The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 288-unit Northcliffe Forest apartment community located in Winston-Salem, NC. This asset is situated one mile northwest of one of the area’s top employers and higher education facilities, Wake Forest University, in the desirable North Winston-Salem submarket. Built in 1988, Northcliffe Forest presents an opportunity to invest in a quality asset that has received $2.6M in renovations since 2019. With a proven value-add program where renovated units are achieving $113 over classic units, incoming investors can increase NOI by over 30% by completing this initiative.
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Northcliffe Forest
288 Units
2030 Northcliffe Drive
Winston-Salem, NC  27106
Type:  Multifamily
Closed: 12/28/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 124-unit Sedgefield Square apartment community located in Greensboro, NC. This asset is situated in South Greensboro in the main retail hotspot, just minutes away from Wendover Place and other high-end destinations, as well as in close proximity to the recently completed 840 urban loop providing access to the MSA’s top employers. Built in 1987 and minimally renovated, Sedgefield Square is a quality asset that offers incoming investors significant growth opportunity through both organic rent growth and value-add potential. After completion of an interior renovation program, investors can grow effective rents by $159+ and increase annual revenue by 30%+.
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Sedgefield Square
124 Units
4215 Bernau Avenue
Greensboro, NC  27407
Type:  Multifamily
Closed: 12/28/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Boracay Cove, an 86-unit, 2023-constructed Build-to-Rent (BTR) community located in the thriving and undersupplied Pace submarket. Boracay Cove’s strategic location in the Pensacola market offers residents convenient access throughout the area via US-90 & Interstate-10. The asset is located less than 2 miles away from many major retailers such as Target and Publix. As well as being a top submarket of Pensacola, Pace has experienced 7%+ YoY population growth. Fully delivered in 2023, Boracay Cove offers a rare unit mix of 4 & 5 BR detached single family homes with large floorplans (1,741 avg SF). Lease up performance is outstanding as Boracay Cove has experienced an average of 20 leases per month in May/June. Boracay Cove offers new ownership an outstanding opportunity to acquire a rare high-performing BTR asset.
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Boracay Cove
86 Units
4765 Malay Circle
Pace, FL  32571
Closed: 12/20/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 176-unit Hunter's Run apartment community located in Macon, Bibb County, Georgia. This asset is situated in the highly-coveted West Macon submarket. Built in 2001, Hunter's Run represents and outstanding opportunity to invest in a property that has nearly original interiors, allowing for new ownership to achieve $210 rent premiums through a value-add program. This property has undergone $800K of exterior and interior capital expenditures which include all new roofs, siding tune-up, pool enhancements, and interior renovations. Hunter's Run benefits from direct access to I-475 (1.5 miles), top retail including Publix, Walmart, Sam's Club, Kroger, Aldi, Chick-fil-A, the $100M Macon Mall renovation project, as well as proximity to 57K+ jobs.
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Hunter's Run
176 Units
6001 Thomaston Road
Macon, GA  31220
Closed: 12/20/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 188-unit Stewart’s Mill apartment community located in Douglasville, Douglas County, Georgia. This asset is situated in the desirable I-20 West pocket, flush with strong economic drivers, and is less than one mile southwest of Arbor Place Mall, and just nine miles west of the Fulton Industrial Blvd.’s thriving industrial employment base. Built in 1988, Stewart’s Mill offers an outstanding opportunity to invest in an ideal value-add program achieving average premiums of $167+.
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Stewart's Mill
188 Units
3421 W. Stewart Mill Road
Douglasville, GA  30135
Type:  Multifamily
Closed: 12/19/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 200-unit Flint River apartment community located in Jonesboro, Clayton County, Georgia. This asset is embedded in south Atlanta’s surging aerotropolis industrial and logistics mecca with easy interstate access to key employment centers along the strategic I-75 corridor. Built in 1971 and renovated in 2016, Flint River offers an outstanding opportunity to invest in a well-designed, all 2-3BR asset with proven value-add potential.
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Flint River Apartment Homes
200 Units
240 Flint River Road
Jonesboro, GA  30238
Type:  Multifamily
Closed: 12/18/2023
1. LOCATION AND VISIBILITY
With its signature blue screening cap adorning the top of the building, 110 N. Main is an iconic landmark within the Dayton CBD and a short walk to popular destinations including RiverScape Metro Park along the Great Miami River, Day Air Ballpark (home of the Dayton Dragons minor league baseball franchise), Courthouse Square, and the Benjamin & Marian Schuster Performing Arts Center

2 . SPECIAL IMPROVEMENT DISTRICT
110 N. Main benefits from being located within the Downtown Dayton Special Improvement District which partners with Downtown Dayton Partnership (DDP) to implement its service plan approved by a majority of downtown property owners. The DDP serves these property owners by working on five agreedupon areas: strategic planning and advocacy, economic development, marketing & communication, street vibrancy & creative placemaking, and clean and safe services.

