The Cushman & Wakefield Southeast Multifamily Advisory Group and Larry G. Schedler Associates, Inc. are pleased to present the exclusive listing of the 52-unit Bonne Vie I apartment community located in Metairie, Jefferson Parish, LA. This asset is situated in the high barrier-to-entry Metairie submarket, characterized by limited new deliveries and strong organic rent growth. With such limitations on new multifamily due to the lack of developable sites, occupancy and rent have continued to increase, leading to a strong historical property performance. With demand for upgraded interiors in the submarket, Bonne Vie I is an excellent opportunity to acquire a true value-add investment.
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Bonne Vie I
52 Units
3105 Edenborn Avenue
Metairie, LA  70002
Closed: 10/14/2020
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of Inverness, a 208-unit apartment community located in Tuscaloosa, Alabama. This asset is situated in the growing Tuscaloosa submarket, which has attracted 2,700+ future jobs over the next 2 years and is grounded on two expanding pillars of The University of Alabama and the Mercedez-Benz plant. Inverness is arguably the most unique community in the area, the only property to offer home-like design and attached garages. Built in 1996, Inverness also boasts 54 renovated units ($75-$125 premiums) and the next investor can push this even further via targeted exterior enhancements. With a proven value add strategy and the most unique physical plant in "T-Town", Inverness has the potential to become a top-of-market asset.
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Inverness
208 Units
8816 Old Greensboro Road
Tuscaloosa, AL  35405
Closed: 10/14/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Residences at Diamond Ridge, a 336-unit apartment community located in Winston-Salem, North Carolina inside of the thriving Piedmont Triangle market, which ranked 7th in the nation for non-major market rent growth in the first quarter of 2020. The property’s strategic location within 10 minutes of the Triad’s most prominent employment and entertainment hubs will benefit from an economic evolution towards innovative fields of technology and medicine which is spurring the nationally recognized growth. Constructed in two phases (1962/1972), The Residences at Diamond Ridge represents a unique, large-scale investment opportunity, which has received over $1.2M in capital investment over the past 18 months and is now primed to realize a 71% increase to NOI through a targeted interior value-add program.
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The Residences at Diamond Ridge
336 Units
730 Anson Street
Winston-Salem, NC  27103
Type: Conventional
Closed: 10/9/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the Legacy 384 portfolio, consisting of 384 units across two well-located assets in Montgomery, AL. Benefiting from a strong manufacturing and government-centric economy, the Montgomery metro has garnered significant capital investments, highlighted by Hyundai’s announcement to invest $410M and create 1,200 additional jobs to build a new light truck model in Montgomery. With proven rent premiums ($100) on renovated units, targeted capital can round out the existing value add program and improve the physical plants at each property to boost exit value. Built in 1977 & 1996, the Legacy 384 portfolio offers an outstanding opportunity to invest in two well-located assets with major value add potential. The assets can be purchased as a portfolio, or individually.
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Legacy 384 Portfolio (2 properties, 384 units)
Legacy at Festival
184 Units
500 Festival Place
Montgomery, AL  36117
Type: Conventional
Closed: 10/7/2020
Cushman & Wakefield, as exclusive marketing advisor, is pleased to present the opportunity to acquire the Aliro Apartments (the “Property”) - an 869-unit value-add multifamily development located in North Miami, Florida. The Property is located along Biscayne Boulevard across from the $4 billion Sole Mia mixed-use development project. The Property’s central, east of I-95, Miami-Dade location is at the center of regional long-term growth. Aliro’s location is highly desirable to prospective residents due to its connectivity to major employment centers, education and medical hubs, and points of interest including numerous parks, malls, and beaches of the Atlantic Ocean.

Aliro offers a tremendous value-add investment opportunity because of its economies of scale, proven performance, and upside. Ownership has spent millions in recent capital improvements and has completed 338 in-unit renovations leaving 531 classic units available to be renovated by future ownership.

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Aliro
869 Units
14000 Biscayne Boulevard
North Miami Beach, FL  33181
Type: Conventional
Closed: 10/1/2020

Harrison Point is an exceptionally well-maintained workforce housing community located on Indianapolis’ suburban east side. While originally constructed in the late ’60s, the property has been significantly renovated and has the look and feel of a much newer community. New exterior vinyl siding, fresh exterior painting, all new roofs and wood decks, updated signage and newer windows provide excellent curb appeal.

The community is situated on 25+ acres with 8 two-story buildings and offers an attractive mix of studios, 1, 2 and 3-bedroom units. All units offer private entries in a popular courtyard style layout. Harrison Point offers its resident a full amenity site with onsite laundry facilities (machines owned by property), fitness center, sparkling pool, soccer field and newly built pavilions.

