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Prattville at Highland Lakes
224 Units
1908 Briarwood Street
Prattville, AL  36067
Closed: 6/23/2020

Kingston Square is a 523-unit work force housing apartment community located on Indianapolis’ suburban east side. Originally developed as a co-op, it was converted to traditional for-rent apartments when the current owner purchased the property in 2013. The residents have benefited from this conversion as the current owner has completed $7.3 million+ in renovations, including a 24hr fitness center, interior unit upgrades and much more.

The community is situated on 24 acres with 29 two-story buildings. It offers an attractive mix of studios, 1-and 2-bedroom units, along with 2- and 3-bedroom townhomes. All the townhome units have washer/dryer hook ups. The units feature baseboard heating with electric sleeve air-conditioning unit, fully-equipped kitchens including new dishwashers and laminate flooring, upgraded bathroom vanities and plumbing fixtures, and a balcony/patio.

Kingston Square is located immediately west of I-465 off Shadeland Avenue, a major commercial thoroughfare, with convenient access to I-70 and I-69. The daily average traffic count on Shadeland is approximately 20,788 cars and I-465 is over 181,000 cars. Residents enjoy a quick commute to downtown Indianapolis and to the popular northside of Indianapolis.

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Kingston Square
523 Units
7171 Twin Oaks Drive
Indianapolis, IN  46226
Closed: 6/17/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of 511 Queens, a 64-unit boutique apartment community located in Charlotte’s affluent submarket of Myers Park. The walkable neighborhood is defined by upscale retail, trendy restaurants, and is one of the most sought-after residential submarkets in the Southeast. Myers Park is nestled between Uptown, the vibrant downtown employment district offering 116,000+ jobs, and SouthPark, a premier infill live-work-play destination. It is also moments from the city’s largest hospitals of Novant and Atrium, creating 32,000+ total jobs. Propelled by luxurious best-in-class features and a distinguished presence along Queens Road, 511 Queens arrives nearing stabilization after a rapid lease-up with strong in-place rents. With stabilization imminent, investors are ideally positioned to realize embedded rent growth driven by the continuation of proven lease-up concession burn off, attractive fundamentals highlighted by blue-chip renter profiles, and catalyzing new development surrounding Myers Park, positioning 511 Queens as Charlotte’s premier boutique asset.
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511 Queens
64 Units
511 Queens Road
Charlotte, NC  28207
Type: Conventional
Closed: 6/16/2020
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Jax Apartments
65 Units
2333 NE Jackson Street
Minneapolis, MN  55418
Closed: 6/15/2020
Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire 2531 Grove Way (the "Property"), a newly renovated multifamily community situated in one of the East Bay’s most sought-after submarkets and with no local rent control ordinance. Comprised of (10) two-bedroom townhouse-style apartment homes, the Property has been repositioned to provide one of the premier rental living experiences in the Castro Valley area by offering fully upgraded condominium-quality interiors, in-unit washers/dryers, private individual yards and private garages.

Surrounded by major employers such as Sutter Health, Oracle, Workday, Kaiser and Roche Molecular Systems, 2531 Grove Way experienced a remarkably successful post-renovation lease-up and boasts an average new resident household income of $140,000+ annually. The Property’s instant access to the nation’s top performing economy combined with the area’s severe housing imbalance is expected to result in 47% rent growth by 2029 which far outperforms similar, preferred inner Bay Area locations. 2531 Grove Way offers investors the rare opportunity to acquire a fully-featured and turnkey multifamily investment with embedded upside.
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2531 Grove
10 Units
2531 Grove Way
Hayward, CA
Closed: 6/10/2020
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Queensview West Apartments
36 Units
2785-2789 Queen City Ave.
Cincinnati, OH  45238
Type: Conventional
Closed: 6/1/2020
Sold
Glenrock
180 Units
2730 Dave Ward Drive
Conway, AR  72034
Type: Conventional
Closed: 5/22/2020

The Sycamores Apartments is a well maintained 210 unit community that has been owned and operated by the seller since 1992. The community is situated on 22 acres and located on Indianapolis’ southeast side. The property has mature trees and vast greenspace.

The property offers an attractive unit mix of one, two and three bedroom garden-style units with open floorplans and private entrances. The Sycamores offers untapped value add and upgrade potential by completing unit updated, adding washer/dryer hookups to all unit styles, allowing pets, converting a laundry building to a pet spa and adding a bark park.

