The Cushman & Wakefield Mid-Atlantic Multifamily Advisory Group is pleased to present the exclusive listing of The Johns Hopkins Flats located at 3002 and 3026 Saint Paul Street Baltimore, MD 21218. While not contiguous, the 2 buildings and 13 units are located between East 30th and 31st Streets in rare proximity to Johns Hopkins University. The Institution enrolls more than 24,000 students and employs approximately 25,000 workers, distinguishing itself as the largest employer in Baltimore City.

Additionally, future ownership has the option to convert this conventionally leased multifamily asset into a rent-per-bed leasing model, catering to undergraduate, graduate students, and young professionals. The Properties are well-suited for light value-add kitchen and bathroom refreshes. Suggested interior unit improvements include granite countertops, stainless steel appliances and repainting kitchen cabinets.

The acquisition can be funded through the GSE Small-Balance Lending Program, which allows for higher-leverage non-recourse financing for loans of $1-$7.5Million.

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Johns Hopkins Flats
13 Units
3002 and 3026 Saint Paul Street
Baltimore, MD  21218
Type:  Multifamily
Closed: 1/10/2022

The Cushman & Wakefield Mid-Atlantic Multifamily Advisory Group is pleased to present The Alexander Brown Building 125 located at 125 East Baltimore Street. The Property currently sits vacant and offers developers the opportunity to acquire a boutique redevelopment site, in the high growth submarket of The Central Business District where rents have grown 10%+ over the past 12 months. The submarket is over supplied with Class A Luxury premium amenity apartments, creating a void for units catering to rent-by-necessity residents rather than lifestyle renters. Several nearby developments such as 22 Light Street will focus on smaller units with urbane modern interiors, but limited amenities, offering a quality living experience at affordable prices. Developers would be well-suited to follow this thesis at AB125.

The Property offers investors an active value-add opportunity via scalable redevelopment, with zoning allowing for a total of 60 Feet of Height by Right. C-5 Zoning allows favorable/flexible zoning with the potential highest and best use as Multifamily with a first-floor retail component. The Property is ideally positioned near major employers such as Truist (SunTrust Building), Wells Fargo Tower and is directly adjacent to M&T Bank's Regional Headquarters located at One Light Street, and home to 500 white-collar employees.

The asset presents rare opportunity for a buyer to acquire a historically significant, scalable redevelopment project in a Qualified Opportunity Zone which provides investors with an ideal opportunity to realize the substantial available tax savings offered by the QOZ program.

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Alex Brown Building
   
125 E. Baltimore Street
Baltimore, MD  21202
Type:  Land
Closed: 1/6/2022
Sold
Avenu Heights
15 Units
751 NW 1st Street
Miami, FL  33128
Closed: 1/6/2022
The Cushman & Wakefield Senior Housing Capital Markets and Sunbelt Multifamily Advisory Group are pleased to exclusively offer for sale Springwood at Allen, a 92-unit 62+ Active Adult community located in the affluent northern Dallas suburb of Allen, Texas. Recently completed in 2020, Springwood at Allen consists of 15 single-story garden-style apartment buildings as well as a clubhouse and outdoor pool. Since opening, the Property has experienced strong leasing and is currently 100% leased. The Community offers investors a middle-market active adult community with considerable upside through initiatives such as rate growth and in a well located and convenient suburban area of Dallas, one of the fastest-growing markets in the nation. The Community is situated in a well amenitized, convenient location and is prominently displayed on Main street with high driveby visibility and easy access to Allen’s premium outlet mall and surrounding retail.
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Springwood at Allen
92 Units
975 E Main Street
Allen, TX  75002
Closed: 1/6/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 204-unit Meadows at Green Tree apartment community located in Clarksville, Clark County, IN. This asset is situated north of Louisville MSA, in the rapidly expanding Southern Indiana submarket. Just off Veterans Parkway, the asset is walking distance to several large retailers. River Ridge, a 6,000-acre industrial park, is just a 15 minute drive from the property. With population and employment outpacing demand, the Southern Indiana submarket is experiencing rapid rent growth. Built in 1971, Meadows at Green Tree represents an outstanding opportunity to invest in a former LIHTC asset with value-add potential, located in a flourishing submarket.
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Meadows at Green Tree
204 Units
1418 Marlowe Drive
Clarksville, IN  47129
Closed: 1/5/2022

1. 2005 BUILT PROPERTY READY FOR UPGRADES

Creekside at Meadowbrook 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+.

