WELL PERFORMING, BEST IN MARKET ASSET

New residents are drawn to the city’s best asset with condo-quality finishes and high-end living. The community amenities provide an upscale lifestyle feel and include a resort-style pool area with a grilling pavilion and TV lounge with fireplace.

LUXURIOUS SINGLE-FAMILY FEEL

The design and layout of Sycamore Terrace provide a quiet and secluded single-family feel with features like spacious units (1,236 Avg. SF) with open floor plans, 9’ to 10’+ ceilings, ample storage, and 50% of the units offer attached direct access garages.

RENT ELEVATION WITH LIGHT UPGRADES

Sycamore Terrace could be further elevated with minor enhancements to bring the property to the next level. This will assist in driving resident appeal and increasing rental rates.

CLOSE TO AMPLE EMPLOYMENT & AMENITIES

The city’s newest major amenity—Queen of Terre Haute Casino, (500 jobs coming late 2023) is less than one mile away. Sycamore Terrace also benefits from ample adjacent retail/dining, and quick access to I-70, SR-46, diverse employment, Terre Haute Regional Airport, four colleges/universities, and downtown Terre Haute.

EXCEPTIONAL MARKET FUNDAMENTALS

The Terre Haute multifamily market shows strong rent growth at 8.7% year-over-year and an average market-wide occupancy of 97%. Additionally, there has been very limited new construction over the last five years with nothing currently in the pipeline.

CITY'S MOST AFFLUENT AREA

The property is situated in the city’s most affluent area. The average household income within one mile of Sycamore Terrace is over $101,000 with an average home value of $232,524.

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Sycamore Terrace
250 Units
100 Antioch Circle East
Terre Haute, IN  47803
Type:  Multifamily
Closed: 12/6/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Banks at Bridgewater, a newly constructed 252-unit Garden multifamily property, and Stepping Stone at Bridgewater, a 44-unit Built-to-Rent duplex community in Myrtle Beach, SC. Strategically located in one of the nation’s fastest growing cities, with 22% population growth since 2015, the assets are situated in the primary residential and recreation node, with access to top retail, entertainment, healthcare, and job centres. Myrtle Beach’s rapidly expanding population highlights its diverse demographics supporting strong multifamily and Build-to-Rent fundamentals, resulting in unprecedented rent and supply growth in both asset classes. Historically high home ownership barriers to entry is pricing potential buyers out of the market, further increasing demand for apartments and Build-to-Rent communities. Completed in 2020, Stepping Stone at Bridgewater offers spacious units, private driveways, attached garages, and features desirable modern finishes and neighborhood lifestyle. Adjacent, with expected final delivery by September, is The Banks at Bridgewater, presenting open floor plans with luxurious finishes and modern amenity package.
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The Banks & Stepping Stone at Bridgewater (2 properties, 296 units)
Stepping Stone at Bridgewater
44 Units
943 Lilyturf Circle
Little River, SC  29566
Closed: 12/2/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Banks at Bridgewater, a newly constructed 252-unit Garden multifamily property, and Stepping Stone at Bridgewater, a 44-unit Built-to-Rent duplex community in Myrtle Beach, SC. Strategically located in one of the nation’s fastest growing cities, with 22% population growth since 2015, the assets are situated in the primary residential and recreation node, with access to top retail, entertainment, healthcare, and job centres. Myrtle Beach’s rapidly expanding population highlights its diverse demographics supporting strong multifamily and Build-to-Rent fundamentals, resulting in unprecedented rent and supply growth in both asset classes. Historically high home ownership barriers to entry is pricing potential buyers out of the market, further increasing demand for apartments and Build-to-Rent communities. Completed in 2020, Stepping Stone at Bridgewater offers spacious units, private driveways, attached garages, and features desirable modern finishes and neighborhood lifestyle. Adjacent, with expected final delivery by September, is The Banks at Bridgewater, presenting open floor plans with luxurious finishes and modern amenity package.
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The Banks & Stepping Stone at Bridgewater (2 properties, 296 units)
The Banks at Bridgewater
252 Units
719 Lantern Walk Drive
Little River, SC  29566
Type:  Multifamily
Closed: 12/2/2022
The Cushman & Wakefield Student Housing Capital Markets Team, in conjunction with the Florida Multifamily Team, is pleased to present the exclusive listing of OnShore, a student housing community located in Daytona Beach, Florida. Built in 2020, the property is the newest asset in the market totaling 210 units and 636 beds and offers market-leading luxury amenities to residents.
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OnShore Daytona
210 Units | 636 Beds
1100 Halifax Medical Center Dr.
Daytona Beach, FL  32114
Closed: 12/1/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is excited to present the exclusive listing of the The Enzo at Ariston, a 265-unit newly built institutional multifamily asset in Atlanta’s rapidly growing I-85 North Corridor. The property is strategically positioned in one of Atlanta’s strongest suburban markets and will directly benefit from Gwinnett County’s attractive supply/demand dynamics. This Core asset features immediate walkability to 2M+ SF of high-quality retail and dining/entertainment options as well as has top-tier access to Atlanta’s sprawling I-85 North jobs corridor. The property is primed for substantial rent growth, as Gwinnett County has historically demonstrated impressive absorption with limited future supply. Furthermore, The Enzo at Ariston has experienced robust leasing velocity, netting an average of 27 leases per month since May 2022.
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The Enzo at Ariston
265 Units
3025 Woodward Crossing Blvd.
Buford, GA  30519
Type:  Multifamily
Closed: 12/1/2022

Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present the exclusive listing of 517 S. Broadway, a residential development opportunity in the iconic Baltimore City Neighborhood of Fells Point. The Property is zoned both residential and commercial, boding well for multifamily or mixed-use contruction.

Potential developers are able to acquire land at an attractive cost basis, with approved plans. The Property is in close proximity to The Sagamore Pendry, and recently redeveloped Broadway Market, with ease of access to Thames Street nightlife attractions.

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517 S. Broadway
   
517 S. Broadway
Baltimore, MD  21231
Type:  Land
Closed: 11/30/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Axiom Apartments, a 202-unit apartment community situated in proximity to the 78-acre mixed-use Eastland Mall redevelopment anchored by the future practice facilities of Charlotte’s new Major League Soccer team. Convenient location to the desirable thoroughfare of East Independence provides access to ~250K jobs within a 15-minute drive, as well as the most popular entertainment hubs throughout the city. Strong demographic trends show an 8% increase to household income over the next 5 years and a steady long-term unemployment rate in the immediate 1-mile radius. Built in 1987, Axiom represents an outstanding opportunity to realize up to $130 rental premiums that nearby competitive properties are currently achieving in the rapidly transforming East Charlotte submarket.
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Axiom
202 Units
5625 Keyway Boulevard
Charlotte, NC  28215
Type:  Multifamily
Closed: 11/29/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is excited to present the exclusive listing of Flats at Perimeter Place, a prominent 323-unit midrise apartment community located in the heart of Atlanta’s dynamic Central Perimeter (135K+ jobs) district. Strategically positioned in Dunwoody’s vibrant Perimeter Place office/retail center, residents truly enjoy a live/work environment. Central Perimeter is the preeminent Sunbelt CBD, long established as a Fortune 500 stronghold and thriving job enclave anchored by global corporations like State Farm and Insight Global, as well as Pill Hill (20K+ healthcare jobs). The district’s magnetic appeal and energetic growth continues, as evidenced by the new $2B High Street development, which is a 10-block, multi-phase that will bridge the adjoining cities of Dunwoody and Sandy Springs with new Class A office and curated retail intertwined with bicycle-friendly streets and expansive public areas. Flats at Perimeter Place has demonstrated impressive lease trade-outs, averaging an 18.4% increase on new leases since June 2022. Current ownership has substantially renovated ~50% of the units while also injecting nearly $1M into the amenities and common areas, presenting an exceptional opportunity to revamp the remaining units and capitalize on the proven premiums.
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Flats at Perimeter Place
323 Units
60 Perimeter Center Pl
Dunwoody, GA  30346
Type:  Multifamily
Closed: 11/29/2022
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Evansville 3 Portfolio
638 Units
Evansville, IN
Type:  Multifamily
Closed: 11/28/2022

5.7% Cap - 2000 Built Property - $105K/Unit

Mill Pond offers the rare opportunity to purchase a 2000s built well maintained asset with a 5.7% going-in cap rate and at a low $105K/unit basis with upside potential.