The property is located just north of Stop 11 Road and just east of US-31 (the main north-south road in Indianapolis) on the city’s south side. The location provides The Sycamores a quiet atmosphere while being convenient to dining, entertainment and major employment centers.

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Sycamores
210 Units
1614 E. Stop 11 Road
Indianapolis, IN  46227
Type: Conventional
Closed: 5/21/2020

Park 33 is a 188-unit brand new Class A luxury apartment community built in 2018 and located in Goshen, Indiana. The community is situated on 14 acres and has 16 residential buildings, a leasing office and a sparkling pool. The property offers an attractive unit mix of 1 and 2 bedroom units with all single-story buildings, private entries and washer/dryer connections in all units.

The community offers an attractive mix of, 2 and 3-bedroom units and all with a full-size washer/dryer and half with direct garage access. The units include high-end finishes such as granite countertops, wood cabinets with high gauge drawer pulls, a flat glass-top range, a deep under-mount stainless-steel sink, energy-efficient appliances and vinyl plank flooring.

The amenities at Park 33 are equal to or exceed any of its peers. A beautiful clubhouse offers a 24-hour fitness center as well as the leasing and management office. Other amenities include a sparkling swimming pool, a fire pit, a grilling station, a bark park and a 24-hour package room.

The property 's location provides easy access to many employers and an abundance of economic activity.

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Park 33 - Goshen
188 Units
1401 Park 33 Blvd
Goshen, IN  46526
Type: Conventional
Closed: 5/15/2020
Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present Ravensworth Towers, a well maintained value-add high-rise apartment community in a supply constrained submarket within the Washington Metro area. Built in 1973, Ravensworth Towers has recently received a large infusion of capital to improve the asset quality. The Property offers a proven value-add opportunity with current rental premiums of approximately $120 based on a comprehensive upgrade that includes stainless steel appliances, plank wood flooring throughout the unit and new washers and dryers. This renovation package can be enhanced to mirror newer product in the submarket for additional rent increases. Similar properties in the submarket that have undergone full renovations currently rent at $195 more than Ravensworth Towers, and instituting a full renovation package can achieve rental premiums that will close the gap between the Property and its competitors. Ravensworth Tower’s location in proximity to I-495 and I-395 provides immediate access to the region’s many major employers and the most significant employment centers throughout the Washington Metro area. The Property’s desirable location and additional renovation upside presents investors with the rare opportunity to acquire a value-add, infill high-rise in one of the Washington region’s best locales.
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Ravensworth Towers
219 Units
4327 Ravensworth Rd
Annandale, VA  22003
Closed: 5/7/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group and Larry G. Schedler & Associates, Inc. are pleased to present the exclusive listing of the 183-unit Lake Terrace Gardens apartment community located in New Orleans, LA. This asset is situated in the thriving and diverse city of New Orleans, LA, less than five miles north of the French Quarter and less than two miles from the 1,300 acre City Park. Lake Terrace has little to no direct competition, due to the barriers of City Park to the west and Lake Pontchartrain to the north. Built in 1963 and renovated in 2008, Lake Terrace Gardens offers an outstanding value-add opportunity in a prime suburban in-fill location.
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Lake Terrace Gardens
183 Units
1620 Robert E Lee Blvd
New Orleans, LA  70122
Closed: 5/5/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 80-unit Briarcliff apartment community located in Wilson, NC. This asset is situated within close proximity to the area’s premier retail and employment and is also strategically located near the intersection of I-95 and I-795, providing ease of access to both Raleigh and Wilmington. In addition to the location advantages, the submarket has seen a phenomenal 6% year-over-year rent growth since 2016. This growth is a result of an increasingly affluent renter base who are projected to see a 10% increase to HHI income over the next 5 years, while unemployment levels dwindle to 3.8%. Built in 1966, Briarcliff represents the opportunity to investment in an asset that has recently received a large-scale exterior renovation and is primed to see a 50% increase to NOI through a multipronged value-add program.
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Briarcliff
80 Units
400 Crestview Ave SW
Wilson, NC  27893
Closed: 4/23/2020

Emerson Village Apartments, situated on 23 acres, is a 352-unit community conveniently located on the southeast side of Indianapolis. With exceptional visibility directly on a major north south thoroughfare, the property has mature trees, two lakes and provides a quiet neighborhood setting.