2. EXCELLENT UNIT LAYOUTS

The unit layouts at Creekside at Meadowbrook are unmatched in the market. Units also have abundant natural light, breakfast bar seating, spacious kitchens, en-suite bathrooms and open concept floorplans.

3. PROXIMITY TO CHICAGO

The property is located just one hour away from bustling Chicago. Creekside at Meadowbrook offers easy access to the amenities, entertainment and employment of Chicago without the expense or hassle of living in the city.

4. BENEFITS FROM ILLINOIS AND CITY EXODUS

Nationally there is a migration toward the suburbs. Locally the town of Lowell is benefiting from a boom of new residents as people look to escape Chicago and migrate from northern Lake County (Merrillville) in favor of small town charms, taxes and environment.

5. STRONG EMPLOYMENT NEARBY

Employment opportunities are plentiful in Lake County Indiana and the region. Creekside at Meadowbrook offers residents easy access to Chicago area & northern Lake county employment.

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Creekside at Meadowbrook
192 Units
510 Creekside
Lowell, IN  46356
Type:  Multifamily
Closed: 12/30/2021

The Cushman & Wakefield Multifamily Advisory Group is pleased to present this exclusive offering to purchase the Park East Manor and Escondido Manor in Las Vegas, NV. The Park East Manor is located in the growing Downtown Las Vegas submarket, and is adjacent to the world famous Las Vegas Strip, nearby the gentrifying Arts District and the Fremont Street Experience. The Escondido Manor is located in the University District submarket in East Las Vegas and is directly across from UNLV, which has a yearly rate of 31,171 students enrolled.

ESMI ranked Las Vegas at #2 on their Talent Attraction Scorecard, and Yardi ranked Las Vegas at #3, nationally, for rent growth among major metros. The Downtown Las Vegas submarket has maintained above-average rent growth through COVID, sitting at a 5.86% Y-o-Y change, whereas the University District submarket has had a 4.6% Y-o-Y change.

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Escondido Manor & Park East Manor (2 properties, 160 units)
Escondido Manor
63 Units
4280 Escondido Sreet
Las Vegas, NV  89119
Type:  Multifamily
Closed: 12/30/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 240-unit Grande View apartment community located in Biloxi, Mississippi. This asset is located between Beach Blvd and Pass Rd which offers access to two major employment centers in Gulfport and Biloxi (59K+ total jobs). Built in 2003 and well-amenitized, the asset boasts exceptional performance trends (22.8% avg. growth on leases). In addition to the property's desirable offerings, Grande View lies within one mile of over 1.3 million square feet of retail and across the street from the Biloxi beaches thus providing for a top-of-market position. Arriving to market 96% occupied, the asset offers next ownership a rare opportunity to acquire a well-performing asset with value-add upside in a highly sought-after micro location (95%+ sub-market occupancy).
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Grande View
240 Units
151 Grande View Drive
Biloxi, MS  39531
Type:  Multifamily
Closed: 12/30/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 204-unit, Hudson Montford apartment community, a one-of-a-kind, core plus asset immersed in the heart of in-town living. The asset is located in the epicenter of Montford Park, Charlotte’s next core micro market exploding with commercial development and characterized by an affluent resident base ($137,000 avg. HHI), skyrocketing home values ($514,000 MHV), and Charlotte’s premier employment hubs with 195,000 jobs within a 15-minute drive. Built in 1999, Hudson Montford recently received a $6.3M capital infusion - creating thoughtfully reimagined interiors and an upgraded amenity package to match. While these upgraded interiors already rival the submarket’s best, new ownership still has the opportunity to implement a niche, luxury finish package that would differentiate Hudson Montford as the submarket’s crown jewel asset. These exquisite upgrades coupled with an average floorplan size 200+ square feet larger than neighboring infill submarkets provide new ownership a unique opportunity to close the $200 rent gap to nearby competitors as well as the $425 rent gap to the neighboring submarket of South End.
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Hudson Montford
204 Units
1420 Estates Avenue
Charlotte, NC  28209
Type:  Multifamily
Closed: 12/30/2021

Cushman & Wakefield is pleased to present the opportunity to acquire Lakeshore Heights - a 160-unit, three-story, garden-style apartment community located in Tallahassee, Florida (the "Property"). Completed in 2000, the Property went through a major renovation in 2019 that converted and upgraded many of the four-bedroom units to studio, one and two-bedroom units. Thirty-two four-bedroom units remain, demonstrating the possibilities for new ownership to complete the renovations. Lakeshore Heights offers residents immediate proximity to retail and dining options, as well as Interstate 10, providing East-West access from Jacksonville to Pensacola. Florida State University, Tallahassee Memorial Hospital, and the Tallahassee International Airport are all within 15 minutes from the Property.

