The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the Southeast 979 Portfolio which includes five properties located in high-growth submarkets throughout the Southeast. The 979-unit portfolio immediately establishes or supplements a strong investment platform in desirable markets. With fresh capital infusions by current ownership and trending collections, these assets are primed for value-add initiatives and long-term cash returns.
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Southeast 979 Portfolio (5 properties, 979 units)
Park at Summerhill
223 Units
4515 Bonnell Drive
Huntsville, AL  35816
Type: Conventional
Closed: 4/6/2021

The Cushman & Wakefield Florida Multifamily Advisory Group is pleased to present the 288-unit value-add offering, Canopy Creek, located in Jacksonvile, Florida.

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Canopy Creek
288 Units
11291 Harts Road
Jacksonville, FL  32218
Type: Conventional
Closed: 3/31/2021

The Crossroads Apartments is a well maintained 90s vintage asset at the cusp of the high-end Summerlin submarket, nearby the College of Southern Nevada and the US-95 freeway . The asset itself has a total of 32 units (883 SF average), covered & uncovered parking and a current strong pride of ownership. Crossroads is poised to benefit from its unique location, high occupancy rate, and its strong current collection trends.

With in-place rents currently averaging $853 per month, or $0.97 per SF, Crossroads offers investors the unique opportunity to acquire a 90s vintage asset with under market rents. This is especially attractive with the location of this type of asset, as Crossroads is located near the heart of West Las Vegas in a highly desirable submarket.

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Crossroads
32 Units
1110 Redwood St
Las Vegas, NV  89146
Type: Conventional
Closed: 3/31/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is excited to present the exclusive listing of the 353-unit The Ridge at Hamilton Crossing apartments in Maryville, TN, submarket of the Knoxville MSA. Located adjacent to one of Maryville’s largest retail districts, Hamilton Crossing, The Ridge at Hamilton Crossing’s central location offers unmatched access to both premier retail and local jobs. As the submarket’s newest and only true Class A asset, The Ridge at Hamilton Crossing is poised to benefit from Knoxville’s largest recent employment announcements, its highly underserved and appealing submarket fundamentals, and an opportunity to acquire one of the newest stabilized assets in the area.
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The Ridge at Hamilton Crossing
353 Units
100 Hamilton Drive
Maryville, TN  37801
Type: Conventional
Closed: 3/31/2021
Sold
Haven
220 Units
2600 Waterford Place
Hoover, AL  35244
Type: Conventional
Closed: 3/30/2021
Sold
High River
176 Units
1900 Rice Mine Road
Tuscaloosa, AL  35406
Type: Conventional
Closed: 3/26/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the Southeast 979 Portfolio which includes five properties located in high-growth submarkets throughout the Southeast. The 979-unit portfolio immediately establishes or supplements a strong investment platform in desirable markets. With fresh capital infusions by current ownership and trending collections, these assets are primed for value-add initiatives and long-term cash returns.
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Southeast 979 Portfolio (5 properties, 979 units)
Park at Ashburn
184 Units
671 Westgate Pkwy
Dothan, AL  36303
Type: Conventional
Closed: 3/24/2021
Avalon is a garden-style community with value-add potential located in the desireable Biltmore/Camelback Corridor area of Phoenix. Amenities include a resort-style pool, fire pit, barbecue grills, fitness center, laundry facilities and a dog park.
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Avalon
117 Units
3851 North 28th Street
Phoenix, AZ  85016
Closed: 3/22/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Arlington – 97 units located in Jackson, Hinds County, MS. This well demanded asset sits approximately 8 miles north of the capital city of Downtown Jackson. Maintaining excellent visibility, signage and direct frontage off Ridgewood Rd, The Arlington offers residents quick access to all of Jackson’s primary economic drivers. The asset arrives to market highly occupied with strong cash flows, and double digit yields in year 1. Originally constructed in 1972, The Arlington presents the opportunity to acquire an upward-trending asset with strong cash flows in a high visibility location.
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The Arlington
97 Units
5845 Ridgewood Road
Jackson, MS  39211
Type: Conventional
Closed: 3/15/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 84-unit Park South duplex community located in Augusta, Richmond County, Georgia. This asset is situated in south Augusta, close to major retail and restaurant corridors as well as immediate access, via I-520, to over 50K Downtown employment opportunities and 25K Fort Gordon jobs. Built in 1950, Park South has received over $1.35M in capex injected into the property including roof repair/replacement, landscaping, leasing office remodel and interior upgrades. The asset provides an outstanding opportunity to invest in a proven value-add asset, as the property is currently achieving rent premiums of $125 on renovated units.
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Park South
84 Units
2907 Jackson Street
Augusta, GA  30906
Type: Conventional
Closed: 3/12/2021

