Cushman & Wakefield’s Multi-Family Advisory Group is pleased to present the opportunity to acquire 11 Langdon Street, a boutique 17-unit apartment building located in rapidly evolving, Everett, Massachusetts. The property is in close proximity to several up-and-coming features of Everett, most notable the Encore Boston Resort and Casino. It also boasts easy access to the MBTA’s Orange Line, Silver Line and commuter rail. Just north of Boston, Everett is a short commute from the area’s major employers, academic institutions, shops, dining and entertainment destinations.

Investment Highlights

Significant Recent Capital Improvements Since acquiring the property in early 2020, current ownership has made significant capital improvements throughout the asset, including gut renovations of ten (10) units and extensive common area upgrades. Ownership has invested more than $575,000 into these improvements over the last 18 months. Furthermore, they are in the process of installing a new keyless building access system and restriping the parking lot, both of which shall be completed prior to closing.

Neighborhood DevelopmentStrategically located in one of the most rapidly evolving neighborhoods in the Greater Boston area, the property is surrounded by multiple on-going and upcoming transformative developments, such as Encore Boston Resort and Casino, Assembly Row, Cambridge Crossing, Hood Park, and the Silver Line Extension. Most notably, Encore Boston, located less than a ½ mile from the property, has transformed this portion of Everett. Completed in summer 2019, the $2.6 billion development spans 30+ acres and has cemented Everett as a true "live, work, play" destination.

Transit Oriented-11 Langdon offers residents great transit accessibility, including Orange Line (Assembly Row), Silver Line (Chelsea), and commuter rail (Chelsea) stations all located less than 10 minutes from the property. These rapid transits hubs connect Everett to Greater Boston’s world-renowned institutions, medical centers and business hubs. Additionally, these transit options offer immediate access to Logan International Airport, Boston’s Seaport District, as well as South and North Station.

11 Landon Street is available on an "as-is" basis and is being offered without a formal asking price. Upon receipt of a signed Confidentiality Agreement, investors will be provided with access to due diligence materials via The Multifamily System website. Once investors have had an opportunity to review the offering materials and tour the property, Cushman & Wakefield will schedule a "call for offers".

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11 Langdon Street
17 Units
11 Langdon Street
Everett, MA  02149
Closed: 6/24/2022

FULLY UPGRADED WITH LUXURY FINISHES & AMENITIES

The current owner has spent $5.5M on property upgrades including all new roofs and HardiePlank siding, luxury amenities and top-of-the-line unit finishes. 100% of the units have new designer cabinetry, granite countertops, stainless steel appliances, LVT flooring and come complete with all in one washer/dryer unit.

IN-PLACE CASH FLOW & HUGE UPSIDE

With 95%+ historical occupancy, the property offers excellent cash flow immediately. A new owner can continue to grow revenue easily by simply burning off the current $750k annual loss to lease. The current market rent still trails the competing properties by $25 - $74 and is achievable on new leases.

GREAT ATTRIBUTES

The Jameson was thoughtfully constructed with excellent layouts, 70% of units with the popular 2 bed/2 bath style, and 14% of units with a unique single-story cottage.

ADJACENT TO NOTABLE HEALTHCARE EMPLOYMENT

Located adjacent to St. Vincent Hospital (13,000+ emp) and less than 4 miles from Hamilton County, Indiana’s highest income area, The Jameson offers residents easy access to employment, retail, services and excellent schools. St. Vincent Hospital will be undergoing a $325M expansion, which will lead to the creation of many new jobs in the property’s immediate vicinity.

CONVENIENT & SOUTH AFTER NORTHSIDE INDY

Conveniently located near an abundance of big box and boutique shopping and a wide variety of dining options. Travel just north of the property on the heavily concentrated 86th Street for Trader Joe's, Costco & Fresh Thyme. Luxury shopping & dining at Keystone at the Crossing is just five miles away.