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Lakeshore Heights
160 Units
1375 Pullen Road
Tallahassee, FL  32303
Closed: 12/30/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 312-unit, Latitude at West Ashley. The property, built in 1968 and 1973, is located in the heart of West Ashley, one of Charleston’s fastest growing submarkets, just minutes from Downtown Charleston and other major employment centers. Latitude at West Ashely is positioned off Sam Rittenberg Blvd and is set to continue pulling from a demographic defined by disposable income with white collar jobs. Current ownership has spent a significant amount of targeted capital infusion on the exterior and amenities, allowing the new buyer to focus on interior upgrades. Latitude at West Ashley offers new ownership the opportunity to complete and enhance the in-place value-add program to bridge the $360 avg rent gap from market competitors.
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Latitude at West Ashley
312 Units
1735 Ashley Hall Road
Charleston, SC  29407
Type:  Multifamily
Closed: 12/30/2021

The Cushman & Wakefield Multifamily Advisory Group is pleased to present this exclusive offering to purchase the Park East Manor and Escondido Manor in Las Vegas, NV. The Park East Manor is located in the growing Downtown Las Vegas submarket, and is adjacent to the world famous Las Vegas Strip, nearby the gentrifying Arts District and the Fremont Street Experience. The Escondido Manor is located in the University District submarket in East Las Vegas and is directly across from UNLV, which has a yearly rate of 31,171 students enrolled.

ESMI ranked Las Vegas at #2 on their Talent Attraction Scorecard, and Yardi ranked Las Vegas at #3, nationally, for rent growth among major metros. The Downtown Las Vegas submarket has maintained above-average rent growth through COVID, sitting at a 5.86% Y-o-Y change, whereas the University District submarket has had a 4.6% Y-o-Y change.

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Escondido Manor & Park East Manor (2 properties, 160 units)
Park East Manor
97 Units
508 San Pablo
Las Vegas, NV  89101
Type:  Multifamily
Closed: 12/30/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Station at Clift Farm, a 315-unit, 2021-built apartment community located in one of the top growth markets in the country, Huntsville, AL. Delivering its first units in June 2021 with over 35 leases signed each month in the 1st 2 months of leasing, The Station at Clift Farm offers the most upscale and sought-after finishes, amenities and features in the region. The asset is nestled in the Clift Farm development which provides future residents unmatched walkability to retail while maintaining superb connectivity to the area’s major job cores. The property will also feature a top-of-the-line technology package that is only offered at the nation’s most prestigious assets. The Station at Clift Farm offers the next investor a Class A+ asset in one of the hottest markets in the country.
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The Station at Clift Farm
315 Units
165 John Thomas Drive
Madison, AL  35758
Closed: 12/30/2021
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)
Van Mark
300 Units
6811 Old Canton Road
Ridgeland, MS  39157
Closed: 12/30/2021

The Cushman & Wakefield Florida Multifamily Advisory Group is pleased to present the 288-unit value-add offering, Canopy Creek, located in Jacksonvile, Florida.