The Cushman & Wakefield Florida Multifamily Advisory Group is pleased to present the 92-unit value-add offering, The Palms at Cortez, located in Bradenton, Florida.

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The Palms at Cortez
92 Units
3810 5th Street E
Bradenton, FL  34028
Closed: 3/12/2021

The acquisition of Cross Creek provides investors with the rare opportunity to acquire 1990 built property with 6% cap rate year one WITHOUT additional renovations. Offered free and clear and primed for the best new debt terms available such as interest only and high leverage which will allows for an immediate double-digit yield.

The current owner skillfully renovated 100% of the units in 2016 with installation of new kitchen and bath cabinets, countertops, appliances, lighting and plumbing fixtures. The clubhouse was also upgraded in 2016 and provides a high end, open and modern atmosphere ideal for leasing.

Cross Creek arrives to market with over 96% trailing 3 months average occupancy and T-12 occupancy of 94%. In addition to strong occupancy, the property has achieved 4.6% organic rental income growth T-3 vs T-12. Recent leases prove the ability to quickly increase revenue easily by simply burning off the $61k annualized Loss to Lease.

Cross Creek is offered free and clear and can be purchased individually or as part of a 914 unit, 3 property portfolio that includes Beechmill (256 units) and Woodbridge – Ft Wayne (450 units). A portfolio purchase offers economies of scale.

Download an Executive Summary below. Full Offering Memorandum is coming soon.

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Cross Creek
208 Units
5756 Cross Creek Drive
Indianapolis, IN  46254
Closed: 3/11/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Pines of Wilmington, a 233-unit apartment community in Wilmington, NC. Bolstered by recent capital improvements and robust operational momentum, The Pines of Wilmington offers investors a potential 38% boost to annual NOI through completion of an underway, proven value-add program. The asset is firmly cemented in a strong apartment market that is primed to benefit from development expansion moving southward. Furthermore, The Pines of Wilmington is near the principal economic drivers and premier retail nodes of Wilmington – an MSA characterized by rapid population growth, an expanding employment nucleus, and attractive demographics.
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The Pines of Wilmington
233 Units
1002 Mayflower Drive
Wilmington, NC  28412
Type: Conventional
Closed: 3/11/2021
Sold
John D Minnis Building
6 Units
11 E High St.
Oxford, OH  45056
Type: Student
Closed: 3/5/2021

The Cushman & Wakefield Florida Multifamily Advisory Group is pleased to present the 108-unit multifamily value-add opportunity, The Studios at Uptown, located in Altamonte Springs, Florida. .