Proven Rent Premiums

A new owner has the opportunity to continue to upgrade units and add and enhance the amenity set. Proven rent premiums for upgraded units are up to $385.

City's Highest Income Area

The northeast side of Muncie is the highest-end area of the city with average household incomes of $74,000+ . The location offers nearly instant access to and viability on McGalliard Rd, the city's main commercial corridor.

$1.5M Capital Infusion Completed

A $1.5M+ capital infusion included extensive interior renovations with all new luxury-level finishes, new kitchens and baths, and new LVP flooring in 14 units. Other improvements included 100% roof replacement, hallways updates and more.

Meds and Eds

Muncie is best known for its medical and educational institutions. Ball State University boasts 22,000 students and is the state's most prestigious school for education and architecture. Ball Memorial Hospital is a teaching hospital and the city's only hospital.

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Mill Pond
120 Units
5420 W. Keller Road
Muncie, IN  47304
Closed: 11/22/2022
1 WALKABLE URBAN LOCATION The Ellsworth is ideally located in connected and vibrant Downtown Lafayette and West Lafayette. This irreplaceable location offers walkable access to retail, dining, parks, trails and entertainment. 2 HIGH-END FINISHES AND FEATURES The Ellsworth brings the best of luxury to downtown dwellers with high-end finishes from corner to corner and an open floorplan living area. The elevated amenity set offers residents the comfort and convenience they demand. 3 OPPORTUNITY ZONE BENEFITS Closing acquisition of this asset before the certificate of occupancy (estimated Aug 2022) allows the buyer to step into the developer position and reap the benefits of the opportunity zone 4 GROWING PURDUE Since 2014, Purdue’s annual applications to the university are up 48%. Purdue now ranks as one of the nation’s top U.S. public institutions as well as one of its most innovative. 5 MULTIFACETED GREATER LAFAYETTE The Greater Lafayette Area is continuing incredible growth, innovation and expansion. With new developments in both education and industry, This area continues to be the top place to live work and play. 6 ALL CASH OR ASSUME EXISTING DEBT The Ellsworth can be purchased on an all cash basis or through assumption of the existing $13M fixed rate loan with a 3.87% interest rate.
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The Ellsworth
99 Units
437 South 5th Street
Lafayette, IN  47901
Type:  Multifamily
Closed: 11/22/2022

Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present the exclusive listing of The Lofts @ 1521, located in the historic Baltimore City Neighborhood of Bolton Hill. The Property is well suited for a value-add business plan, while preserving the Property’s historic features. The Lofts @ 1521 contains 5 residential units and parking in the rear of the Property.

Investors are afforded a compelling opportunity to acquire an apartment building where further value can be created through the cosmetic renovation of existing kitchens and bathrooms, adding modern tasteful finishes, and achieving an attractive ROI. Income can also be bolstered through streamlining management expenses and increasing operational efficiency.

The Property is in close proximity to Baltimore’s Penn Station which is set to undergo a $90 Million Renovation later this year. The Master Plan will include up to 1.6 Million Square Feet of hotel, office, retail and residential space. Residents are able to commute door to door from their residence to Downtown Washington D.C. in less than 70 minutes.

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The Lofts @1521
5 Units
1521 Park Avenue
Baltimore, MD  21217
Closed: 11/17/2022
Cushman & Wakefield, as exclusive marketing advisor, is pleased to present The Boutique, a fully renovated 43-unit community located at 8000 NE Bayshore Court in Miami, Florida.

The property is ideally located within the Shorecrest neighborhood of Miami which provides easy access to Biscayne Blvd, the Mimo District and Miami Beach. The property was fully renovated in 2007 and has been kept in pristine condition ever since. The units offer outstanding finishes and are available at significantly below replacement cost. The Boutique is ideally located one block from the Intracoastal and offers an investor significant rental upside potential. With recent new leases signed at $1,350 for studios, there is over $90k in income upside.