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The Jameson
258 Units
1808 Century Way
Indianapolis, IN  46260
Closed: 6/24/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of SFR 59 Portfolio, a 59-home SFR portfolio located in the Birmingham, AL MSA. The SFR 59 Portfolio, comprised of 59 Single Family Rental Homes located within 8 existing retail communities, offers an ultra-rare opportunity to acquire scale in the Birmingham market from a prominent local developer. The majority of homes were built within the last 5 years and are strategically located in high-growth suburban markets: Irondale, Trussville, Lakeshore, and Gardendale. These neighborhoods have experienced retail value growth from 5-10% YOY since construction, and in-place rents remain $200-$500 below nearby comps. Demand for SFR assets has steadily increased over the last decade as renters increasingly prefer home-like living without the burden of home ownership, and single-family rentals have emerged as one of the most attractive asset classes to both institutional and private investors.
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SFR 49 Portfolio (6 properties, 49 units)
5th Avenue - Irondale
10 Units
2219 5th Avenue South
Irondale, AL  35210
Type:  Single-family
Closed: 6/23/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of SFR 59 Portfolio, a 59-home SFR portfolio located in the Birmingham, AL MSA. The SFR 59 Portfolio, comprised of 59 Single Family Rental Homes located within 8 existing retail communities, offers an ultra-rare opportunity to acquire scale in the Birmingham market from a prominent local developer. The majority of homes were built within the last 5 years and are strategically located in high-growth suburban markets: Irondale, Trussville, Lakeshore, and Gardendale. These neighborhoods have experienced retail value growth from 5-10% YOY since construction, and in-place rents remain $200-$500 below nearby comps. Demand for SFR assets has steadily increased over the last decade as renters increasingly prefer home-like living without the burden of home ownership, and single-family rentals have emerged as one of the most attractive asset classes to both institutional and private investors.
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SFR 49 Portfolio (6 properties, 49 units)
Brooks Crossing
9 Units
3207 Chase Court
Trussville, AL  35235
Closed: 6/23/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 84-unit, 336-bed Huntsville Place student housing apartment community located in Huntsville, AL. This asset is situated less than one-mile northwest of the University of Alabama in Huntsville (9.5K+ students), 1.1 miles directly south of Oakwood University (1,500 students) and roughly 10 minutes away from downtown Huntsville, AL. UAH is consistently ranked as one of the best colleges in salary potential for recent graduates. The purpose-built student housing asset was completed in 2008 and is the only standalone asset of its kind that also offers large 4BD/4BA floorplans. The asset is in a market with 8% avg. rent growth since the first quarter of 2019. Boasting exceptional performance in a top investment market, Huntsville Place represents an outstanding opportunity to invest in a high-performing student asset in one of the top multifamily markets in the U.S.
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Huntsville Place
84 Units | 336 Beds
4955 Century Street NW
Huntsville, AL  35816-1973
Closed: 6/23/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 116-unit Langley Place apartment community located in Decatur, DeKalb County, Georgia. This asset is situated in desirable east metropolitan Atlanta, and is convenient to numerous employers along the prolific I-20 East industrial corridor. Langley Place is just 3 miles east of the vibrant entertainment and dining options in Decatur, recently ranked as the #2 suburb in Georgia by Niche.com. This is an excellent opportunity to acquire a well-located property in a strong organic rent growth submarket.
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Langley Place
116 Units
3801 Kensington Court
Decatur, GA  30032
Type:  Multifamily
Closed: 6/23/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of SFR 59 Portfolio, a 59-home SFR portfolio located in the Birmingham, AL MSA. The SFR 59 Portfolio, comprised of 59 Single Family Rental Homes located within 8 existing retail communities, offers an ultra-rare opportunity to acquire scale in the Birmingham market from a prominent local developer. The majority of homes were built within the last 5 years and are strategically located in high-growth suburban markets: Irondale, Trussville, Lakeshore, and Gardendale. These neighborhoods have experienced retail value growth from 5-10% YOY since construction, and in-place rents remain $200-$500 below nearby comps. Demand for SFR assets has steadily increased over the last decade as renters increasingly prefer home-like living without the burden of home ownership, and single-family rentals have emerged as one of the most attractive asset classes to both institutional and private investors.
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SFR 49 Portfolio (6 properties, 49 units)
Montevallo Park
3 Units
2987 Montevallo Park Road
Irondale, AL  35210
Closed: 6/23/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of SFR 59 Portfolio, a 59-home SFR portfolio located in the Birmingham, AL MSA. The SFR 59 Portfolio, comprised of 59 Single Family Rental Homes located within 8 existing retail communities, offers an ultra-rare opportunity to acquire scale in the Birmingham market from a prominent local developer. The majority of homes were built within the last 5 years and are strategically located in high-growth suburban markets: Irondale, Trussville, Lakeshore, and Gardendale. These neighborhoods have experienced retail value growth from 5-10% YOY since construction, and in-place rents remain $200-$500 below nearby comps. Demand for SFR assets has steadily increased over the last decade as renters increasingly prefer home-like living without the burden of home ownership, and single-family rentals have emerged as one of the most attractive asset classes to both institutional and private investors.
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SFR 49 Portfolio (6 properties, 49 units)
Odum Road Neighborhood
1 Units
415 Odum Road
Gardendale, AL  35071
Closed: 6/23/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of SFR 59 Portfolio, a 59-home SFR portfolio located in the Birmingham, AL MSA. The SFR 59 Portfolio, comprised of 59 Single Family Rental Homes located within 8 existing retail communities, offers an ultra-rare opportunity to acquire scale in the Birmingham market from a prominent local developer. The majority of homes were built within the last 5 years and are strategically located in high-growth suburban markets: Irondale, Trussville, Lakeshore, and Gardendale. These neighborhoods have experienced retail value growth from 5-10% YOY since construction, and in-place rents remain $200-$500 below nearby comps. Demand for SFR assets has steadily increased over the last decade as renters increasingly prefer home-like living without the burden of home ownership, and single-family rentals have emerged as one of the most attractive asset classes to both institutional and private investors.
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SFR 49 Portfolio (6 properties, 49 units)
Oxmoor Village Neighborhood
11 Units
2745 Village Place
Birmingham, AL  35211
Closed: 6/23/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of SFR 59 Portfolio, a 59-home SFR portfolio located in the Birmingham, AL MSA. The SFR 59 Portfolio, comprised of 59 Single Family Rental Homes located within 8 existing retail communities, offers an ultra-rare opportunity to acquire scale in the Birmingham market from a prominent local developer. The majority of homes were built within the last 5 years and are strategically located in high-growth suburban markets: Irondale, Trussville, Lakeshore, and Gardendale. These neighborhoods have experienced retail value growth from 5-10% YOY since construction, and in-place rents remain $200-$500 below nearby comps. Demand for SFR assets has steadily increased over the last decade as renters increasingly prefer home-like living without the burden of home ownership, and single-family rentals have emerged as one of the most attractive asset classes to both institutional and private investors.
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SFR 49 Portfolio (6 properties, 49 units)
Woodridge Neighborhood
15 Units
1360 Woodridge Place
Gardendale, AL  35071
Closed: 6/23/2022
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Paces at the Estates
270 Units
1150 Academy Drive
Opelika, AL  36801
Closed: 6/22/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Park on 23rd, 98 units located in Pell City, Alabama (Birmingham MSA) which has the nation’s second lowest unemployment rate according to the Wall Street Journal and 60K+ jobs added since April 2020. The asset is situated 0.5 miles off of I-20 and only a mile from downtown Pell City, a rapidly growing submarket in the Birmingham MSA with YoY rent growth of 12%+ during 2021.This asset’s location puts it 15 minutes from the Honda vehicle assembly plant in Lincoln, AL (4,500+ jobs). Built in 1992, The Park at 23rd represents an outstanding opportunity to invest in a cash flowing asset with strong submarket fundamentals.
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The Park on 23rd
98 Units
1103 23rd Street N
Pell City, AL  35125
Closed: 6/17/2022

