Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present Crescent at Chevy Chase, a newly constructed asset located in Chevy Chase, Maryland, one of the wealthiest suburbs in the broader DC metro area. The Property is located squarely in the path of growth, as it is just a 5-minute walk to the Connecticut Avenue Purple Line stop, which is currently under construction and will be delivered in December 2027, providing transit access from New Carrollton to downtown Bethesda. This transit expansion will provide easy access to the haven of amenities in downtown Bethesda, which has over 1.7M SF of retail space and is the home of numerous Fortune 500 companies. The property’s location also allows for easy access to I-495 and I-270, providing access to the bulk of suburban Maryland’s prominent federal and regional employers, including the NIH, Marriott International Headquarters, Walter Reed National Medical Center, Suburban Hospital, Lockheed Martin, and the broader I-270 Biotechnology Corridor which is the pre-eminent research corridor in the country with over 300 biotech companies and more than 50,000 employees. The demographics within a one-mile radius of the property are among the best in the region, as median household income, bachelor’s degree attainment, and white-collar employment all exceed those of Montgomery County and the Washington DC MSA. On top of this, the average monthly mortgage payment needed for the median home sale price in Chevy Chase is 146% higher than the average effective rent in the Chevy Chase submarket, further driving foot traffic to rental housing. The property was constructed to LEED certification standards, resulting in a full county tax abatement through 2028, boosting the property’s appeal and value for future ownership. Crescent at Chevy Chase is an ideal opportunity to acquire a best-in-class asset in a dynamic location with rental and operational upside potential, at an attractive discount to replacement cost.

Cushman & Wakefield’s Multifamily Advisory Group, in collaboration with Ten-X, is pleased to present the opportunity to acquire the Cross Street Apartments, an 18-unit, garden style, project-based section-8 apartment community located at 28 Cross Street in Central Falls, Rhode Island.

Located less than 10 minutes from the heart of downtown Providence, the property benefits greatly from its strategic location, along the Rhode Island/Massachusetts border, which provides residents immediate access to employment drivers and transportation options located in both States. The property is ideally situated 0.25 miles from Interstate 95 and 0.5 miles from Route 1, making it easily accessible to residents needing to commute to Providence and the surrounding areas, as well as nearby employers in Massachusetts.

Cross Street Apartments is available on an “as-is, where-is” basis and is being offered without a formal asking price. Property due diligence materials are available to qualified buyers upon execution of a confidentiality agreement. Tour dates will be made known to registered buyers prior to the auction deadline. Please visit www.ten-x.com/listing/28-cross-st-central-fallsri-02863/29421275/ to sign the confidentiality agreement, download the due diligence materials and register for the auction.

The Cushman & Wakefield Multifamily Advisory Group is pleased to offer for sale, Crystal Lakes Apartments, a 716-unit valueadd apartment community located in one of Richmond, Virginia’s best locals. Built in 1967, Crystal Lakes presents the opportunity to acquire significant scale in one of the Mid-Atlantic’s leading apartment markets. The Richmond Market has been an out performer with low vacancy and accelerated rent growth over the last twelve months with this trend projected to continue. Crystal Lakes is perfectly positioned to take advantage of these lofty fundamentals due to its convenient location in Chesterfield County, which offers some of the region’s top schools and quality of life. The Property’s location, along with its unique townhouse style construction, creates consistent renter demand and a significant competitive advantage in the market. Further major employers and employment centers are located in close proximity to Crystal Lakes with downtown Richmond 10 minutes away. The current owner has invested significant capital to cure deferred maintenance and bring down units back online while also establishing a renovation program which is proving out rent increases of $165. The opportunity exists for a new investor to replicate or enhance this renovation for similar premiums. This unique opportunity to acquire a large scare asset with proven value-add upside is rare in the Richmond market and makes Crystal Lakes a truly one of a kind offering.

The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 504-unit The Crossings at Carmichael apartment community located in Montgomery, AL. This asset is situated in the growing Midtown submarket, offering unmatched access to both Downtown and the booming East Montgomery. Built in 1974, The Crossings at Carmichael is perhaps the most well-located 70’s vintage asset in Montgomery. There is efficiency available given its high unit count and upside to further push rents and occupancy in 2017.