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The Studios at Uptown
108 Units
245 Loraine Drive
Altamonte Springs, FL  32714
Type: Conventional
Closed: 3/5/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is excited to present the exclusive listing of Lullwater at Blair Stone, a 244-unit apartment community with top quality interior finishes and luxury amenities, strategically located in Tallahassee, Florida’s capital city. This asset is well positioned to benefit from the steadily growing employment base supported by acclaimed educational institutions, medical facilities, and a government presence. Located ten minutes southeast of Downtown, Lullwater at Blair Stone has quick access to the entire city, as well as being surrounded by a surplus of lifestyle amenities including diverse retail, numerous golf courses, and multiple recreational attractions. Furthermore, Lullwater at Blair Stone has proven out the ability to burn-off all concessions upon stabilization, providing the foundation for continued market rent growth as the asset has already demonstrated 2.5%+ growth since September.
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Lullwater at Blair Stone
244 Units
3501 N Blair Stone Road
Tallahassee, FL  32301
Type: Conventional
Closed: 3/4/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 236-unit Osprey Cove North apartment community located in Jacksonville, NC. The asset is strategically located two miles from Jacksonville’s 2nd largest employer, Air Station New River (18,100 jobs). The property has received a capital infusion of $1.17M over the past 3 years, prepping the community for a proven value-add initiative that could potentially boost the trailing 2-month NOI by 11%. With 28 new deliveries since 2014 and nearly zero deliveries projected through 2023, the lack of a development pipeline will continue to drive rent increases as Jacksonville’s low-risk, stable economy.
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Osprey Cove North
236 Units
118 Broadhusrt Rd
Jacksonville, NC  28540
Type: Conventional
Closed: 3/4/2021
PORTFOLIO IS BEING OFFERED FOR SALE AS AN ENTIRE FIVE PROPERTY PACKAGE OR THE TWO TAMPA PROPERTIES SEPARATE FROM THE THREE ORLANDO PROPERTIES
Two of the Five Properties are Located in a Designated Opportunity Zone With Long-Term Hold Tax Benefits

The Cushman & Wakefield Florida Multifamily Group is pleased to present the exclusive listing of the Tampa & Orlando Value-Add Workforce Housing Portfolio located in Tampa and Orlando, Florida. This is an attractive critical mass offering of five partially-renovated workforce housing multifamily communities totaling 1,011 units in the high growth “I-4 Corridor” of Orlando and Tampa Bay with tangible upside. The opportunity is being offered on a market bid basis, free and clear of debt. Two of the five properties are located in a Designated Opportunity Zone with long-term hold tax benefits.

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Tampa & Orlando Value-Add Workforce Portfolio (5 properties, 1,011 units)
Addington Place
192 Units
4757 Silver Star Road
Orlando, FL  32808
Type: Conventional
Closed: 3/1/2021
PORTFOLIO IS BEING OFFERED FOR SALE AS AN ENTIRE FIVE PROPERTY PACKAGE OR THE TWO TAMPA PROPERTIES SEPARATE FROM THE THREE ORLANDO PROPERTIES
Two of the Five Properties are Located in a Designated Opportunity Zone With Long-Term Hold Tax Benefits

The Cushman & Wakefield Florida Multifamily Group is pleased to present the exclusive listing of the Tampa & Orlando Value-Add Workforce Housing Portfolio located in Tampa and Orlando, Florida. This is an attractive critical mass offering of five partially-renovated workforce housing multifamily communities totaling 1,011 units in the high growth “I-4 Corridor” of Orlando and Tampa Bay with tangible upside. The opportunity is being offered on a market bid basis, free and clear of debt. Two of the five properties are located in a Designated Opportunity Zone with long-term hold tax benefits.

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Tampa & Orlando Value-Add Workforce Portfolio (5 properties, 1,011 units)
Jasmine Terrace
319 Units
1250 Skipper Rd.
Tampa, FL  33613
Closed: 3/1/2021
PORTFOLIO IS BEING OFFERED FOR SALE AS AN ENTIRE FIVE PROPERTY PACKAGE OR THE TWO TAMPA PROPERTIES SEPARATE FROM THE THREE ORLANDO PROPERTIES
Two of the Five Properties are Located in a Designated Opportunity Zone With Long-Term Hold Tax Benefits

The Cushman & Wakefield Florida Multifamily Group is pleased to present the exclusive listing of the Tampa & Orlando Value-Add Workforce Housing Portfolio located in Tampa and Orlando, Florida. This is an attractive critical mass offering of five partially-renovated workforce housing multifamily communities totaling 1,011 units in the high growth “I-4 Corridor” of Orlando and Tampa Bay with tangible upside. The opportunity is being offered on a market bid basis, free and clear of debt. Two of the five properties are located in a Designated Opportunity Zone with long-term hold tax benefits.

