The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Bessemer Place, 136 units located in the Bessemer suburb of Birmingham, AL. Originally developed as a LIHTC asset, Bessemer Place has gone through its QC Period and is now in the process of converting to a conventional community. The next investor will enjoy both organic upside by upgrading the tenant base and value add upside by upgrading interior units. Bessemer is a rapidly expanding submarket and has become a bullseye destination for job growth, with several key job announcements including Amazon (1,500+ jobs), FedEx (285+ jobs), Mercedes-Benz (950+ jobs), Lowe’s (200+jobs) and Carvana (300+ jobs).
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Bessemer Place
136 Units
600 Flint Hill Road
Bessemer, AL  35022
Closed: 2/8/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 1,545-unit Gulf States 7 Portfolio spanning two different markets in Alabama and Mississippi. Comprised of 1,545 units, the Gulf States 7 Portfolio offers immediate scale throughout the Southeast, the nationwide leader in both rent and population growth. With 1,545 total units primed for value add upgrades, the next investor can add $2.5M+ to bottom-line NOI through interior value add. Built between 1972-1987, the Gulf States 7 Portfolio offers an outstanding opportunity to invest in a stabilized, cash flowing portfolio with major value add potential.
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Gulf States 7 Portfolio (8 properties, 1,951 units)
Corner Stone
226 Units
2637 The Meadows
Montgomery, AL  36116
Closed: 2/8/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Landings @ 237, a 496-unit apartment community located in Augusta, Richmond County, Georgia. This asset is situated in the rapidly-expanding area of West Augusta. Built in 1949 & 1966, The Landings @ 237 represents an outstanding opportunity to invest in a community that has a proven value-add story as the current program is achieving $100 premiums. Over the past 14 months, ownership has invested $1.4M in capital improvements at the property. These enhancements include 45 new roofs, renovated leasing offices, renovated entrances, sidewalk repairs, and significant landscaping work.
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The Landings @ 237
496 Units
237 Fox Trace
Augusta, GA  30909
Type:  Multifamily
Closed: 2/2/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 389-unit The Carlyle of Sandy Springs apartment community located in North Atlanta, Fulton County, Georgia. This asset is strategically located between Roswell Road and GA 400, in the highly affluent and sought-after Sandy Springs submarket. The asset is surrounded by 9.3M SF of retail, including high-end shopping, restaurants, and destination spots. The property is also steps from the Chattahoochee River and numerous nature trail systems. Due to the strong rent growth in the submarket, the 18 most recent leases have been signed at an average of $355 over in-place rents. With 123 fully renovated units at the property, the asset is primed for an interior value-add program to the remaining units. Built in 1972, The Carlyle of Sandy Springs offers an outstanding opportunity to invest in an exciting value-add asset in a high barriers-to-entry submarket with limited new supply.
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The Carlyle of Sandy Springs
389 Units
501 North River Parkway
Sandy Springs, GA  30350
Type:  Multifamily
Closed: 2/1/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the Hampton East and Friar Tuck apartment communities located in Albany, Dougherty County, Georgia. These two assets are both minutes from Albany’s largest employers, including Phoebe-Putney Memorial Hospital, Teleperformance, and Proctor & Gamble. Built in 1997 and 2003, Hampton East and Friar Tuck present an outstanding opportunity to immediately acquire some of the largest units in Albany’s robust multifamily market. Both communities offer new ownership feature primarily classic units, offering new ownership the opportunity to begin a value-add program boosting rents $108+ and garnering 38% Blended ROI. The area 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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Hampton East & Friar Tuck (2 properties, 108 units)
Friar Tuck
44 Units
2215 Friar Tuck Lane
Albany, GA  31707
Type:  Multifamily
Closed: 1/31/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Grande Pointe – 181 units in Daphne, AL. Situated along the desirable Eastern Shore of Mobile, the subject enjoys an affluent resident profile and close proximity to quality retail and employment. Located in Baldwin County, Grande Pointe belongs to the 7th fastest growing county in the US. The asset’s interior, exterior, and community amenity areas have been heavily capitalized in recent years – creating in-place organic rent growth and space for the next investor to completely round out the community. Built in 1984 (renovated 2018-2021), Grande Pointe offers an excellent opportunity to acquire a repositioned asset in a high growth submarket with proven value add upside.
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Grande Pointe
181 Units
133 Lake Front Drive
Daphne, AL  36526
Type:  Multifamily
Closed: 1/31/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 3-property, 1980s-1990s vintage, 178-unit GSO Portfolio located in Greensboro, NC. Guilford Place, Nottingham, and Pepper Tree apartment communities are ideally located in the rapidly growing West Greensboro submarket where home values, household income growth, employment opportunities, and retail expansion are on the rise. The GSO Portfolio is primed for organic rent growth in a submarket projected to see 4.4% YoY rent growth through 2025. Furthermore, incoming ownership can capitalize on a market supported value-add initiative by pushing rents $150+ culminating in a staggering 60% boost to NOI.
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GSO Portfolio (3 properties, 178 units)
Guilford Place Apartments
44 Units
320 Guilford College Rd
Greensboro, NC  27409
Closed: 1/31/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the Hampton East and Friar Tuck apartment communities located in Albany, Dougherty County, Georgia. These two assets are both minutes from Albany’s largest employers, including Phoebe-Putney Memorial Hospital, Teleperformance, and Proctor & Gamble. Built in 1997 and 2003, Hampton East and Friar Tuck present an outstanding opportunity to immediately acquire some of the largest units in Albany’s robust multifamily market. Both communities offer new ownership feature primarily classic units, offering new ownership the opportunity to begin a value-add program boosting rents $108+ and garnering 38% Blended ROI. The area 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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Hampton East & Friar Tuck (2 properties, 108 units)
Hampton East
64 Units
1336 Mercantile Drive
Albany, GA  31705
Type:  Multifamily
Closed: 1/31/2022

