The Cushman & Wakefield Florida Multifamily Advisory Group is pleased to present the Archer Road Portfolio, a 582-unit, five-property portfolio, located in Gainesville, Florida.

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The Archer Road Value-Add Portfolio (5 properties, 582 units)
The Lofts
74 Units
3020 SW Archer Road
Gainesville, FL  32608
Closed: 8/16/2022

The Cushman & Wakefield Florida Multifamily Advisory Group is pleased to present the Archer Road Portfolio, a 582-unit, five-property portfolio, located in Gainesville, Florida.

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The Archer Road Value-Add Portfolio (5 properties, 582 units)
The Park
99 Units
3643 SW 20th Avenue
Gainesville, FL  32608
Closed: 8/16/2022

The Cushman & Wakefield Florida Multifamily Advisory Group is pleased to present the Archer Road Portfolio, a 582-unit, five-property portfolio, located in Gainesville, Florida.

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The Archer Road Value-Add Portfolio (5 properties, 582 units)
The Point
140 Units
3100 SW 35th Place
Gainesville, FL  32608
Closed: 8/16/2022

The Cushman & Wakefield Florida Multifamily Advisory Group is pleased to present the Archer Road Portfolio, a 582-unit, five-property portfolio, located in Gainesville, Florida.

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The Archer Road Value-Add Portfolio (5 properties, 582 units)
The Trails
170 Units
3230 SW Archer Road
Gainesville, FL  32608
Closed: 8/16/2022
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Sunrise
22 Units
880 Conrad Court
Placerville, CA  95667
Type:  Multifamily
Closed: 8/12/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Pointe at Irving Park, a 198-unit apartment community located in Greensboro, NC. This asset is in an extremely desirable and rapidly growing pocket of the Greensboro market, where affluent demographics, rising home values, and proximity to the area’s best employment centers contribute to this submarket’s appeal. Last year, area asking rents grew an astonishing 20.4% and are not expected to slow in the near term. Household income in a half-mile radius averaged $118K and home values averaged $313K, illustrating the strong economy and solid renter base that characterizes this area. The surrounding thoroughfares Pisgah Church Rd, North Elm Rd, and Cone Blvd allow residents of The Point at Irving Park to easily access the plethora of nearby retail options. Furthermore, the I-840 Urban loop is located just 1 mile away from the property and provides connectivity to the Triad region’s largest employers. Toyota, Publix, Cone Health, Amazon, and Guerrilla RF INC have made plans to expand to the area, fueling the recent economic expansion the Triad is currently experiencing. Built in 1987, The Pointe at Irving Park offers an outstanding opportunity to acquire an institutionally owned asset and inherit a proven, multifaceted value-add program to achieve a 38% ROI.
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The Pointe at Irving Park
198 Units
3100 North Elm Street
Greensboro, NC  27408
Type:  Multifamily
Closed: 8/12/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 368-unit 1500 Oak apartment community located in northeast suburban Atlanta, DeKalb County, Georgia. Immersed in an active commercial, distribution, and medical district, the asset is just south of US-78/Stone Mountain Freeway, 1 mile east of I-285, and less than 6 miles from the prolific Emory 'Eds & Meds' district. Historically, DeKalb County has seen tremendous rent growth due to a limited development pipeline and high workforce demand. A new owner can implement a Value-Add 2.0 to create significant upside. Built in 1973 and renovated in 2012, 1500 Oak is an outstanding opportunity to invest in a strong performing asset in a high-demand multifamily market.
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1500 Oak
368 Units
1500 Post Oak Drive
Clarkston, GA  30021
Type:  Multifamily
Closed: 8/10/2022

HIGH 5.4% CAP RATE WITH UPSIDE

20 East represents the rare opportunity to purchase a property at a 5.5% cap T- 3 Cap Rate on pricing guidance of $13.5M. Half of units have been upgraded (but current owner is not charging premiums) leaving additional value add potential through continued unit upgrades and organic rent growth.