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Dalewood Townhomes, a 50-unit, 1986-built townhome community located in Austin, Texas. Dalewood offers prospective buyers an exceptional opportunity to acquire a property with an attractive assumable loan that has a rate of 3.13% and 5 years of term remaining. The asset is situated in a single-family neighborhood, offering residents a tranquil lifestyle proximate to retail and schools. Dalewood also gives families a cost-effective alternative to owning a home, as home prices and mortgage rates have increased drastically. Furthermore, Dalewood is surrounded by thousands of jobs including Apple’s Parmer Campus and Lakeline less than 2 miles away. The property also presents prospective buyers with a unique value-add opportunity, with both classic and upgraded units presenting the ability for further enhancements and significant rent premiums.

The Offering

Cushman & Wakefield’s Multifamily Advisory Group, in collaboration with Ten-X, is pleased to offer for sale via auction, Dean Estates, a 48-unit, 100% market rate, value-add apartment investment opportunity located in Cranston, Rhode Island. Built in 1976, the property is comprised of two (2) three-story garden style residential buildings, spread across 1.71 acres. The property boasts an attractive mix of twenty-four (24) one-bedrooms and twenty-four (24) two-bedroom units. Unit sizes far exceed market standard, with one-bedroom units averaging 830 square feet and two-bedrooms averaging 1,150 square feet.

Dean Estates is located in one of suburban Rhode Island’s premier residential submarkets, offering tenants access to the local Municipalities’ strong public schools, as well as countless retail, entertainment, and dining attractions, all located in immediate proximity to the Property. Major brands such as Whole Foods, LA Fitness, Rolex, and Lululemon all have brick and mortar locations within 1.5 miles of the property.

Dean Estates represents an opportunity to acquire a value-add apartment community in a highly regarded submarket at a significant discount to replacement cost and free and clear of any in-place financing.

Pricing and Auction Process

Dean Estates is available on an “as-is, where-is” basis and is being offered without a formal asking price. Property due diligence materials are available to qualified buyers upon execution of a confidentiality agreement. Tour dates will be made known to registered buyers prior to the auction deadline. Please visit www.Ten-X.com to sign the confidentiality agreement, download the due diligence materials, and register for the auction. The live online auction will commence on Monday, October 21st and will conclude on Wednesday, October 23rd.

Short-Sale Approval Required Price: $650,000 Price/Unit: $14,444 Price/SF: $22.22

29 units offered for sale | Buyer may obtain new financing PRICE: $1,425,000 PRICE/UNIT: $49,138 PRICE/SF: $71.93

The “Echelon at Centennial Hills” is a bite-sized institutional-quality asset in the desirable “Centennial Hills” submarket in Las Vegas. The asset combines oversized units (1,829 SF average), quality podium construction, structured parking, and a top-tier amenity base. The property is poised to take advantage of the accelerating trends of the northwest Vegas market through improved operations and a possible value-add program.

Location and asset type make this a unique offering, as Centennial Hills is the newest area of expansion in Las Vegas. The Centennial Hills location already rivals the established “Green Valley” submarket in the southeast. Single family developers, multifamily developers, and even high-end retail shops are thriving in the northwest. New multifamily projects are thriving, and luxury developers have plans to take advantage of the desirable demographics in the near future; the Calida group has plans to build an “Elysian” branded asset at the former “Great Mall of Las Vegas” location.

Las Vegas is the 29th largest MSA in the United States, and number one in rent growth among major metros. Rent growth figures averaged above 7.2% through 2018, with stronger growth in “lifestyle” assets than “workforce” assets. Additionally, Las Vegas leads the country in job creation, with year-over-year job gains of 3.2%. In total, 43,800 jobs were created through 2016 & 2017, and unemployment has recently dropped to 4.8%%. This job growth, paired with above-average population growth of 2.4%, continues to expand the local rental market. Additionally, personal income growth for Vegas was 6.1% in 2018, continuing to prove that the market has depth.