The Cushman & Wakefield Mid-Atlantic Single-Family Advisory Group is pleased to present the exclusive listing of The Meribeth Portfolio in Baltimore, MD. The 11 Building/ 22 Unit portfolio of residential duplexes are all located within a 2-3 minute walk of one another along three streets: Chinquapin Parkway, Meridene Drive, and MacBeth Drive, allowing for streamlined management operations and efficient economies of scale. The offering consists of exclusively 2 Bedroom/1 Bathroom Units, with 2 self-contained residences in each building. Standard unit finishes include white appliances, new wooden cabinets, vinyl wood floors, formica countertops, and distinct backsplashes. All but 1 one of the 11 buildings have basement washer/dryers, with each unit containing individual heating, cooling, and electric.

While current ownership has invested in both mechanical and in-unit renovations the opportunity exists for additional light upgrades leading to $100-$150 rent increases. Suggested improvements involve a modest refresh of appliances, cabinets, and the hallways, eliminating the rent delta of $800-$950 for monthly rents across the portfolio, and leasing all units at rates of $950-$1,000.

The Portfolio affords residents outstanding access to the top employers, higher education, dining, shopping, and entertainment destinations in the area. In addition to Baltimore County’s government offices and four major regional hospitals, which employ 12,000 physicians, nurses, and other professionals combined, residents can also easily access Towson University, Goucher College, and Morgan State University. Furthermore, the Portfolio is proximate to Towson Town Center, one of the largest indoor shopping malls in the region, the Trader Joe’s-anchored Shops at Kenilworth, and the new Towson Row development, which boasts a 45,000 square foot Whole Foods.