Harrison Point is located just east of I-465 on Post Road, a major commercial thoroughfare, with convenient access to I-70 and I-69. Numerous large employment centers are just minutes from the property. Residents enjoy a quick commute to downtown Indianapolis and to the popular northside of Indianapolis.

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Harrison Point
342 Units
9093 Bourbon Street
Indianapolis, IN  46236
Closed: 10/1/2020

The Cushman & Wakefield Multifamily Advisory group is pleased to present this confidential memorandum to purchase The Villas at 6300. Located in a gentrifying area of Las Vegas, adjacent to Summerlin, Villas at 6300 offers investors with the unique opportunity to purchase a 1997 vintage asset in a submarket that is currently experiencing an influx of capital, with comps undergoing $10K to $15K per unit renovation programs, while purchasing at a basis below replacement cost.

Ownership renovated 45 of the units in 2017 & 2018, proving out rent bumps of $119 per month on average. This renovation program includes flooring, paint, baseboards, hardware, and appliances. More recently, ownership has completed a full renovation on unit 1005, proving a rent premium of $216 over market and $256 over the previous resident. New ownership has the opportunity to renovate the additional 84% of units.

Tours are available upon request. Please contact Taylor Sims with any inquiries.

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Villas at 6300
280 Units
6300 W Lake Mead Boulevard
Las Vegas, NV  89108
Closed: 10/1/2020
Cushman & Wakefield is pleased to exclusively present the opportunity to acquire 26970 Call Avenue ("26970 Call" or the "Property"), a ±2.63 acre single family development site located in Hayward, California. Zoned for single family residences and currently comprised of 4 lots with 2 existing structures, the Property has the potential to be subdivided to approximately 10 residential lots. The existing lots are offered individually or as a bulk purchase, and the Seller is price-flexible with the appropriate bundling of lots. Within 15 minutes from three BART stations and Interstates 580 & 880, future residents of 26970 Call will enjoy widespread access to high paying jobs in San Francisco, Oakland, the Peninsula, Silicon Valley and the Tri-Valley.

Hayward’s central San Francisco Bay Area location and relative affordability are the major drivers of the city’s 40% increase of median home prices since 2015. Hayward’s increasing desirability among affluent Bay Area employees will continue to contribute to the city’s rising home prices and incomes. Median household income is projected to grow 14% to $100,271 annually by 2025, while the number of households earning more $150,000 annually is projected to grow 22% over that same time period. Known for its instant access to regional parks, along with peace and quiet, high income homeowners will continue to be attracted to the Hayward Highland neighborhood and everything 26970 Call has to offer. A rare opportunity in one of Hayward’s most sought after neighborhoods, 26970 Call will offer future residents a high quality of life while being well connected to major job markets throughout the San Francisco Bay Area.
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26970 Call Avenue
2.63 Acres
26970 Call Avenue
Hayward, CA  94542
Type: Land
Closed: 9/30/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is excited to present the exclusive listing of Ansley at Princeton Lakes in Atlanta, Georgia. Ansley at Princeton Lakes provides a premier opportunity to acquire an institutionally maintained asset with market-proven premiums and substantial rental upside in a high-growth MSA. The property’s location directly adjacent to I-285 provides an ease of connectivity to all of Atlanta’s major job hubs, as well as being eight minutes from the Southeast’s largest jobs driver, Hartsfield-Jackson International Airport (63K+ jobs). The property is embedded in 1M+ SF of high-quality big box retail and surrounded by booming industrial development. Also, South Fulton’s lack of historical and future multifamily supply further bolsters Ansley at Princeton Lake’s continued prosperity.
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Ansley at Princeton Lakes
306 Units
3871 Redwine Road
Atlanta, GA  30344
Type: Conventional
Closed: 9/30/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 104-unit Vintage Creek apartment community located in Augusta, Richmond County, Georgia. This asset is situated in west Augusta, close to major retail and restaurant corridors. Built in 1972, Vintage Creek represents an outstanding opportunity to invest in a nearly untouched asset that is primed for renovation. Its central location gives Vintage Creek immediate access to over 50K Downtown employment opportunities and 25K Fort Gordon jobs.
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Vintage Creek
104 Units
1924 North Leg Road
Augusta, GA  30909
Type: Conventional
Closed: 9/29/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 156-unit Lexington Park apartment community located in northwest suburban Atlanta, Smyrna, Georgia. This asset has high accessibility off S. Cobb Drive and I-285, and is located within minutes of Cobb County's largest employment hubs (2 miles southwest of Dobbins Air Reserve Base and 4 miles west of the Platinum Triangle). Built in 1963, Lexington Park represents or offers an outstanding opportunity to invest in a well-located asset within a growing Cobb County submarket.
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Lexington Park
156 Units
2950 South Cobb Drive
Smyrna, GA  30080
Type: Conventional
Closed: 9/23/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Residences at Fayetteville, a 120-unit apartment community located in Fayetteville, North Carolina. The property is surrounded by the region’s prominent thoroughfares, which provide residents convenient access to the plethora of retail in the immediate area, as well as the largest employers in the city, including Fort Bragg. Built in 1969 and renovated in 2019, The Residents at Fayetteville offers an outstanding opportunity to invest in an asset with very little deferred maintenance after a recent $1M+ capital infusion. Furthermore, an extremely successful in-place multi-pronged value-add initiative is underway, presenting upside of a potential 20% boost in annual NOI.
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The Residences at Fayetteville
120 Units
600 Ashbrook Court
Fayetteville, NC  28314
Closed: 9/22/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 256-unit apartment community located in Cordova, Tennessee. This asset is situated in rapidly-expanding Shelby County, approximately 30 minutes from Downtown Memphis. Built in 2003, Villas At Cordova offers an outstanding opportunity to invest in this premier asset, with legitimate value add potential.
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Villas at Cordova
256 Units
8546 Prestine Loop
Cordova, TN  38018
Type: Conventional
Closed: 9/21/2020
Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire 1901 Broadway (the "Property"), a premier light rail adjacent multifamily development site in Sacramento’s urban core. Comprised of ±1.27 acres encompassing a full city block, current designs for the Property anticipate a six-story, 224 unit surface-parked apartment community. 1901 Broadway’s location in the heart of the Broadway Corridor and adjacent to the thriving Midtown and Downtown submarkets provides future residents instant access to the live-work-play offerings that have transformed Sacramento into California’s fastest growing major city.