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Tampa & Orlando Value-Add Workforce Portfolio (5 properties, 1,011 units)
Laurel Crossings
112 Units
13101 Aarans Pond Drive
Tampa, FL  33612
Closed: 3/1/2021
PORTFOLIO IS BEING OFFERED FOR SALE AS AN ENTIRE FIVE PROPERTY PACKAGE OR THE TWO TAMPA PROPERTIES SEPARATE FROM THE THREE ORLANDO PROPERTIES
Two of the Five Properties are Located in a Designated Opportunity Zone With Long-Term Hold Tax Benefits

The Cushman & Wakefield Florida Multifamily Group is pleased to present the exclusive listing of the Tampa & Orlando Value-Add Workforce Housing Portfolio located in Tampa and Orlando, Florida. This is an attractive critical mass offering of five partially-renovated workforce housing multifamily communities totaling 1,011 units in the high growth “I-4 Corridor” of Orlando and Tampa Bay with tangible upside. The opportunity is being offered on a market bid basis, free and clear of debt. Two of the five properties are located in a Designated Opportunity Zone with long-term hold tax benefits.

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Tampa & Orlando Value-Add Workforce Portfolio (5 properties, 1,011 units)
Oak Hill
200 Units
4500 Silver Star Road
Orlando, FL  32808
Closed: 3/1/2021
PORTFOLIO IS BEING OFFERED FOR SALE AS AN ENTIRE FIVE PROPERTY PACKAGE OR THE TWO TAMPA PROPERTIES SEPARATE FROM THE THREE ORLANDO PROPERTIES
Two of the Five Properties are Located in a Designated Opportunity Zone With Long-Term Hold Tax Benefits

The Cushman & Wakefield Florida Multifamily Group is pleased to present the exclusive listing of the Tampa & Orlando Value-Add Workforce Housing Portfolio located in Tampa and Orlando, Florida. This is an attractive critical mass offering of five partially-renovated workforce housing multifamily communities totaling 1,011 units in the high growth “I-4 Corridor” of Orlando and Tampa Bay with tangible upside. The opportunity is being offered on a market bid basis, free and clear of debt. Two of the five properties are located in a Designated Opportunity Zone with long-term hold tax benefits.

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Tampa & Orlando Value-Add Workforce Portfolio (5 properties, 1,011 units)
Oakmont
188 Units
3024 S. Rio Grande Avenue
Orlando, FL  32805
Closed: 3/1/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 8.83 acre Southpark Boulevard Land site located in Winston-Salem, NC. As part of a Master Planned Community called Heritage Park, the land is approved for 172 apartments, is mass graded, has utilities located on site, and is currently listed at $950,000. The property is located in South Winston-Salem, the submarket leader in annual rent growth and occupancy in 2019. The property is situated along the Peters Creek Parkway Growth Corridor, a targeted initiative recently approved by the City Council, that has already seen momentum build indicated by rising property values. This site offers investors a unique opportunity to invest in a growing Winston-Salem market which boasts low unemployment, trivial delivery pipeline, and a majority white-collar workforce.
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Southpark Boulevard Land
8.83 Acres
0 Grand Silo Way
Winston-Salem, NC  27127
Type: Land
Closed: 3/1/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 66-unit 2200 Midtown apartment community located in Greensboro, NC. This asset is firmly situated in a top performing submarket of the Triad with strong fundamentals and outstanding demographics, outpacing the broader metro on nearly all indicators. Built in 1965, 2200 Midtown offers a 77% completed value add program that is commanding solid premiums of over units leasing with standard features. As submarket household incomes approach $90K+ paired with a muted delivery pipeline, the market indicates support for higher-end finishes as Greensboro shifts its focus to target a white-collar workforce through educational attainment. Investors have the opportunity to increase annual income by $48K by pushing rents to achieve market supported premiums in a top Triad submarket for rent growth.
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2200 Midtown
66 Units
2200 Cornwallis Drive, West
Greensboro, NC  27408
Type: Conventional
Closed: 2/23/2021