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the ±35.7-acre Eden Village Development Site located in Denton, TX (Dallas-Fort Worth metroplex). The exceptionally located residential site lends itself well to both build-to-rent and for sale development, as evidenced by high rental rates and home values in the area. Both uses are permitted by zoning. The site will be delivered with finished lots ready for vertical construction, with the majority of the sitework already complete. Denton, 45 min from downtown Fort Worth & 1 hr from downtown Dallas, is a unique and culturally rich university town with a historic downtown that has seen an explosion in development and employment opportunities in recent years. The Eden Village Development Site benefits from strong fundamentals in a growing North Texas market and is an excellent opportunity to assume an expedited development timeline.

Cushman & Wakefield is pleased to offer Elevation at the Village, a 214-unit garden style apartment community located in the highly desirable Town of Gilbert - named the best place to live in Arizona by Ranking Arizona (2022). Completed in 2023 by Vedura Residential, Elevation at the Village offers its residents a best-in-class lifestyle experience adjacent to the SanTan Village, one of the top shopping destinations in the Southeast Valley. The property is being offered on a free and clear basis, allowing investors the opportunity to structure financing that best fits their investment goals.

Cushman & Wakefield is pleased to present the exclusive listing of the 296-unit Landmark at Lake Ellenor apartment community in south Orlando, Orange County, Florida. Located a half mile west of US-441 and 2.5 miles east of the I-4 corridor, the asset offers quick access to south Orlando’s major employment centers, including Walt Disney World, Universal Orlando, Sea World, Darden Restaurants, and Lockheed Martin. Built in 1973, Landmark at Lake Ellenor offers investors an outstanding investment opportunity in one of Orlando’s highest rent growth submarkets.

Cushman & Wakefield, as exclusive advisor, is pleased to present the extraordinary opportunity to acquire Eve at the District (the “Property”) – a 195 unit, 60,889 square foot retail, 19-story, LEED Silver class-A high-rise abutting Miami’s Design District and Midtown neighborhoods. Eve at the District was delivered in 2016 and has consistently proven to be amongst the top performing luxury apartment buildings in the market. This is evident in the Property’s last 30 leases where rents are 43% above the current rent rolls old 30 leases.Beyond near term exceptional rent growth, opportunities through light unit renovations and the introduction of short-term rentals provide the ability for ownership to acquire a high performing, cash flowing Miami high-rise with above market returns.

The Property features a market leading combination of top-of-market unit finishes, including floor-to-ceiling glass windows that maximize Biscayne Bay and downtown skyline views, and all-inclusive resort-like amenities. Eve at the District onsite conveniences are enhanced by the Property’s location between over 1 million square feet of retail, which help to earn the Property a nearly perfect 97 Area Walk Score. The Property features nearly 61,000 square feet of retail that is currently 91% leased with lead tenants City Furniture and UFC Gym.

In 2024, Brightline’s Design District station is scheduled to open. The station will be less than a quarter-mile walk for residents and retail patrons. Through Brightline’s MiamiCentral Station, the Property will be connected to four modes of transportation and 75 stations throughout South Florida and the state. The Property’s accessible location to this station, its highway and main thoroughfare access, and its positioning between the city’s fastest growing neighborhoods elevates Eve at the District for generational success.

We are pleased to present the exclusive listing of The Fargo 600, a Single Family Rental (SFR) portfolio in Fargo, ND. The portfolio is situated throughout the Fargo/West Fargo/Moorhead MSA. Fargo is the largest city in North Dakota and shares a border along the Red River with Moorhead, MN. The units are conveniently located and close to major employers like North Dakota State University and Sanford Health.

The portfolio has a rare unit mix of 3, 4 and 5 bedroom units with an average age of 7.2 years and below market rents. Simple operational improvements will achieve significant rent premiums for new leases.

The portfolio presents an exciting opportunity to invest in an asset class that is growing in popularity. The number of units will allow an investor to be immediately at scale with cash flowing units and substantial appreciation going forward.