The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 140-unit Orlando Sky apartment community located in Orlando, Florida. The asset is situated in the North West Orlando submarket currently experiencing 6.9% YoY rent growth. Built in 1985 & 1986, Orlando Sky offers an outstanding value-add opportunity that would result in the ability to raise effective rents $190 and earn a 19% return on investment after implementation of the proposed value-add plan.
The Cushman & Wakefield Fogler/Nicoluzakis Multifamily Capital Markets Team is pleased to offer CENTERRA, a renovated, 202-unit, garden-style apartment community located near Frank Lloyd Wright Boulevard and Shea Boulevard in North Scottsdale, Arizona, one of the Phoenix area's most exclusive neighborhoods.
Centerra is a gardden-style, two and three story community featuring a mix of one and two bedroom/two bath units with washers and dryers. All 202 units have been completely upgraded with new Whirlpool stainless steel appliances, new cabinets (in kitchens and bathrooms), new flooring, granite countertops (in kitchens) along with new light and plumbing fixtures.
In addition to the unit interiors, the exterior of the property and amenities were updated. Exterior improvements included the addition of a fitness center, updates to the leasing/business center, new roofs and a complete repaint of the community. While Centerra has been updated, there is still value-add potential remaining through targeted upgrades.
Cushman & Wakefield is pleased to present a unique opportunity to purchase a ±2.71 acre multifamily development site in Phoenix's rapidly transforming Central Corridor. The opportunity consists of ±117,907 square feet of developable land north of the northwest corner of Osborn Road and 4th Avenue.
This rare site is located near the Valley Metro Light Rail, with a station within walking distance of the property at Central Avenue and Osborn Road. Phoenix's urban revival has transformed the Central Corridor into a 24-hour live-work-play environment with new residential and trendy restaurants, coffee houses and bars. The area has been influenced by anchor cultural, educational, research, sports and healthcare institutions, including Arizona State University's downtown campus and Phoenix Biomedical Campus. The result is an unprecedented demand for urban living solutions within the Central Corridor.
The acquisition of The E’laan provides an investor the opportunity to purchase a brand new, Class A apartment property in the hottest neighborhood (Market East) in booming downtown Indianapolis. Also, the investment offers the opportunity to acquire fully entitled land to build a second phase to the E’laan with up to 70 more units.
The E’laan is a brand-new (first occupancy May 2018) luxury community that appeals to the professionals looking for a high-end urban living experience. The property has a boutique hotel feel with a first-floor lobby that offers seating, WIFI and a Starbucks coffee machine. The 5-story building with a roof-top sundeck has great views of downtown Indianapolis. The roof-top deck offers seating for 20 surrounded by a beautiful green roof. The one and two-bedroom units are exceptionally large for an urban community offering an average size of over 1,100 square feet. There are four floors of apartments built on a concrete podium first floor parking structure. There are 14 garage parking spaces and 16 surface spaces.
Cushman & Wakefield, as exclusive advisor, is pleased to present the investment opportunity to acquire Ventura Pointe – a premier 206-unit apartment home community located in Pembroke Pines, Florida. The property is comprised of four- and five-story elevatored garden buildings with an average unit size of 958 square feet.
Ventura Pointe is centrally located in Pembroke Pines and provides convenient access to the employment markets of Miramar, Plantation, Sunrise and the South Florida Education Corridor. The property is also adjacent to the 301-bed Memorial Hospital Pembroke. Located on University Drive with drive-by exposure to 53,000 cars, residents have excellent access to retail and entertainment along the corridor with a new Lucky’s Market opening less than one mile from the property. Ventura Pointe opened in April 2018 and is finalizing its lease-up.
Cityscape is a 163-unit apartment community located in the heart of Fort Wayne’s vibrant downtown. Completed in 2017, the community is the largest new urban multifamily development in downtown Fort Wayne.
Property amenities include a large cardio-fitness center, an expansive raised courtyard in the interior of the structure with a unique aqua bench feature (wading pool) and thousands of square feet of open green space. Grilling stations and an outdoor lounge space with firepit are available for residents throughout the year in this one-of-a-kind space at Cityscape Flats. The community also has a penthouse-level club room on the top floor with access to a large deck overlooking Parkview Field and entertainment venue which hosts the minor league baseball team the TinCaps.
The community offers an attractive mix of 5 Studio units, 116 One Bedroom Flats (in three floor plans) and 42 Two Bedroom Flats (in four floor plans). All units have washer/dryer hookips, and kitchens feature granite countertops with brushed nickel accents throughout, frost-free refrigerators, dishwashers and garbage disposals.
The community is in an excellent location conveniently located in the Fort Wayne downtown CBD, with many major employers and two major universities all within minutes of the property.
Courtyard Apartments consists of 129 units located in Anderson, IN and was built in 1956. The property is currently owned by a private capital group out of Chicago. The current owner has infused more than $300,000 in capital improvements including various roof and window replacements and reviving down units.. With roughly 15 units currently offline, there is ample opportunity to continue improving the property and growing occupancy. Courtyard Apartments is located near Anderson’s most sought after west side neighborhoods. The near west side of Anderson is scheduled to benefit from multiple economic development initiatives, primarily centered around revitalization of the adjacent retail properties.