1901 Broadway is currently a 28,415 square foot vacant office building with a 51 stall parking lot. One of the most respected architectural firms in the Sacramento region has contemplated a new 224 unit surface-parked multifamily community with 4,772 square feet of complementary ground floor retail space. The City of Sacramento is a supportive partner that has already proven it will approve a highdensity project at this site and is eager to help bring this development to fruition.

1901 Broadway provides the rare opportunity to acquire a significant infill development opportunity in the heart of Sacramento’s urban revival. With a high-efficiency design and transit-oriented location, the Property will provide future residents a highly amenitized living experience and convenient enjoyment of Sacramento’s highly sought after lifestyle amenities.
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1901 Broadway
1.27 Acres
1901 Broadway
Sacramento, CA  95818
Type: Land
Closed: 9/18/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 431-unit Ascent at Jones Valley apartment community located in Huntsville, AL, arguably one of the hottest metros in the entire U.S, which has added over 12K jobs and $5B of capital investments since the start of 2018. This asset is situated in the rapidly-expanding Jones Valley corridor of Southeast Huntsville, with $110K+ avg. household incomes, direct access to top schools, retail, and other amenities close by. Built in 1978, Ascent at Jones Valley offers an outstanding opportunity to invest in a proven value-add asset in a top-5 U.S. market for rent growth.
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Ascent at Jones Valley
431 Units
1225 Willowbrook Drive
Huntsville, AL  35802
Type: Conventional
Closed: 9/18/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 140-unit Serenity at Sterling, located in Birmingham, AL which has experienced 25,000+ new jobs and $2B+ in capital investments (Downtown) over the past 3 years. This asset is situated near quality retail with easy access to Downtown. Built in the early 1970’s, but heavily capitalized within the last three years, Serenity at Sterling represents an outstanding opportunity to invest in a cash-flowing property with value add upside near major economic drivers.
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Serenity Birmingham Portfolio (3 properties, 308 units)
Serenity at Sterling
140 Units
107 Sterling Court NW
Birmingham, AL  35215
Type: Conventional
Closed: 9/16/2020
Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire the 100% fee simple interest in 1849 Knox Street ("1849 Knox" or the "Property"), a 5-unit multifamily property with ±82% rental rate upside in Castro Valley, California. Built in 1965 and available for acquisition for the first time in 36 years, 1849 Knox represents a significant value-add opportunity with a market-proven $1,100+ per unit post-renovation premium.

