The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 747-unit Spartanburg Value-Add Portfolio, which can be acquired together or individually. The five assets are situated in one of South Carolina’s most admired cities. The highly sought-after submarkets are characterized by globally recognized employers, top-tier retail, award winning school districts, and seamless connectivity via I-85 to major economic drivers. Immediate areas surrounding the properties boast high average household incomes, dominant white-collar populations, and impressive rent growth, representing the ideal time to own in this booming pocket of Upstate South Carolina. The properties offer an outstanding opportunity to gain immediate scale, infrastructure, and create efficiencies in a high growth Southeastern market. Built from 1972-1986, the portfolio arrives to the market primed for a Class-A value-add campaign projecting average premiums of $200-$250.
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Spartanburg 5 Portfolio (5 properties, 747 units)
Hidden Park
100 Units
320 Spruce Street
Spartanburg, SC  29303
Type:  Multifamily
Closed: 7/17/2024
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Mauldin Heights & Parkview, a premier 130-unit apartment portfolio located in a bustling Mauldin, SC market. Both properties are situated downtown in an area experiencing rapid economic growth through the extension of the Swamp Rabbit Trail, downtown Mauldin’s City Center redevelopment and the new town center of BridgeWay Station. The Mauldin submarket continues to prove out its heightened multifamily desirability. Centrally located, the portfolio offers residents direct access via I-85 and I-385 to several Greenville County’s largest employers with over 135k jobs within a 20-minute drive and top retail centers like the Woodruff Road retail corridor, Mauldin Square, and downtown Greenville. Built in 1971 & 1974, each asset offers an exceptional opportunity to acquire a primed for value-add portfolio in an affluent and high growth Southeastern market.
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Mauldin Heights & Parkview (2 properties, 130 units)
Mauldin Heights
80 Units
901 Main Street, North #87
Mauldin, SC  29662
Type:  Multifamily
Closed: 7/17/2024
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Mauldin Heights & Parkview, a premier 130-unit apartment portfolio located in a bustling Mauldin, SC market. Both properties are situated downtown in an area experiencing rapid economic growth through the extension of the Swamp Rabbit Trail, downtown Mauldin’s City Center redevelopment and the new town center of BridgeWay Station. The Mauldin submarket continues to prove out its heightened multifamily desirability. Centrally located, the portfolio offers residents direct access via I-85 and I-385 to several Greenville County’s largest employers with over 135k jobs within a 20-minute drive and top retail centers like the Woodruff Road retail corridor, Mauldin Square, and downtown Greenville. Built in 1971 & 1974, each asset offers an exceptional opportunity to acquire a primed for value-add portfolio in an affluent and high growth Southeastern market.
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Mauldin Heights & Parkview (2 properties, 130 units)
Parkview
50 Units
10 Moore Street, #55
Mauldin, SC  29662
Type:  Multifamily
Closed: 7/17/2024
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 747-unit Spartanburg Value-Add Portfolio, which can be acquired together or individually. The five assets are situated in one of South Carolina’s most admired cities. The highly sought-after submarkets are characterized by globally recognized employers, top-tier retail, award winning school districts, and seamless connectivity via I-85 to major economic drivers. Immediate areas surrounding the properties boast high average household incomes, dominant white-collar populations, and impressive rent growth, representing the ideal time to own in this booming pocket of Upstate South Carolina. The properties offer an outstanding opportunity to gain immediate scale, infrastructure, and create efficiencies in a high growth Southeastern market. Built from 1972-1986, the portfolio arrives to the market primed for a Class-A value-add campaign projecting average premiums of $200-$250.
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Sold
Spartanburg 5 Portfolio (5 properties, 747 units)
Pine Lake Village
100 Units
180 South Pine Lake Road
Spartanburg, SC  29306
Type:  Multifamily
Closed: 7/17/2024
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 747-unit Spartanburg Value-Add Portfolio, which can be acquired together or individually. The five assets are situated in one of South Carolina’s most admired cities. The highly sought-after submarkets are characterized by globally recognized employers, top-tier retail, award winning school districts, and seamless connectivity via I-85 to major economic drivers. Immediate areas surrounding the properties boast high average household incomes, dominant white-collar populations, and impressive rent growth, representing the ideal time to own in this booming pocket of Upstate South Carolina. The properties offer an outstanding opportunity to gain immediate scale, infrastructure, and create efficiencies in a high growth Southeastern market. Built from 1972-1986, the portfolio arrives to the market primed for a Class-A value-add campaign projecting average premiums of $200-$250.