The well-maintained property was built in two phases, Phase I 1987 and Phase II 1988 with approximately thirty percent of the units currently upgraded allowing the new ownership the ability to further increase revenue by continuing the unit upgrades.

Located in Franklin Township, on the southeast side of Indianapolis, Emerson Village enjoys exceptionally easy and convenient access to downtown Indianapolis, local restaurants and employment.

Offered Free and Clear, the property’s stable financial performance will allow for the most competitive and attractive new debt structure.

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Emerson Village
352 Units
5140 Emerson Village Drive
Indianapolis, IN  46237
Type: Conventional
Closed: 4/22/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Nissen Building Apartments - a 145-unit, historic mixed-use, high-rise asset in the heart of flourishing downtown Winston-Salem. Attention to detail during the 2005 Nissen Building redevelopment, unique amenities, and existing quality of finishes provides the ideal canvas for a market-supported value-add platform to close a $200+ rent gap to competing downtown properties, while a perpetual 50% tax abatement drives cash flow. With frontage on 4th Street, Nissen Building residents enjoy supreme walkability to the Triad’s largest employers and eclectic entertainment venues in downtown Winston-Salem - a center city submarket that has witnessed nearly $2B of investment since 2000 as part of a continued renaissance. Drastically underserved by class A apartment units, downtown Winston-Salem boasts picture-perfect supply/demand fundamentals, offering investors of Nissen Building Apartments a chance to acquire a high-rise asset at an attractive basis with a protected rent growth runway.
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Nissen Building Apartments
145 Units
310 Fourth Street West
Winston-Salem, NC  27101
Type: Conventional
Closed: 4/17/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 400-unit The Hills on Breckinridge apartment community located in Duluth, Gwinnett County, Georgia. This asset is desirably positioned just off Pleasant Hill Rd., along the thriving I-85 northeast Atlanta corridor. Since acquisition, current ownership has invested $3M in capital improvements - creating in-place organic rent growth and significant potential for the next investor to completely round out the community. Built in 1985, The Hills on Breckinridge offers a rare opportunity in Gwinnett's high-growth submarket with proven upside.
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The Hills on Breckinridge
400 Units
3450 Breckinridge Boulevard
Duluth, GA  30096
Type: Conventional
Closed: 4/16/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 360-unit, Abbington Place apartment community located in Greensboro, North Carolina. Built in 2 phases (1995/1997), the low-density property received a recent capital investment of $3.86M that included new roofs, community amenity and parking lot enhancements, structural repairs, and interior upgrades to 65% of units. The demographics of the 1-mile radius surrounding Abbington Place outperform the broader market on nearly all fronts, with a 72% white collar workforce, 1.9% unemployment rate, and 50% of the population possessing higher education degrees. As the Greensboro-High Point MSA pipeline remains steady, the submarket will see a pause in development, having absorbed a recent surge in supply with ease. This strong market indicates the potential to take current, mid-tier renovations a step further at the property with the opportunity to boost annual NOI by 41% through a multi-faceted value-add 2.0 program.
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Abbington Place
360 Units
1521 Bridford Parkway
Greensboro, NC  27407
Type: Conventional
Closed: 4/14/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is excited to present the exclusive listing of the 241-unit Lofts at Zebulon apartments in Macon, Georgia. Completed in 2019, Lofts at Zebulon represents an outstanding opportunity to invest in a high-performing, best-in-class asset. Lofts at Zebulon is primed to explore additional revenue streams through second generation lease growth, charging for additional utilities, digital monument advertising, and on-site retail. The property is located adjacent to the premier shopping district Plantation Center and in a market with impressive fundamentals. The Macon-Warner Robins MSA is supported by its major economic drivers: Healthcare, Education, Manufacturing and Aerospace. Major employers such as Geico, Amazon, Navicent Health, Robins Air Force Base, and Tyson call Middle-Georgia home.
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Lofts at Zebulon
241 Units
5801 Zebulon Road
Macon, GA  31210
Type: Conventional
Closed: 4/14/2020

Parc Bordeaux is a 208-unit garden apartment community on Indianapolis’ suburban south side. The community was originally built in 1968 but has been extensively renovated. In 2002, the previous owner spent more than $3M on renovations which included the full renovation of 67 units, renovation of the clubhouse and extensive new landscaping. The current owner has spent almost $2M since 2015 and renovated the remaining 141 units.The community contains 20 two-story and 4 two-and-one-half-story residential buildings.