The Cushman & Wakefield Midwest Multifamily Advisory Group is pleased to present the exclusive listing of Ivy Towns & Flats , a 266-unit, 2015-built apartment community located in very desirable West Lafayette, a booming city known for both Purdue University and innovative industry.

The acquisition of Ivy Towns & Flats represents the opportunity to own one of the best properties in a very sought after location. The property offers everything high-income dwellers are looking for - from a luxurious amenity set to the high-end unit finishes, attached garages and a single-family feel.

LUXURY SUBURBAN PROPERTY WITH SIGNIFICANT RENT GROWTH POTENTIAL

Ivy Towns and Flats is the premier suburban property in West Lafayette. At 99% occupancy, the ability to increase rents is clear based on the incredible demand for a quality well-located product. It is expected that rents can be increased by more than $200 immediately.

HIGH-END RESIDENT BASE

Residents at Ivy Towns & Flats are young, educated and high earning with approximately 60% being students. The current non-student residents work in diverse professions including education, healthcare and technology and boast an average HH Income of over $82,000.

HIGH-END FINISHES & UNIQUE FEATURES

Ivy Towns & Flats offers high-end finishes, attached garages, a single-family residential feel and open floorplan living space. The elevated amenity set offers residents the comfort and convenience they demand.

IMPRESSIVE MARKET FUNDAMENTALS

Greater Lafayette shows strong 6.2% rent growth and 94% occupancy with limited new construction. The area is bolstered by growing Purdue University where applications 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 a top place to live work and play.

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Ivy Towns and Flats
266 Units
2080 Foxglove Way
West Lafayette, IN  47906
Type:  Multifamily
Closed: 6/16/2022

The Cushman & Wakefield Florida Multifamily Advisory Group is pleased to present the 234-unit Oasis at Belmont Park multifamily community located in Bradenton, Florida.