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Sold
Spartanburg 5 Portfolio (5 properties, 747 units)
Quail Pointe
100 Units
460 East Blackstock Road
Spartanburg, SC  29301
Closed: 7/17/2024
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 747-unit Spartanburg Value-Add Portfolio, which can be acquired together or individually. The five assets are situated in one of South Carolina’s most admired cities. The highly sought-after submarkets are characterized by globally recognized employers, top-tier retail, award winning school districts, and seamless connectivity via I-85 to major economic drivers. Immediate areas surrounding the properties boast high average household incomes, dominant white-collar populations, and impressive rent growth, representing the ideal time to own in this booming pocket of Upstate South Carolina. The properties offer an outstanding opportunity to gain immediate scale, infrastructure, and create efficiencies in a high growth Southeastern market. Built from 1972-1986, the portfolio arrives to the market primed for a Class-A value-add campaign projecting average premiums of $200-$250.
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Sold
Spartanburg 5 Portfolio (5 properties, 747 units)
Southern Pines
352 Units
350 Bryant Road
Spartanburg, SC  29303
Type:  Multifamily
Closed: 7/17/2024
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 747-unit Spartanburg Value-Add Portfolio, which can be acquired together or individually. The five assets are situated in one of South Carolina’s most admired cities. The highly sought-after submarkets are characterized by globally recognized employers, top-tier retail, award winning school districts, and seamless connectivity via I-85 to major economic drivers. Immediate areas surrounding the properties boast high average household incomes, dominant white-collar populations, and impressive rent growth, representing the ideal time to own in this booming pocket of Upstate South Carolina. The properties offer an outstanding opportunity to gain immediate scale, infrastructure, and create efficiencies in a high growth Southeastern market. Built from 1972-1986, the portfolio arrives to the market primed for a Class-A value-add campaign projecting average premiums of $200-$250.
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Sold
Spartanburg 5 Portfolio (5 properties, 747 units)
Willow Lakes
95 Units
2900 Reidville Road
Spartanburg, SC  29301
Closed: 7/17/2024
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 195-unit North Creekside apartment community located in the booming Northwest Arkansas MSA. This asset is situated in the heart of highly sought-after Fayetteville, AR. Built in 1974, North Creekside offers an outstanding opportunity to invest in an asset with 100% classic interiors, coupled with market-backed Value Add upside in an irreplaceable micro location.
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North Creekside
195 Units
1764 North Leverett Ave
Fayetteville, AR  72703
Type:  Multifamily
Closed: 7/11/2024
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Meadows at HomePlace, a 240-unit, 2014-built apartment community located in the highly desirable Prattville, AL. Prattville has observed rapid expansion over recent years, with 15.4% population growth since 2010. This asset is situated within the master-planned HomePlace community consisting of nearly three million square feet of retail place, Capitol Hill Golf Club, upscale residential, and a Marriot Hotel. Built in 2014, Meadows at HomePlace offers the next investor the opportunity to acquire Prattville’s premier multifamily community, boasting Humphrey’s Big House Design with luxury amenities. The next investor will be acquiring an asset with strong occupancy trends (97% avg) and exceptional NOI growth (10.5%+), within the metro’s most desirable neighborhood.
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The Meadows at HomePlace
240 Units
790 Old Quarters Road
Prattville, AL  36066
Type:  Multifamily
Closed: 7/10/2024
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Park Ridge, a 122-unit Build-to-Rent townhome community in Myrtle Beach, SC on a forward sale transaction. The property is strategically located in the nation’s fastest growing city, boasting 32% population growth since 2011. Situated in the market’s primary recreation node, Park Ridge offers unbeatable access to the area’s top retail and entertainment, including the 162-acre North Myrtle Beach Sports Complex and the east coast’s largest wake park next-door. Myrtle Beach’s rapidly expanding millennial and boomer demographic bases highlight the submarket’s unique ability to support unprecedented growth within the Build-to-Rent space, as skyrocketing home-ownership costs and limited supply continue to price prospective home-buyers out of the market. Delivering in 2023, the Class-A community will feature best-in-class finishes and amenities, appealing to the area’s established tenant base who desire the conveniences of single-family living without the burdens and increasing financing costs of ownership. Market comparables and submarket projections outline the property’s vast rent potential (almost $2,400 at first CO), and highlight incoming ownership’s opportunity to acquire a differentiated, high-quality asset at an extremely attractive basis.