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The Boutique
43 Units
8000 NE Bayshore Court
Miami, FL  33138
Type:  Multifamily
Closed: 11/16/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 166-unit Lory of Hillsborough apartment community located in Hillsborough, NC. This asset is situated in a strategically located community of Hillsborough, NC. It is optimally located in a high-income market (average HHI over $100K) with growing home values (averaging $425K) and increasing rental rates in the Triangle MSA. Unmatched access to major thoroughfares I-85 and I-40 afford the submarket incredible connectivity to major employment hubs of Raleigh-Durham Research Triangle Park, Duke University, and UNC Chapel Hill. With the Hillsborough/Chapel Hill submarket experiencing an effective rental growth rate of 21.1% in Q1-22, combined with high barriers to entry, the asset is extremely well positioned to continue organic income growth and excellent value-add potential. Built in 1974, Lory of Hillsborough allows investors to acquire a well-maintained asset and inherit a proven, multifaceted value-add program to achieve a 19% boost to NOI.
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The Lory of Hillsborough
166 Units
600 South Churton Street
Hillsborough, NC  27278
Type:  Multifamily
Closed: 11/16/2022
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Astoria
252 Units
7070 Grelot Road
Mobile, AL  36695
Type:  Multifamily
Closed: 11/15/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 130-unit Monarch Villas apartment community located in Sandy Springs, Fulton County, Georgia. This asset is situated in the desirable, trending, and highly accessible northern-perimeter area of suburban Atlanta. Just off Roswell Road with easy access to I-285 and GA-400, the property provides seamless connectivity to Atlanta’s employment megacenters. Monarch Villas was built in 1969, and has been maintained with 48% of its units classic, making it a rare investment find, perfectly primed for immediate and long-term returns.
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Monarch Villas
130 Units
66 Northwood Drive
Sandy Springs, GA  30342
Type:  Multifamily
Closed: 11/7/2022
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The Glens
72 Units
1800 Crabtree Road
Tuscaloosa, AL  35405
Closed: 11/1/2022
Cushman & Wakefield is pleased to present the opportunity to acquire Lake Cecile Townhomes, a 72- unit, concrete block townhome rent community located in Kissimmee, Florida (the “Property”). The Property was built between 2009 and 2014 and consists of nine buildings with oversized townhome layouts averaging 1,643 square feet totaling 36 three-bedroom and 36 four-bedroom units. The Property’s amenity set includes resort-style pool, clubhouse/leasing office, and basketball court, which is a rarity for boutique townhouse communities. Lake Cecile is available below replacement cost. The property offers immediate upside through eliminating 1) loss to lease and 2) value add improvements; Loss to Lease • In place rents are under market. The property has consistently operated at 100% occupancy due to the low rents. In place effective rents are $1,446 or $0.88 per square foot. Market rents are $1,800 for three bedroom and $2,000 for four bedroom townhomes with a blending market rent of $1,900 or $1.16 per square foot. There is over $454 per unit per month or $390k per year in loss-to-lease upside by moving rents to current market levels. Value Add • The property provides excellent value-add upside opportunity. Implementing a value-add program on the 72 units at an estimated cost of $10,000 per unit can provide $200 per unit in additional rental upside totaling over $170,000 in income upside.
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Lake Cecile TownHomes
72 Units
4750 Everglades Circle
Kissimmee, FL  34746
Closed: 10/31/2022

UPGRADE POTENTIAL

A new owner has the opportunity to increase revenue through upgrading unit interiors with anticipated rent premiums of $165-$180.

VIBRANT Elkhart MARKET

Elkhart has experienced limited apartment development in the past 3 decades, with vacancy holding all-time lows, most communities have wait lists and rents showing consistent growth over time.

SEAMLESS EMPLOYER CONNECTIVITY

Centrally located to Elkhart / St. Joe County’s largest job centers, Woodwind and Hunters Pond provide sought-after convenience to employers in Elkhart’s main business corridor as well as a short commute to Mishawaka / South Bend.

LOW DENSITY SINGLE-FAMILY HOME FEEL

Hunters Pond offers residents a single-family neighborhood vibe. All units have in-direct access garage parking, water views and a beautiful mature wooded setting.

