Cushman & Wakefield is pleased to present for sale, Sommerset Place Apartments, a 36-unit value-add opportunity in a tranquil pocket of Brooklyn Center, just off Highway 100 and next to Centerbrook Golf Course.

The property is located in a quiet residential neighborhood on the South side of Lions Park and steps from Shingle Creek and the Shingle Creek Regional Trail. Sommerset Place is also conveniently located minutes from Target, Walmart Super Center, Cub Foods, CVS Pharmacy, LA Fitness and numerous national and local restaurants. The property is just 10 minutes north of downtown Minneapolis and five minutes from both Brooklyn Center High School and Middle School.

Sommerset Place is a true value-add opportunity with legitimate immediate upside. The unit-mix is predominantly 2-Bedroom units and the average in-place rent is roughly $885/Month. Comparable properties in the submarket are renting 2-Bedroom units for $1,100/Month (see rent comps on Page 37 of OM), which is achievable at Sommerset Place by implementing a light in-unit renovation plan. The current vacancy rate in the city of Brooklyn Center is just 2.0% and the area is in high demand given its close proximity to downtown Minneapolis and other local attractions.

Sommerset Place is offered free and clear of existing financing and tours will begin the week of September 5th, 2018. Please contact Robert Dulin directly to set up a tour, which will be scheduled by appointment only.

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Cushman & Wakefield has been exclusively retained to offer SouthSide Works City Apartments, located at 2626 South Tunnel Blvd in Pittsburgh, PA (the "Property"). The Property is a 264-unit, 6-story Class A, luxury building located in the heart of SouthSide Works which is one of the most sought-after neighborhoods in Pittsburgh boasting a live, work & play environment. Recently constructed in 2016, the property offers easy access to the region’s top educational institutions, such as Carnegie Mellon University, the University of Pittsburgh and Duquesne University and is a hub for advanced robotics, engineering, major corporate employers. The property boasts open floor plans, floor-to-ceiling windows, a top-of-the-line finish package including contemporary kitchens, bathrooms and fixtures. There is a 24/7 maintenance service as well as incredible community amenities, indoor/outdoor heated pool and spa, zen garden, indoor/outdoor movie theater, fitness center and clubroom.

Cushman & Wakefield’s Southwest Multifamily Advisory Group is pleased to present the exclusive listing of the 130-unit Summerhill apartment community centrally located in Phoenix, Arizona. This asset is situated in a desirable and strategically located neighborhood between Central Phoenix and Scottsdale. Built in 1970, Summerhill represents an outstanding opportunity to invest in a strong location at a price below comparable sales.

Cushman & Wakefield’s Multifamily Advisory Group is pleased to offer for sale Tanglewood Village Apartments, a 176-unit market rate value-add apartment investment opportunity located in West Warwick, Rhode Island. Built in 1972-1973, the property is comprised of nine three-story residential buildings and a recently renovated clubhouse on 11.64 acres. Tanglewood Village is situated in a quiet residential neighborhood situated just one mile west of Route 2 (Bald Hill Road), Rhode Island’s premier retail corridor offering 5+ million square feet of shopping and entertainment, and two miles west of I-95, providing residents with unmatched regional accessibility. In recent years the property has been repositioned with over $1.5+ million in capital directed at base building improvements, interior common area upgrades, clubhouse renovations, amenity enhancements and select unit renovations.

Following the recent infusion of capital, and the strength in today’s apartment market fundamentals, Tanglewood Village offers a vast amount of untapped value to realize by increasing rents to market levels (mark-to-market) as well as the opportunity to implement a comprehensive unit renovation program that would generate significant rent upside.

Tanglewood Village is offered for sale on an "as-is" basis and without a formal asking price. Once investors have had an opportunity to review the offering materials and tour the property, Cushman & Wakefield will schedule a "Call for Offers" date.

Cushman & Wakefield is pleased to introduce the opportunity to purchase Terra Vista Palms, a 138-unit garden-style apartment community built in 1975 offering value-add potential to new ownership. Terra Vista Palms, at 59th and Northern Avenues, falls within the Downtown Glendale focus area. Historic Downtown Glendale has been experiencing a resurgence of restaurants and retail that attracts many residents with its quaint, city square feel. The property profits from good visibility on 59th Avenue with close proximity to many local conveniences and employment centers.

Terra Vista Palms offers an operational upside utilizing an interior and exterior renovation plan with the ability to increase effective rents and add value based on strong occupancy and projected rent growth. Contact us today to schedule your personal tour of Terra Vista Palms.

Cushman & Wakefield is pleased to present for sale, The Central, a 49-unit “Micro” Multifamily new construction located in a vibrant South Minneapolis neighborhood.

Completed in 2018 and 90% pre-leased upon opening June 1st, The Central was built with state-of-the-art construction while utilizing the highest efficiency standards in the market. The property offers stylish modern layouts with quartz countertops, high-end cabinets, premium wood flooring, stainless-steel appliances and Wi-Fi connected remote access thermostats in all units. The best-in-class amenities at the property are unrivaled to the competition and offer residents a community room with garage door opening to rooftop deck, fitness center, patio with outdoor grill, covered heated parking, heated indoor bike racks/storage, secure package delivery and free Wi-Fi throughout the building.

Centrally located in the heart of South Minneapolis, just off of Interstate 35W at the corner of 2nd Avenue South and East 35th Street, The Central’s prime position gives residents easy access to everything. The property is located minutes from Downtown Minneapolis, Uptown, Lyn-Lake, Eat Street, Lake Harriet, Lake Calhoun, Powderhorn Park, Midtown and Lake Nokomis. The Central is also steps from the thriving “Kingfield” neighborhood with locally acclaimed restaurants including Grand Café, Victor’s 1959 Café, Blackbird Café, Nighthawks Diner & Bar, Hola Arepa, Five Watt Coffee, Kyatchi, Pat’s Tap, Rincon 38 and Butter Bakery Café.

The Central is a unique opportunity to acquire a new construction, best-in-class “Micro” Multifamily asset in a desirable community with limited to no competition of similar properties in this price point.

The Cushman & Wakefield Student Housing Capital Markets Team in conjunction with RI Marketplace is pleased to present the exclusive listing of The Commons on Pratt, a 134-unit, 135-bed, student housing apartment community at the Indiana University of Pennsylvania (IUP). This asset is situated directly adjacent to IUP with immediate access on the south side of campus. Built in 1968, The Commons on Pratt offers an outstanding opportunity to invest in a well maintained, quality asset, at an extremely attractive basis below replacement costs in a market with no forward development pipeline.

This property will be offered at a reserve auction through the RI Marketplace platform. The auction end date is set for November 17th, 2022.   Visit the RI Marketplace platform here to review the information and set up an account prior to participating in the November auction.