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Meribeth Portfolio
22 Units
Various
Baltimore, MD  21239
Type:  Multifamily
Closed: 1/31/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 3-property, 1980s-1990s vintage, 178-unit GSO Portfolio located in Greensboro, NC. Guilford Place, Nottingham, and Pepper Tree apartment communities are ideally located in the rapidly growing West Greensboro submarket where home values, household income growth, employment opportunities, and retail expansion are on the rise. The GSO Portfolio is primed for organic rent growth in a submarket projected to see 4.4% YoY rent growth through 2025. Furthermore, incoming ownership can capitalize on a market supported value-add initiative by pushing rents $150+ culminating in a staggering 60% boost to NOI.
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GSO Portfolio (3 properties, 178 units)
Nottingham
62 Units
4240 United Street
Greensboro, NC  27407
Type:  Multifamily
Closed: 1/31/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 3-property, 1980s-1990s vintage, 178-unit GSO Portfolio located in Greensboro, NC. Guilford Place, Nottingham, and Pepper Tree apartment communities are ideally located in the rapidly growing West Greensboro submarket where home values, household income growth, employment opportunities, and retail expansion are on the rise. The GSO Portfolio is primed for organic rent growth in a submarket projected to see 4.4% YoY rent growth through 2025. Furthermore, incoming ownership can capitalize on a market supported value-add initiative by pushing rents $150+ culminating in a staggering 60% boost to NOI.
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GSO Portfolio (3 properties, 178 units)
Pepper Tree
72 Units
4303 Trinity Avenue
Greensboro, NC  27407
Closed: 1/31/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the 342-unit Portofino apartment community located in Mobile, AL. The asset was purchased in 2017 and subsequently received $11.9M of CAPEX to principally deliver a brand-new asset. The Mobile MSA has experienced significant wins in recent years with large projects initiated by Walmart, Amazon and Airbus which are providing for job growth and heavy capital expenditures. Built in 1973 and 100% revitalized, Portofino offers an outstanding opportunity to invest in a cash-flowing asset that is poised to generate strong returns through second generation leases.
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Portofino
342 Units
3907 Michael Boulevard
Mobile, AL  36609
Type:  Multifamily
Closed: 1/31/2022
Coldwater Flats can be purchased as a part of a 3 property 905 unit portfolio. The properties may also be purchased individually.

Coldwater Flats can be purchased with:

Hermitage (280 units) More Information

Lawrence Landing (354 units) More Information

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Coldwater Flats
271 Units
1320 Lee Court
Evansville, IN  47714
Type:  Multifamily
Closed: 1/27/2022
Lawrence Landing can be purchased as a part of a 3 property 905 unit portfolio. The properties may also be purchased individually.

Lawrence Landing can be purchased with:

Hermitage (280 units) More Information

Coldwater Flats (271 units) More Information

1 RENOVATED COMMUNITY - 6.8% YR1 CAP / 5.9% T-3 CAP

Lawrence Landing is available at a 5.9% Trailing 3 Cap Rate and a 6.8% Cap Rate on Year 1 (with no additional renovations). The community offers reliable cash flow and a strong return immediately and can be purchased free & clear. The current owner has spent more than $5M on property renovations.

2 POTENTIAL TO INCREASE REVENUE

The new owner can continue to burn off the Loss to Lease and has been proven by the most recent leases which are $186 higher than legacy leases. In 2020, revenue grew by more than 7% which was organic rent growth and not as a result of unit upgrades. Washer/Dryer connections can be added to the 108 one-bedroom units to achieve a $50+ monthly premium.

3 DESIRABLE UNIT FEATURES & LUXURIOUS AMENITIES

70% of units offer washer/dryer connections and are a spacious 2 Bedroom/ 1.5 Bath Floorplan. Amenities include a fitness center, business center with free wifi, sparkling saltwater pool and sand volleyball court. A large lake that runs through the middle of the community offers beautiful lake views.

4 STRONG FUNDAMENTALS ON INDY’S EASTSIDE

Located directly on Shadeland Ave, a main north-south thoroughfare, Lawrence Landing offers residents easy access to ample nearby employment. The eastside of Indy has demonstrated high mid 90%s occupancy for many years and rental income growth of 25% since 2013.