98%+ OCCUPANCY & UNDER MARKET RENT

With a multiyear history of 95%+ occupancy, 20 East has demonstrated incredibly high renter demand. Current rental rates trail the surround comparable properties by more than 20%.

HOUSING UNDER SUPPLY & 1.6% UNEMPLOYMENT

The city of Elkhart has a substantial undersupply of housing. Employment has grown substantially, to an unemployment rate of 1.6% - the lowest in the country, outpacing new housing. A study recent study oncluded that there is a nearly 5,000-unit housing deficit in the city of Elkhart.

WELL MAINTAINED & SINGLE STORY PRODUCT

The entire property is single story and all of the units have a private entry and washer/dryer hookups. 20 East has benefitted from major capital expenditures in the last few years, leaving the new ownership to focus on property upgrades that will increase revenue.

360 UNIT PORTFOLIO: $99K/UNIT & 5% T-3 CAP RATE

20 East can be purchased individually, or as part of a three property, 360-unit portfolio. The Portfolio Pricing Guidance of $35.5M represents an average price per unit of just under $99k per unit and a blended 5.0% Trailing 3 Cap Rate.

   
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20 East
156 Units
2125 Toledo Road
Elkhart, IN  46516
Closed: 8/9/2022

ADJACENT TO HIGH GROWTH SUBURB

Northwoods is located immediately west of popular Indy, suburb of Avon. Ranked by Money Magazine as one of the nation’s best places to live, Avon provides all the advantages of Indy with exceptional access to vast employment and extensive recreational opportunities.

100% OCCUPANCY AND UNDER MARKET RENTS

With current occupancy of 100% and a multiyear history of 98%+ occupancy, Northwood has demonstrated incredibly high renter demand. Current rental rates trail the surrounding comparable properties by more than 20%.

RAISE REVENUE IMMEDIATELY

In addition to organic rent growth, a new owner can increase utility bill-back recovery which is currently only at 65%. With a modest rent increase and 85% Water / Sewer recovery annual income will increase by more than $130,000.

PREVIOUSLY RENOVATED

In 2012, Northwoods received a comprehensive renovation including a property gate, new windows, 100% interior unit renovations (new cabinets, stainless steel appliances, flooring, lighting and more) and exterior enchantments.

360 UNIT PORTFOLIO: $99K/UNIT & 5% T-3 CAP RATE

Northwoods can be purchased individually, or as part of a three property, 360-unit portfolio. The Portfolio Pricing Guidance of $35.5M represents an average price per unit of just under $99k per unit and a blended 5.0% Trailing 3 Cap Rate.