DESIRABLE UNIT FEATURES & AMENITIES

All units include washer and dryer machines and black appliances at both properties. Residents enjoy access to an on-site commercial gym at Woodwind, as well as a swimming pool, playground, and clubhouse.

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Woodwind & Hunter's Pond
171 Units
1100 Clarinet Blvd West
Elkhart, IN  46516
Closed: 10/31/2022

Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire Inspire Coastal Grand, a 194-unit garden-style active adult community located in Myrtle Beach, South Carolina. Opened in April 2021, Inspire Coastal Grand offers quality finishes, lifestyle amenities and an exceptional location with close access to retail, major highways and the the many locations that make Myrtle Beach renowned. The luxurious and impressive amenities include yoga & spin studio, resort-style pool and sundeck, pickle ball court, bocci ball court, and recurring lifestyle events for residents to enjoy. The top tier finish quality, amenities and location of Inspire Coastal Grand make it a premier asset at the forefront of the active adult market.

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Inspire Coastal Grand
194 Units
1749 Sea Pines Blvd
Myrtle Beach, SC  29577
Closed: 10/28/2022
The Cushman & Wakefield Student Housing Capital Markets Team, in conjunction with the Florida Multifamily Team, is pleased to present the exclusive listing of Vertex Apartments, a student housing community located under a half of a mile to Florida State University. The property totals 138 units and 310 beds, built in 1968 with property-wide renovations throughout 2021 and 2022. This offering provides investors the opportunity to purchase a student housing asset in a desirable pedestrian location close to campus with significant upside yielding immediate returns.
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Vertex
138 Units | 310 Beds
1832-1834 Jackson Bluff Rd
Tallahassee, FL  32304
Closed: 10/28/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 312-unit Seaside Grove at Carolina Forest and 216-unit Providence Park, which can be acquired together or individually. The properties are situated in two of South Carolina’s most admired cities, Myrtle Beach and Columbia. As the fastest growing city in the U.S., Myrtle Beach leads the surge of southern coastal migration posting 51% population growth since 2000, outpacing all other coastal markets. The capital city of Columbia also displays persistent growth through its primary employment sectors of medical, education, and government, with rents projected to rise 21% through 2027. Located in the Carolina Forest and East Columbia communities, residents at the properties enjoy direct access to top-tier retail, premier entertainment options, and seamless connectivity to major economic drivers. The immediate areas surrounding the properties boast high average HHIs ($75k+), dominant white-collar populations (65%), and impressive rent growth (21% avg.), representing the ideal time to own in these thriving pockets of South Carolina. New ownership can benefit from the tremendous upside of the portfolio advantage and implement a Class-A value-add campaign to push rents $430+ in three years, yielding additional revenue for years to come.
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Seaside Grove & Providence Park (2 properties, 528 units)
Providence Park
216 Units
261 Business Park Boulevard
Columbia, SC  29203
Type:  Multifamily
Closed: 10/27/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 280-unit The Aurora @ Twenty Seven Hundred apartment community located in Lilburn, Gwinnett County, Georgia. This asset is situated in the one of the most high-growth counties in Georgia known for its abundance of retail, dining, entertainment options, and direct access to Atlanta’s largest employers through the I-85 corridor. Built in 1985, The Aurora @ Twenty Seven Hundred offers an outstanding opportunity to invest in an asset on the cusp of repositioning with proven value-add upside.
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The Aurora @ Twenty Seven Hundred
280 Units
2700 Park Crossing Way NW
Lilburn, GA  30047
Type:  Multifamily
Closed: 10/26/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 400-unit Avana on Breckinridge apartment community located in Duluth, Gwinnett County, Georgia. This asset sits within one of the top-performing multifamily submarkets in the nation, which has demonstrated excellent rent and occupancy trends for more than two decades. Built in 1986, Avana on Breckinridge offers an outstanding opportunity to invest in a proven value-add asset with significant upside for the next investor.
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Avana on Breckinridge
400 Units
3450 Breckinridge Boulevard
Duluth, GA  30096
Type:  Multifamily
Closed: 10/21/2022