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Park Ridge
12 Units
Champions Blvd
Myrtle Beach, SC  29577
Closed: 7/9/2024
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the W Flats apartments, a 247-unit apartment community located in Charlotte, NC. The asset is conveniently situated a short 10-20 minute drive to Charlotte’s most prominent employers and amenities, with upcoming access to the proposed LYNX Silver Line light rail, The Pearl Medical Center, and the Eastland Mall redevelopment site. Built in 1986, W Flats represents an outstanding opportunity to invest in the rapidly transforming East Charlotte submarket with a highly desirable demographic pool of sizeable average household incomes, educated residents, and continuous market rent growth. With all 247 units previously renovated and nearly $2.7 million invested since 2015, the property possesses potential additional growth opportunities to close the gap between comparable properties in the submarket, supported by a $345+ rent headroom.
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W Flats
247 Units
7200 Wallace Road
Charlotte, NC  28212
Type:  Multifamily
Closed: 6/28/2024
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Colonial Village, a 314-unit apartment community located in the growing Charlotte submarket of Lincoln County. Located in the heart of Lincolnton, residents enjoy easy access to big box retailers, an excess of dining options, and employers surrounding the area. Constructed in 1985, Colonial Village offers an outstanding opportunity to invest in the high barrier to entry Lincoln County submarket where home values have continued to rise and price residents out of home ownership. With only one renovated unit, Colonial Village offers substantial upside potential through the completion of a market driven interior upgrade program, offering new ownership the opportunity to capture $190+ rental premiums.
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Colonial Village
314 Units
112 Colonial Village Drive
Lincolnton, NC  28092
Closed: 6/27/2024
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Dylan, a 152-unit apartment community located in Murfreesboro, Rutherford County, Tennessee. This asset is situated in the premier Murfreesboro suburb just 35 miles southeast of downtown Nashville on Interstate 24, a 10-minute drive to Middle Tennessee State University, and moments from the areas top employers, including Rutherford County Government (7,000 jobs), Nissan North America (7,000 jobs), and Amazon (2,000 jobs). Built in 1985, The Dylan represents a highly capitalized property that has seen $2.7M+ in capital expenditures by the current owner. This strong performing asset offers an outstanding value-add opportunity by continuing the current program and adding higher-end interior upgrades. With current income to rent ratio at the property of 4.00x ($63k mean income) – these tenants qualify for rents $400+ above the current leased average, which provides additional rental upside for the next owner.
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The Dylan
152 Units
1620 Battleground Drive
Murfreesboro, TN  37129
Type:  Multifamily
Closed: 6/25/2024
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Oak Tree, a 55-unit, 2023-built build-to-rent community located in the high-growth Chelsea suburb of Birmingham, AL. This asset is well-positioned in the rapidly expanding city of Chelsea, which was recently recognized as the 3rd fastest growing city in Alabama, as well as the fastest growing city within the Birmingham MSA. The Birmingham MSA has shown tremendous performance in the SFR/BTR space, boasting 7.6% rental growth so far in 2023, ranking fourth in the entire country amongst all major metro areas. Built in 2023, Oak Tree is fully delivered and offers a top-of-the-line quality product built by the nation’s largest home builder, poised in a high growth suburban corridor less than a 30-minute drive from the Birmingham central business district (35K+ Jobs).
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Oak Tree
55 Units
1000 Oak Tree Blvd
Chelsea, AL  35043
Type:  Multifamily
Closed: 6/24/2024
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 192-unit South Pointe at Wayside apartment community located in Raeford, North Carolina. Built in 2023, this newly constructed asset grants residents access to top-of-the-market amenities and Class A finishes designed to cater to the predominant white-collar workforce in the area (60%). Ideally located with direct access to Fort Liberty’s 67,000+ job opportunities and additional 9,000+ jobs within the premier Healthcare Corridor, the property is strategically positioned near the region’s top employers and retail options. South Pointe at Wayside offers new ownership the chance to invest in a high-performing asset that has showcased an impressive lease-up performance, averaging 17 move-ins per month from March to January. Surrounded by a limited supply pipeline coupled with an anticipated 6,000 new residents by 2027 and proven rent growth of 25.4% since 2021, new investors have an extraordinary opportunity to capitalize on the property’s future growth as it enters its second generation of leasing.
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South Pointe at Wayside
192 Units
1002 South Pointe Drive
Raeford, NC  28376
Type:  Multifamily
Closed: 6/21/2024

