density setting of only 11 units per acre. Worthington Court's location within New Port Richey is ideally located and central to some of the largest metros in Florida including Orlando, Tampa and Pasco County. The property has frontage with over 42,000 VPD and minutes from major retail, Medical Center of Trinity, and the Veteran’s Expressway providing a 30-minute commute to Tampa.
The Cushman & Wakefield Florida Multifamily Advisory Group is pleased to present the 108-unit Tealwood Parke Apartments community located in Winter Park, Florida.
Cushman & Wakefield, as exclusive advisor, is pleased to present The Park at Via Roma, a 288-unit value-add multifamily community in Daytona Beach, Florida which has received over $2.8 million in recent capital improvements.
Mariners Village is a 244-unit apartment community located on Indianapolis’ suburban west side just outside of Indianapolis’ interstate loop. The property sits on a tranquil 60-acre springfed lake which offers scenic views from the property’s pool, deck, and from a number of units. Built in 1978, the community consists of fourteen residential buildings and a clubhouse, situated on almost 16 acres.
Mariners Village offers a variety of unit types, including 40 studio units in two floor plans (20 with popular lofts); 102 one-bedroom units (34 with lofts), and 102 two-bedroom units (34 with lofts). Unit features vary by type but include generous floor plans, private patios or balconies, kitchen pantries and large closets.
Community amenities include the clubhouse with community room, fitness center and saunas; the swimming pool with a large deck overlooking the lake, a jogging/walking path, dog park, picnic areas, laundry facilities on the first and second floor of every hall, and available covered parking.