   
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Northwoods
122 Units
816 Winding Brook E. Drive
Indianapolis, IN  46234
Closed: 8/9/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Preserve at Columbus Park, a 300-unit, 2012-built apartment community located in the highly desirable location of North Columbus. Completed in 2012, The Preserve at Columbus Park represents the unique opportunity to acquire a newer-build, stabilized, quality product with exceptional value-add potential. This community is located in the North Columbus submarket, home to many of the region’s largest employers including TSYS, Aflac national headquarters, Piedmont Hospital & Columbus’ single, largest retail destination. The location boasts top-rated schools, excellent demographics, and claim to the city’s most sought-after residential address.
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The Preserve at Columbus Park
300 Units
5462 Whittlesey Blvd.
Columbus, GA  31909
Type:  Multifamily
Closed: 8/8/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 176-unit Main Street Columbia Portfolio, which can be acquired together or individually. Located in the heart of downtown Columbia, SC, all four assets offer direct access and visibility to the city’s most lively streets, major employers and entertainment options. The portfolio offers a rare combination of assets that contain features not commonly found including over 50,000 square feet of retail, historic status’, an array of unique floorplans and considerable tax benefits. Intriguing market fundamentals including a strong white-collar workforce and renter occupied population (~67% and ~71% respectively) position the assets to continue prospering for the long term. Built between 1903 and 1940, the Main Street Columbia Portfolio presents an exceptional opportunity to acquire four meticulously maintained assets with limitless upside as rents can be pushed significantly through the continuation of the value-add programs and organically with the 15% rent growth projected through 2026.
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Main Street Columbia Portfolio (4 properties, 176 units)
Berry's On Main
27 Units
1217 Taylor Street
Columbia, SC  29201
Type:  Multifamily
Closed: 8/5/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 278-unit Reserve at Garden Lake apartment community located in Riverdale, Clayton County, GA. This asset is situated in the rapidly-expanding Clayton County, where rent growth has climbed 17% over the last 12 months. The area’s performance is propelled by a surge in jobs and industrial growth, making the area a prominent manufacturing and logistics hub. Built in 1991, Reserve at Garden Lake offers an outstanding opportunity to invest in an asset with significant upside potential via an interior value-add program and organic rent growth.
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Reserve at Garden Lake
278 Units
1000 Lake Ridge Parkway
Riverdale, GA  30296
Type:  Multifamily
Closed: 8/5/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 176-unit Main Street Columbia Portfolio, which can be acquired together or individually. Located in the heart of downtown Columbia, SC, all four assets offer direct access and visibility to the city’s most lively streets, major employers and entertainment options. The portfolio offers a rare combination of assets that contain features not commonly found including over 50,000 square feet of retail, historic status’, an array of unique floorplans and considerable tax benefits. Intriguing market fundamentals including a strong white-collar workforce and renter occupied population (~67% and ~71% respectively) position the assets to continue prospering for the long term. Built between 1903 and 1940, the Main Street Columbia Portfolio presents an exceptional opportunity to acquire four meticulously maintained assets with limitless upside as rents can be pushed significantly through the continuation of the value-add programs and organically with the 15% rent growth projected through 2026.
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Main Street Columbia Portfolio (4 properties, 176 units)
Barringer Building
75 Units
1338 Main Street
Columbia, SC
Type:  Multifamily
Closed: 8/4/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 176-unit Main Street Columbia Portfolio, which can be acquired together or individually. Located in the heart of downtown Columbia, SC, all four assets offer direct access and visibility to the city’s most lively streets, major employers and entertainment options. The portfolio offers a rare combination of assets that contain features not commonly found including over 50,000 square feet of retail, historic status’, an array of unique floorplans and considerable tax benefits. Intriguing market fundamentals including a strong white-collar workforce and renter occupied population (~67% and ~71% respectively) position the assets to continue prospering for the long term. Built between 1903 and 1940, the Main Street Columbia Portfolio presents an exceptional opportunity to acquire four meticulously maintained assets with limitless upside as rents can be pushed significantly through the continuation of the value-add programs and organically with the 15% rent growth projected through 2026.
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Main Street Columbia Portfolio (4 properties, 176 units)
Kress Building
32 Units
1502 Main Street
Columbia, SC  29201
Type:  Multifamily
Closed: 8/4/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 176-unit Main Street Columbia Portfolio, which can be acquired together or individually. Located in the heart of downtown Columbia, SC, all four assets offer direct access and visibility to the city’s most lively streets, major employers and entertainment options. The portfolio offers a rare combination of assets that contain features not commonly found including over 50,000 square feet of retail, historic status’, an array of unique floorplans and considerable tax benefits. Intriguing market fundamentals including a strong white-collar workforce and renter occupied population (~67% and ~71% respectively) position the assets to continue prospering for the long term. Built between 1903 and 1940, the Main Street Columbia Portfolio presents an exceptional opportunity to acquire four meticulously maintained assets with limitless upside as rents can be pushed significantly through the continuation of the value-add programs and organically with the 15% rent growth projected through 2026.
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Main Street Columbia Portfolio (4 properties, 176 units)
Tapp's
42 Units
1644 Main Street
Columbia, SC  29201
Closed: 8/4/2022
Cushman and Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire the recently completed Altis Miramar (320 apartment homes) and Altra Miramar (330 apartment homes). Both properties represent the newest resident experience in Miramar and feature thoughtfully crafted unit layouts with finish levels and amenities that set the market standard for best-in-class living. They are also walkable to a brand new 57,000 square foot retail center featuring, Starbucks, Five Guys, World of Beer and Pediatric Associates.