Cushman & Wakefield’s Multi-Family Advisory Group is pleased to present the opportunity to redevelop 465 Congress Street, the Fidelity Trust Building, in downtown Portland, Maine. The property – fully approved for sixty-three (63) luxury apartment units - is offered for sale or joint venture development with the existing ownership. Dating back to 1910, the building is a registered Portland historic landmark and was the city’s first “skyscraper.” Overlooking Monument Square in the heart of the downtown, and across Preble Street from the Time and Temperature Building, this offering is a truly rare opportunity to reposition a landmark building and create a legacy asset.

465 Congress Street is a ten-story building comprised of ±84,180 square feet on ±0.447 acres. The ownership has received approvals for the redevelopment of the 2nd through 10th floors (former office space) into sixty-three (63) apartment units. Most of the floors are already in “white box” condition with upgraded building systems in-place. The property is poised for construction to start, and the incoming developer can leverage both the Opportunity Zone and Historic Tax Credit programs to enhance project returns.

Process & Pricing

465 Congress Street is available on an “as-is” basis and is being offered without a formal asking price. Upon receipt of a signed confidentiality agreement, qualified investors will be provided with the offering memorandum and access to due diligence materials via the C&W website. Once investors have had an opportunity to review the offering materials and tour the property, C&W will schedule a “Call for Offers”.

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465 Congress Street
63 Units
465 Congress Street
Portland, ME  04101
Closed: 6/15/2024
Sold
12 Foster St
10 Units
12 Foster St
Boston, MA  02109
Type:  Multifamily
Closed: 6/1/2024

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Lowe, a 135-unit, 2022-built apartment community located in the desirable Street Car District of downtown Savannah Georgia. Completed in 2022, The Lowe represents a top of the line asset that includes premium amenities and finishes, an ability to push second generation leases, and location that is directly in downtown Savannah’s path of growth. Situated downtown, residents of The Lowe benefit from proximity to the area’s most sought-after restaurants and retail.

Since the announcement of the largest economic development project in Georgia history, the Hyundai EV plant (8,500 jobs) has been the catalyst of 18K additional jobs announced over the last 18 months. The EV plant is estimated to have a 4.7x multiple effect through supporting industries (40K total job impact).

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The Lowe
135 Units | 145 Beds
1501 Montgomery Street
Savannah, GA  31401
Type:  Multifamily
Closed: 5/22/2024
Sold
Birmingham Apartments
150 Units
250-304 Birmingham St
St. Paul, MN  55106
Closed: 5/17/2024
Sold
North Alabama 6 Portfolio (6 properties, 384 units)
Briarwood
72 Units
2501 Briarwood Ave
Fort Payne, AL  35967
Closed: 5/17/2024
Sold
North Alabama 6 Portfolio (6 properties, 384 units)
Chateau
32 Units
403 S 6th St
Gadsden, AL  35901
Closed: 5/17/2024
Sold
North Alabama 6 Portfolio (6 properties, 384 units)
Dogwood Trace
72 Units
164 Christopher Street
Rainbow City, AL  35906
Closed: 5/17/2024
Sold
North Alabama 6 Portfolio (6 properties, 384 units)
Orleans
72 Units
129 Llene St
Rainbow City, AL  35906
Closed: 5/17/2024
Sold
North Alabama 6 Portfolio (6 properties, 384 units)
Park Place
48 Units
1266 N Main St
Boaz, AL  35957
Closed: 5/17/2024