Floor plans include 11 studio units, 106 one-bedroom/one-bath units (in three floor plans), and 91 twobedroom /one-bath units (in two floor plans). Unit features include private entries, balconies or patios (in all 2nd level units). Kitchens include dishwashers, disposals (except in studios), electric oven/range and frost free refrigerator. The property offers residents access to a clubhouse with community room, 24-hour fitness center, pool with sundeck, sauna, playground, basketball courts, and tennis courts. Laundry centers are located in each building.

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Parc Bordeaux
208 Units
3410 Rue Chanel
Indianapolis, IN  46227
Type: Conventional
Closed: 4/1/2020
A Well-Maintained Asset with Value-Add Upside

Cushman & Wakefield, as exclusive advisor, is pleased to present Ocean Oaks, a 296-unit value-add garden community in Port Orange, Florida. Completed in 1988, the property features a two-story design with direct access units. The property sits on over 21 acres, providing a low density setting of only 14 units per acre. The property has undergone an extensive rehab program with over $2.5 million invested in capital improvements. Current ownership has also upgraded 68 units and is achieving rent premiums in excess of $150 per month. Ocean Oaks’ location within Port Orange is ideally located and central to some of the largest metros in Florida including Orlando, Jacksonville and Brevard County. The property is less than 1/2 mile from I-95 and provides a short commute to the areas largest employers including AdventHealth, Halifax Health, International Speedway, Boston Whaler, Frontier Communications and more. Ocean Oaks is located on the north side of Dunlawton Avenue which serves as a main thoroughfare in the area, with various retail and dining options within a short drive.

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Ocean Oaks
296 Units
1645 Dunlawton Avenue
Port Orange, FL  32127
Type: Conventional
Closed: 3/31/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Residences at Diamond Ridge (336 units) and The Residences at 1805 (200 units) apartment communities located in the thriving Piedmont Triad, which ranked 4th in the nation for non-major market rent growth in the second quarter of 2019. Both properties enjoy excellent proximity to the largest employment hubs across the Triad, as The Residences at Diamond Ridge is bordering downtown Winston-Salem (27,000+ jobs), and The Residences at 1805 is only a short drive from the Piedmont Triad International Airport area (26,000+ jobs) in Greensboro. After receiving a combined capital infusion of nearly $2 million over the past 18 months, both assets are primed to complete targeted interior value-add programs that would see rental premiums of $100-150, resulting in an annual NOI boost of up to 86%.
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The Residences at 1805
200 Units
1805 Fairfax Road
Greensboro, NC  27407
Type: Conventional
Closed: 3/31/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 264-unit, Vantage at Wildewood apartment community. Delivered in 1998, Vantage at Wildewood is located in the heart of Richland County’s Northeastern path of growth. Residents enjoy seamless access to the premier retail and employment in an area defined by an exceptional demographic base, including an average HHI of over $94,000 within a three-mile radius. Bolstered by large floor plans, substantial interior renovations completed throughout 2012-2013, and outstanding amenities, the property is poised to bridge a significant rental delta in effective rents with market competitors through a market-supported Class-A renovation initiative to capture $150 premiums.
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Vantage at Wildewood
264 Units
811 Mallet Hill Road
Columbia, SC  29223
Type: Conventional
Closed: 3/31/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 200-unit Paddock Club apartment community located in Florence, KY (Cincinnati Metro). This asset is situated in the high-growth market of Florence, in the southern area of the Cincinnati MSA. The property is a quarter mile from the dominant retail center in Northern Kentucky, which includes the 941K SF Florence Mall along with an additional 5M SF of retail in the immediate submarket. New developments and job counts are expected to rapidly increase in the submarket, with Amazon Prime's new $1.5 billion cargo hub under construction at the nearby Cincinnati/Northern Kentucky International Airport (3 miles). Built in 1995, Paddock Club represents an outstanding opportunity to invest in an exciting value-add asset in a fast-growing market.
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Paddock Club
200 Units
8000 Preakness Drive
Florence, KY  41042
Type: Conventional
Closed: 3/30/2020
Sold
32 Union
210 Units
17340 Fleming Street
Noblesville, IN  46060
Type: Conventional
Closed: 3/26/2020
Sold
Elevation Homewood & Vestavia (2 properties, 318 units)
Elevation Homewood
198 Units
1301 Lakeshore Place
Homewood, AL  35209
Type: Conventional
Closed: 3/26/2020