Altis Miramar features a 3-story design with direct access units and attached garages in 56% of the units while Altra Miramar is a 5-story design with 75 tuck under garages. Both assets feature a mix of one, two and three-bedroom residences with an average unit size of 1,059 square feet at Altis Miramar and 951 square feet at Altra Miramar.

The properties are located directly across the street from Miramar Park of Commerce which features over 5 million square feet of office. They are less than two minutes from the Florida Turnpike providing an easy commute to the surrounding employment nodes of Miami, Doral, Ft. Lauderdale, Plantation and Sawgrass Corporate Office Park. Altis Miramar and Altra Miramar are being offered to the market for the first time by it developer, nationally recognized Altman Companies.

THE PROPERTIES CAN BE PURCHASED INDIVIDUALLY OR TOGETHER.
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Altis Miramar & Altra Miramar (2 properties, 650 units)
Altis Miramar
320 Units
11385 SW 30th Court
Miramar, FL  33025
Closed: 7/29/2022
Cushman and Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire the recently completed Altis Miramar (320 apartment homes) and Altra Miramar (330 apartment homes). Both properties represent the newest resident experience in Miramar and feature thoughtfully crafted unit layouts with finish levels and amenities that set the market standard for best-in-class living. They are also walkable to a brand new 57,000 square foot retail center featuring, Starbucks, Five Guys, World of Beer and Pediatric Associates.

Altis Miramar features a 3-story design with direct access units and attached garages in 56% of the units while Altra Miramar is a 5-story design with 75 tuck under garages. Both assets feature a mix of one, two and three-bedroom residences with an average unit size of 1,059 square feet at Altis Miramar and 951 square feet at Altra Miramar.

The properties are located directly across the street from Miramar Park of Commerce which features over 5 million square feet of office. They are less than two minutes from the Florida Turnpike providing an easy commute to the surrounding employment nodes of Miami, Doral, Ft. Lauderdale, Plantation and Sawgrass Corporate Office Park. Altis Miramar and Altra Miramar are being offered to the market for the first time by it developer, nationally recognized Altman Companies.

THE PROPERTIES CAN BE PURCHASED INDIVIDUALLY OR TOGETHER.
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Altis Miramar & Altra Miramar (2 properties, 650 units)
Avalon Miramar Park Place
330 Units
2750 SW 113 Lane
Miramar, FL  33025
Closed: 7/29/2022
The Fields at Rock Creek presents a rare opportunity to acquire a modern, functional, value-add asset in Frederick, MD. The Property’s location proximate to the region’s most trafficked accessways, I-270 and I-70, provides direct connectivity to the largest economic engines in the greater Washington and Baltimore MSA’s. Tremendous in-place employment there includes the I-270 Technology Corridor, Northern Virginia office market, and high-quality local employment in Frederick and Urbana which is leading to sustained demand from an affluent renter base. Additionally, the Frederick County Public School System creates a significant draw for younger renters who are looking for the unique combination of a top-tier education system at a relatively affordable cost of living. This increased demand is creating strong apartment market fundamentals with effective rent growth in the submarket of 15.2% YoY in Q4 2021 and vacancy of just 2.3%. The Property is perfectly positioned to take advantage of these lofty fundamentals and is currently 97% occupied with a proven value-add upside. Approximately 230 units have been renovated to achieve $150 premiums with 26% of the units (84 units) still in Classic condition. The opportunity exists for a new owner to renovate the remaining Classic units as well as upgrade the current renovation package to achieve premiums of $200+. The Fields at Rock Creek’s top-of-the-line community amenities, dynamic location and premier assigned schools is driving demand for an affluent renter by choice as evidenced by gross potential rent increasing 7.2% year-over-year 2021.
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The Fields at Rock Creek
314 Units
100 Alessandra Court
Frederick, MD  21702
Type:  Multifamily
Closed: 7/29/2022

2001/2019 BUILT PROPERTY W/ VALUE ADD

This well-known and well-maintained property offers 114 brand new phase II units and 92 phase I units with 2000s vintage finishes offering the potential for $200 rent premiums through completing unit upgrades.