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Canopy Creek (Kabana Creek)
288 Units
11291 Harts Road
Jacksonville, FL  32218
Type:  Multifamily
Closed: 12/29/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the completely repositioned 97-unit Terrain at Haywood apartment community located in the bustling Greenville metro area. Terrain at Haywood is situated in a desirable pocket of Greenville characterized by its young, affluent and educated demographic base as avg. HHI’s are north of $83k with a 66% white collar population and 46% have obtained a bachelor’s degree or higher. Along with being located in the highly coveted Greenville County School District, the property is also surrounded by an abundance of high-end retail (Haywood Mall & Magnolia Point) and jobs, including 4 of Greenville County’s largest employers within a 5-mile radius. Built in 1983 and repositioned in 2018, Terrain at Haywood has undergone major renovations to both the interior and exterior ($2M+) as all units have been renovated with top-of market finishes and all common areas and amenity spaces have been thoughtfully curated and detailed with modern touches.
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Terrain at Haywood
97 Units
48 McPrice Court
Greenville, SC  29615
Type:  Multifamily
Closed: 12/29/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is excited to present Modera Prominence, a Core multifamily asset in an irreplaceable location within Atlanta. As a true trophy asset, Modera Prominence is the epitome of luxury within Atlanta’s most affluent submarket, Buckhead. The strategic North Buckhead positioning provides immediate access to a plethora of highly acclaimed restaurants and retail, while having backdoor access to Chastain Park and Central Perimeter. The property boasts premier amenities with expertly executed interiors, attracting residents with average household incomes of $230K+. Furthermore, Modera Prominence has proven out 8.6% effective rent growth since June while rapidly approaching stabilization.
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Modera Prominence
318 Units
3699 Lenox Road NE
Atlanta, GA  30305
Type:  Multifamily
Closed: 12/28/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Gates at Summerville, a 232-unit apartment community located in bustling Summerville, South Carolina. This asset sits immersed in one of the most desirable submarkets in Charleston. With 66% white collar population, an avg. HHI set to eclipse $105k in 2025, access to the #1 school district, and in close to proximity to major employment nodes, Gates at Summerville is primed to benefit from this windfall. Built in 1979, this property provides investors with the opportunity to acquire a well maintained asset primed for a strategic value add program. Through a $9,200/unit renovation focused on interior revitalization and the addition of washers/ dryers new ownership can command monthly rent premiums in excess of $280. This represents a 26% return on investment.
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Gates at Summerville
232 Units
1225 Boone Hill Road
Summerville, SC  29483
Type:  Multifamily
Closed: 12/23/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 216-unit Lakeside & Lakeview apartment community located in Valdosta, Lowndes County, Georgia. This portfolio is situated in the highly desirable Northeast sector, providing unmatched access to major economic drivers and top retail corridors including Publix, Starbucks, Target, and Home Depot. Built in 1973 & 1980, Lakeside & Lakeview represent an outstanding opportunity to invest in one of Valdosta’s top growth areas as well as a proven value-add story with current renovations achieving premiums of $100+, offering additional upside of $200 premiums with fully elevated units.
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Lakeside & Lakeview (2 properties, 216 units)
Lakeside
192 Units
1718 Northside Drive
Valdosta, GA  31602
Closed: 12/23/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 216-unit Lakeside & Lakeview apartment community located in Valdosta, Lowndes County, Georgia. This portfolio is situated in the highly desirable Northeast sector, providing unmatched access to major economic drivers and top retail corridors including Publix, Starbucks, Target, and Home Depot. Built in 1973 & 1980, Lakeside & Lakeview represent an outstanding opportunity to invest in one of Valdosta’s top growth areas as well as a proven value-add story with current renovations achieving premiums of $100+, offering additional upside of $200 premiums with fully elevated units.
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Lakeside & Lakeview (2 properties, 216 units)
Lakeview
24 Units
1817 Northside Drive
Valdosta, GA  31602
Closed: 12/23/2021
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Admiral Pointe & Westwood Landing (2 properties, 228 units)
Admiral Pointe
132 Units
100 Redwood Circle
Pensacola, FL  32506
Type:  Multifamily
Closed: 12/22/2021
Sold
Southside Panhandle Portfolio (4 properties, 302 units)
Briarwood
80 Units
2203 Beck Avenue
Panama City, FL  32405
Closed: 12/22/2021
Sold
Southside Panhandle Portfolio (4 properties, 302 units)
Callaway Bay
60 Units
1406 S Berthe Avenue
Panama City, FL  32404
Closed: 12/22/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 76-unit Chapman Pointe apartment community located in Dallas, North Carolina (Gastonia). Built in 1999, the property is situated just north of the newly widened I-85, US-321 Interchange, and is poised to benefit from the rise in population anticipated from the infrastructure improvements. Gaston County has emerged as a location of choice for foreign investments in advanced manufacturing, serving as the key driver for some of the strongest rent gains in the metro. The growing demand of Gastonia paired with muted supply in 2020 poises the property for consistent returns and an opportunity to boost annual NOI by $160,000 through continuing the in-place value add program (14% renovated).
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Chapman Pointe
76 Units
500 Chapman Pointe Circle
Dallas, NC  28034
Closed: 12/22/2021