5 PURCHASE INDIVIDUALLY OR 905 UNIT PORTFOLIO

Lawrence Landing can be purchased with Hermitage (280 units in Indianapolis, IN) and Coldwater Flats (271 units in Evansville, IN) for a total portfolio of 905 units, offering immediate presence and economies of scale. The properties may also be purchased individually.

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Lawrence Landing
354 Units
6875 Faris Avenue
Indianapolis, IN  46226
Type:  Multifamily
Closed: 1/27/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the 620-unit Montgomery 4 Portfolio located in Montgomery, AL. Benefitting from a strong manufacturing and government-centric economy, the Montgomery metro has garnered significant capital investments, highlighted by Hyundai’s announcement to invest $410M and create an additional 1,200 jobs to build a new light truck model in Montgomery. Targeted capital has improved the physical plant and helped boost collections across the portfolio. Built between 1971-1974 the Montgomery 4 portfolio offers an outstanding opportunity to invest well-maintained assets with major value add potential.
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Montgomery 4 Portfolio (4 properties, 620 units)
Woodley Gardens
152 Units
3639 Woodley Road
Montgomery, AL  36116
Type:  Multifamily
Closed: 1/25/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the 620-unit Montgomery 4 Portfolio located in Montgomery, AL. Benefitting from a strong manufacturing and government-centric economy, the Montgomery metro has garnered significant capital investments, highlighted by Hyundai’s announcement to invest $410M and create an additional 1,200 jobs to build a new light truck model in Montgomery. Targeted capital has improved the physical plant and helped boost collections across the portfolio. Built between 1971-1974 the Montgomery 4 portfolio offers an outstanding opportunity to invest well-maintained assets with major value add potential.
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Montgomery 4 Portfolio (4 properties, 620 units)
Woodley Oaks
104 Units
3731 Woodley Rd
Montgomery, AL  36116
Closed: 1/25/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the 620-unit Montgomery 4 Portfolio located in Montgomery, AL. Benefitting from a strong manufacturing and government-centric economy, the Montgomery metro has garnered significant capital investments, highlighted by Hyundai’s announcement to invest $410M and create an additional 1,200 jobs to build a new light truck model in Montgomery. Targeted capital has improved the physical plant and helped boost collections across the portfolio. Built between 1971-1974 the Montgomery 4 portfolio offers an outstanding opportunity to invest well-maintained assets with major value add potential.
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Montgomery 4 Portfolio (4 properties, 620 units)
Woodley Terrace
120 Units
3923 Woodley Road
Montgomery, AL  36116
Closed: 1/25/2022
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Breeza 32
33 Units
622 Wooddale Terrace
Greenwood, IN  46142
Type:  Multifamily
Closed: 1/20/2022

Cushman & Wakefield, Inc. is pleased to present the exclusive opportunity to acquire The Lennox, a 2015-vintage, core-plus, 100-unit apartment community located in the highly affluent Silverado Ranch submarket of Las Vegas, NV. Las Vegas is one of the fastest growing and best performing multifamily markets in the nation (over 20% year over year rent growth), positioning The Lennox as a limited-risk investment with superior rent growth prospects and long-term value appreciation potential.

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The Lennox
100 Units
430 E Cactus Avenue
Las Vegas, NV  89183
Closed: 1/20/2022

Cushman & Wakefield is pleased to present the exclusive opportunity to acquire the 184-unit "CasaBella" apartments in Las Vegas, NV. The property is comprised of two phases, the 120-unit "CB1" and 64-unit "CB2". CB1 is located at 4965 South Nellis Boulevard, while CB2 is located one block down Tropicana Avenue. The Paradise Valley East Submarket is one of the fastest growing and best performing multifamily markets in the Valley, placing CasaBella as a limited-risk investment with superior rent growth prospects and long-term value appreciation potential.