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Oasis at Belmont Park
234 Units
4300 18th Street W
Bradenton, FL  34205
Closed: 6/16/2022

Maple 500 is a 34-unit apartment community with an upside to rent. The property has been fully upgraded and modernized in each unit with new appliances, granite countertops, walk-in closets, stackable washer and dryers, and refinished hardwood floors. The property is historically fully occupied due to its convenient location to the Oklahoma State University campus. Maple 500 is located within a block of the campus and is in close proximity to Boone Pickens Stadium, Gallagher-Iba Arena and Campus Corner.

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Maple 500
34 Units
510 W Maple
Stillwater, OK  74074
Type:  Multifamily
Closed: 6/15/2022
Cushman & Wakefield's Mid-Atlantic Multifamily Advisory Group is pleased to present The Residences at Waterstone, a rare opportunity to acquire a unique, proven value-add asset in the one of the Baltimore MSA's best suburbs. The Property, built in 2002, is a first-generation value-add investment with functional characteristics similar to newly constructed assets within the Baltimore MSA. The Property presents some of the largest floorplans in the market averaging 1,453 square feet with many featuring individual garages leading into units. The combination of drive-up garages, spacious floorplans, and institutional quality has allowed for rental increases of up to $260 on renovated units with 61% of the units still in Classic condition. Renovated units are upwards of $300+ below the market rents of neighboring competitive properties which can allow for addition rent premiums. Increased tenant demand is creating strong apartment market fundamentals with effective rent growth in the submarket of 12.8% YoY in Q4 2021 and vacancy of just 2.6%. The Property is perfectly positioned to take advantage of these lofty fundamentals and is currently 93% occupied. The Residences at Waterstones top-of-the-line community amenities, dynamic location, below market rents and proven value-add upside presents a rare opportunity to acquire suburban Baltimore's most unique apartment community.
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The Residences at Waterstone
255 Units
225 Galvariun Court
Pikesville, MD  21208
Closed: 6/15/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is excited to present the exclusive listing of Mariner Grove, a 320-unit luxury apartment community located in Savannah, Chatham County, Georgia. The property is strategically located near Downtown Savannah, Eastern Wharf, Port of Savannah, Tybee Island and Savannah Proper, providing great access to major economic drivers as well as top entertainment hubs. Built in 2016, Mariner Grove represents a rare opportunity to acquire a highly amenitized urban asset with robust property performance and tremendous upside shown in recent leases that are achieving 12% premiums over in-place rents. Savannah’s exceptional job market, growing industrial sectors and continued population growth will support Mariner Grove as a premier asset with boundless upside.
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Mariner Grove
320 Units
2010 East President Street
Savannah, GA  31404
Type:  Multifamily
Closed: 6/14/2022

The Cushman & Wakefield Florida Multifamily Advisory Group is pleased to present the 128-unit Hilltop Apartments at Daytona community located in Daytona Beach, Florida.

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Hilltop Apartments at Daytona
128 Units
458 Brentwood Drive
Daytona Beach, FL  32117
Closed: 6/13/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 256-unit Covington Park & Southbrook Gardens apartment communities located in Jackson, Hinds County, MS. The assets are well located right next to each other with quick access to Downtown Jackson and the MSA’s premiere retail pockets via I-55. Located within a supply constrained submarket with strong rent growth, each asset offers an immediate opportunity to initiate an interior value add program and push rents $75 while remaining in LIHTC compliance. Built in 1975 & 2006, Covington Park & Southbrook Gardens offer an outstanding opportunity to invest in up trending, well-located LIHTC assets.
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Covington Park & Southbrook Gardens (2 properties, 256 units)
Southbrook Gardens
100 Units
345 Daniel Lake Blvd
Jackson, MS  39212
Closed: 6/13/2022
Sold
Dothan 262 Portfolio (5 properties, 262 units)
Chateau
32 Units
1308 Sioux Street
Dothan, AL  36303
Type:  Multifamily
Closed: 6/9/2022
Sold
Highland Lakes
224 Units
1908 Briarwood Street
Prattville, AL  36067
Closed: 6/9/2022
Sold
Dothan 262 Portfolio (5 properties, 262 units)
Rock Creek
100 Units
1304 Cornell Avenue
Dothan, AL  36303
Type:  Multifamily
Closed: 6/9/2022
Sold
Dothan 262 Portfolio (5 properties, 262 units)
Summer Tree
72 Units
560 Fortner Street
Dothan, AL  36301
Closed: 6/9/2022
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Dothan 262 Portfolio (5 properties, 262 units)
The Gardens
27 Units
314 Virginia Drive
Dothan, AL  36301
Type:  Multifamily
Closed: 6/9/2022