Surrounded by two BART stations and major employers such as Sutter Health, Oracle, Workday, Kaiser and Roche Molecular Systems, Castro Valley has experienced 26% rent growth in the past 5 years. The Property’s instant access to the San Francisco Bay Area’s diversified economy combined with the area’s persistent housing imbalance is expected to result in 17% rent growth by 2025 while maintaining over 95% average occupancy. While located in Castro Valley, 1849 Knox is within the Hayward Unified School District boundaries. Available for acquisition at 28% below replacement cost, 1849 Knox presents the exceptional opportunity to capture significant rental upside in one of the San Francisco Bay Area’s most central and accessible locations.
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1849 Knox
5 Units
1849 Knox Street
Castro Valley, CA  94546
Closed: 9/15/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 130-unit Sierra Place apartment community located in Sandy Springs, Fulton County, Georgia. Eight-five percent of the 2005-incorporated city's residential land allows for only detached, single-family homes. Sierra Place is located a half mile from Whole Foods, and offers desirable access to Roswell Road retail and best-in-metro access to Atlanta's top employment districts. The nearby Central Perimeter corporate center, home to the new Mercedes-Benz and State Farm corporate campuses, is Atlanta's largest job base with 33M SF of office and 135,000+ employed.
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Sierra Place
130 Units
66 Northwood Drive
Sandy Springs, GA  30342
Type: Conventional
Closed: 9/15/2020

Cushman & Wakefield, as exclusive marketing advisor, is pleased to present the Port Royale Apartments, a 553-unit apartment community located along the Intracoastal Waterway in Fort Lauderdale, Florida. This exclusive waterfront investment opportunity spans approximately 22 acres and features a midrise building with 161-units nestled along 380 feet of water frontage along with 392 garden style units graciously spread across 16 acres. The Port Royale Apartments were developed between 1988-1990 and today are part of an HOA which also includes 230 private condominiums in a single 20-story tower, 555 luxury rental units developed in 2017 and a 64-slip private marina. The 22 acre site is entitled for a total of 845 units, thus there remains the opportunity to develop an additional 292 units. To date, roughly 80% of the Property’s units have been renovated achieving average rent increases of $220. Port Royale represents a very unique investment opportunity in which a buyer can implement several complementary investment strategies to achieve outsized returns.

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Port Royale
553 Units
3101 Port Royale Boulevard
Fort Lauderdale, FL  33308
Closed: 9/11/2020

Veranda @ Speedway opened in June 2019 with the highest finishes in the submarket. With only highly sought-after studio and 1 bedroom floorplans and average rents below most competitors in the submarket. The property was fully occupied the day after the last building was completed, proving that the rents are well below market.

The property is within walking distance to a large shopping center providing lots of employment nearby as well as making the property a "walk-to" location for restaurants, bars, grocery, and other retail. The Indianapolis Motor Speedway is less than 2 miles away, which hosts the world’s largest sporting event, Indy 500, every year. The average income in a 1 mile radius is $54k, which is more than 6x the average market rent at Veranda. Also, within a 1 mile radius over 66% of housing is occupied by renters. This is likely due to the lack of housing options and high housing costs near the Indianapolis Motor Speedway.

The property is currently 96% occupied, allowing a new owner to come in and benefit from a high yield day one. The current owners invested over $140k in a completely new parking lot, new roofs, new windows, and painted siding. The units were completely gutted less than one year ago, with all new finishes, appliances, HVAC and plumbing. A new owner would not incur any major capital expenses for the near future.

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Veranda at Speedway
53 Units
6038 W 25th Street
Indianapolis, IN  46224
Type: Conventional
Closed: 9/10/2020
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Pensacola 495 (5 properties, 494 units)
Bayfront Apartments
86 Units
1200 Scenic Highway
Pensacola, FL  32503
Closed: 9/9/2020
Sold
Pensacola 495 (5 properties, 494 units)
Colony House
84 Units
800 Scenic Highway
Pensacola, FL  32503
Closed: 9/9/2020
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Pensacola 495 (5 properties, 494 units)
Creekside I & II
216 Units
110 Creekside Court
Pensacola, FL  32514
Closed: 9/9/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listings of Shannon Chase and Hidden Lake, two apartment communities in Union City, Fulton County, Georgia. Located less than 3 miles from each other, and strategically situated between 5-7 miles southwest of Hartsfield-Jackson International Airport, these assets benefit from numerous employment drivers in the rapidly expanding Atlanta aerotropolis district. Built in the mid-1980s, Shannon Chase and Hidden Lake arrive with massive value-add potential.
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Shannon Chase & Hidden Lake (2 properties, 476 units)
Shannon Chase
156 Units
5300 Georgia Highway 138
Union City, GA  30291
Type: Conventional
Closed: 9/9/2020