Yardi, Axio, Real Page, and CoStar project Las Vegas to be among the top 5 major metros in the nation for rent growth over the next five years, with CoStar projecting rent growth of over 25% in the next 36 months

The Paradise Valley East Vegas submarket experiences the highest demand for upper blue-collar workforce housing in the valley. The lack of quality inventory in this submarket puts CasaBella in an attractive position. Additionally, CasaBella is close to shopping & transportation and has great visibility on one of the major thoroughfares in the valley.

The CasaBella apartments offer investors the unique opportunity to acquire a new construction asset at a discounted price, below replacement cost, to all other new construction sales in the past two years. Additionally, investors will have the opportunity to begin a renovation scope that will help lift rents even further.

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CasaBella Apartments
184 Units
4965 South Nellis Boulevard
Las Vegas, NV  89120
Type:  Multifamily
Closed: 1/19/2022

Cushman & Wakefield, as exclusive advisor, is pleased to present Fall Ridge of Delray, a 60-unit, value-add property in east Delray Beach, Florida.

Built in 1980, the property sits on 4.86 acres. The property provides concrete block construction in a rare villa-style community totaling 10 triplex and 5 eight-plex units. All units are spacious two bedrooms-two bathrooms averaging 855-square feet. All units have washer/dryer hookups.

There is about $275,000 in rental upside at the property through loss-to lease burn-off and value add.

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Fall Ridge of Delray
60 Units
1100 SW 4th Avenue
East Delray Beach, FL  33444
Closed: 1/18/2022

2000's Built & Prime for Upgrades

Riverchase is a sought-after 2000's built asset with largely original finishes. This well-maintained property is primed to be upgraded, and by completing unit and common area upgrades, rents can be raised by $200+

Access to City's best Amenities

The westside location of Riverchase offers easy access to the interstate to be downtown, to the award-winning Indianapolis International Airport, the Indianapolis Speedway or Eagle Creek Park in minutes.

Near Abundant Employment

Riverchase is located on the west side of Indianapolis adjacent to Hendricks Co. The property offers a location that offers an abundance of high-wage employment as well as easy access to the northwest side and downtown employment corridors.

Unparalleled Unit Features

The unit features at Riverchase are unmatched in the market. 100% of the units have washer/dryer connections and fireplaces. Units also have abundant natural light, breakfast bar seating, a french door to the patio/balcony and top floor units feature vaulted ceilings.

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Riverchase
216 Units
2730 Riverchase Dr.
Indianapolis, IN  46214
Closed: 1/18/2022

The Cushman & Wakefield Multifamily Advisory Group is pleased to present the exclusive listing of the MacDonald Building, located in St. Louis, Missouri. This asset is desirably positioned in an Opportunity Zone, at the corner of Washington Avenue and North 18th Street, and in the heart of a developing area just east of the new St. Louis CITY SC MLS Stadium (Delivery 2023).

The property is being offered for sale as a re-development opportunity with Federal and State Historic tax credits and a 10-year abatement secured and in place. As proposed, the property will include 71-units with garage parking and potential for rooftop amenities.

The existing building has been well maintained and can also be purchased as is for office or creative space use.

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MacDonald Building
71 Units
1800-1808 Washington Avenue
St. Louis, MO  63103
Type:  Multifamily
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 464-unit Pine Crest apartment community located in North Charleston, SC. The 42-acre site is strategically located near the eclectic neighborhood of Park Circle, offering varied dining and entertainment options, as well as the evolving Charleston Navy Base & Shipyard and easy access to I-26. As one of the few workforce housing assets in the Park Circle submarket, Pine Crest has ideal access to multiple large employers and variety among employment options. Built in 1945 and situated on 42 acres, Pine Crest offers an outstanding opportunity to invest in a value-add proposition that is strongly supported by large rent deltas with rent comparables in the market. In addition to the value-add opportunity, investors will be able to acquire 42 favorably-located acres in a dynamic and growing submarket, expected to only improve with the projected transformative construction and reuse projects planned and currently underway in the area.
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Pine Crest
464 Units
1920 McMillan Ave
North Charleston, SC  29405
Type:  Multifamily
Closed: 1/14/2022