WALKABLE URBAN LOCATION

Wabash Landing is ideally located between connected and vibrant Downtown Lafayette and West Lafayette. This irreplaceable location offers walkable access to onsite & adjacent retail, dining, parks, trails and entertainment.

IMPRESSIVE 8% RENT GROWTH

Wabash Landing has performed extremely well, is currently leased at 100% and has increased rents organically (not through upgrades) by 8% in 2021.

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.

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.

HIGH-END FINISHES AND FEATURES

Wabash Landing 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.

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Wabash Landing
206 Units
375 Brown Street
West Lafayette, IN  47906
Closed: 7/29/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 160-unit Winnstead apartment community located in Stockbridge, Metro Atlanta, GA. This asset is situated in the rapidly growing Clayton County, where demand is significantly outpacing supply. The area’s growth is propelled by a surge in jobs and industrial growth, making the area a prominent manufacturing and logistics hub. At Winnstead there is an excellent opportunity to dramatically increase rents through a full interior value-add program. Built in 1990, Winnstead represents an outstanding opportunity to invest in a proven value-add potential in Atlanta’s burgeoning southern crescent region.
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Winnstead
160 Units
3110 Mount Zion Road
Stockbridge, GA  30281
Type:  Multifamily
Closed: 7/29/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 232-unit Pine Ridge apartment community located in Albany, Dougherty County, Georgia. Built in 1980, Pine Ridge has undergone significant capital improvements, and offers value-add upside. A new investor has the opportunity to finish the in-place renovation program, boost renovations another level and organically push rent an additional $175+, achieving an ROI of 39% without reaching top of market. The community is poised to benefit from several new jobs coming in the next 12 months, including: Phoebe-Putney Health adding 350 new jobs in 2021 and Outdoor Network is investing $22 million and 92 new jobs into the community.
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Pine Ridge
232 Units
333 S. Mock Road
Albany, GA  31705
Closed: 7/28/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 60-unit Shy Manor Terrace apartment community located in Moultrie, Colquitt County, Georgia. This asset is strategically located in the Northern corridor providing quick access to Moultrie’s major economic drivers "Eds & Meds." Built in 1972, Shy Manor Terrace represents an outstanding opportunity to invest in a guaranteed cash flowing asset in an under-supplied affordable housing market. Due to a recent study, Shy Manor Terrace also has the ability to benefit from a Mark-to-Market program allowing rents to increase $200+ while maintaining an affordable property and within HUD/Section 8 guidelines. This rental increase would boost revenues by $145,000 annually.
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Shy Manor Terrace
60 Units
800 Northside Drive
Moultrie, GA  31768
Closed: 7/28/2022
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Chestnut Tree
110 Units
2207 Sumpter Road
Birmingham, AL  35226
Closed: 7/26/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 76-unit Northlake Townhomes apartment community located in Charleston, SC. This asset is situated in the highly sought-after North Charleston submarket which is widely known for its favorable multifamily characteristics. Northlake Townhomes’ proximate location provides residents direct access to 4 of the area’s largest economic drivers within 5 miles including the Charleston International Airport, Boeing, Joint Base Charleston, and Bosch Automotive, boasting 107k+ jobs within a 20-minute drive. The immediate area surrounding the property boasts high average household incomes ($74k), a majority white collar population (60%), and an educated talent pool as 30% have obtained a bachelor’s degree or higher. Built in 1984, Northlake Townhomes arrives to market 95% occupied with the biggest floorplans of any competitor (1,266 avg. SF), along with extreme upside potential for a value-add 2.0 campaign to capture premiums north of $270 and bridge the rental gap between top market competitors.
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Northlake Townhomes
76 Units
4135 Bonaparte Drive
North Charleston, SC  29418
Closed: 7/26/2022