3. OPPORTUNITY ZONE
110 N. Main is located within an Opportunity Zone. Added to the US tax code as part of the Tax Cuts and Jobs Act in December 2017, the goal of the Opportunity Zone program is to incentivize long-term capital investment in designated areas to promote economic development and job creation, specifically through the reallocation of capital gains

4. PREMIER HEALTH TENANCY
Anchored by Premier Health Partners (Moody’s A3), the dominant health system in the Greater Dayton region, the cash flow provided by their tenancy is predictable and secure.

5. ACCESS
The property’s location within the Dayton Central BusinessDistrict has nearly immediate access to I-75, providing quick and convenient access for tenants and guests

6. REPLACEMENT COST
The opportunity exists to acquire a Class A office tower at substantially below replace cost. Based on the expected occupancy of approximately 104,000 RSF and with the majority of the available space on the upper floors, the ability to acquire the property at a fraction of replacement cost gives an investor the flexibility to increase cash flow through the lease up of the available space or to convert a large portion to an alternative use, or some combination thereof.

7. UNIVERSITY IMPACT
With the University of Dayton a few miles to the south, Wright State University approximately 10 miles to the northeast and Sinclair College within the CBD, the proximity of each of the universities to the Dayton CBD has benefited both the city and a variety of companies in the region.
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110 N Main
   
110 N Main Street
Dayton, OH  45402
Closed: 12/15/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Northway at Davis Mills, a 35-unit apartment community located in Gastonia, NC. This asset is situated in close proximity to downtown Gastonia, in the booming industrial I-85 corridor west of Charlotte, NC. Built in 1974 and 2003, Northway at Davis Mills represents an outstanding opportunity to invest in an expanding Charlotte suburb. With two units renovated, the property offers $400+ headroom to competitors following the completion of the value-add program. Recent capital infusions into downtown continues to propel the Gastonia submarket as a increasingly ideal area for investment.
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Northway at Davis Mills
35 Units
1201 Butler Street
Gastonia, NC  28054
Closed: 12/15/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Pointe at St. Marks, a 183-unit apartment community located in the rapidly expanding city of Burlington, NC. This desirable pocket of Burlington boasts high average HHI ($96K), soaring home values (35% average YOY), and the highest effective rents in the market (Q4 2022). Situated between I-40/I-85 and US Hwy 70, the asset is surrounded by Burlington’s best retail. The submarket’s major employers, including LabCorp, Alamance Regional Health Center, and Elon University, are within minutes of the property. Built in 2022, The Pointe at St. Marks offers a terrific opportunity to invest in the Carolina Core, a region that is exploding with industry and innovation. The property has performed well during the first stage of lease up, averaging 14 leases per month in 2022’s prime leasing season. With this year’s peak leasing season approaching, The Pointe at St. Marks is primed to increase rents +$60 to close the gap with average rates and highest proven rates, accelerate leasing velocity, and stabilize. This asset represents an outstanding opportunity to acquire a premier asset that offers a unique multipurpose vacant space.
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The Pointe at St. Marks
183 Units
1172 St Marks Church Rd
Burlington, NC  27215
Type:  Multifamily
Closed: 12/15/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Main Street Lofts, a newly constructed suburban community comprising 266 units strategically located in Mansfield, Texas. Main Street Lofts is an institutional-quality asset, boasting top-of-the-market unit and community features in one of the fastest-growing suburbs in Dallas-Fort Worth. The property is nearing stabilization, achieving robust lease trade-outs with an average increase of $241 in effective rent. Furthermore, Mansfield’s rapidly expanding population, thriving job market, and increasing home prices are poised to drive rental demand. With a projected economic activity exceeding $650 million, the area exhibits limitless potential for future growth as well. Situated in the center of DFW, Main Street Lofts offers exceptional accessibility to premier job nodes and entertainment venues, with over 2.15 million jobs within a 30-minute drive. The property is walkable to Town Park, Walnut Creek Linear Trail, and Downtown Mansfield, featuring a variety of restaurants and shops. Main Street Lofts is primed for long-term sustainability, as the opportunity to drive rent growth establishes a solid foundation for future prosperity
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Main Street Lofts
266 Units
715 N. Main Street
Mansfield, TX
Closed: 12/13/2023

The Cushman & Wakefield Florida Multifamily Advisory Group is pleased to present the 312-unit student housing conversion opportunity located in Gainesville, Florida.

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The Pavilion on 62nd
312 Units | 990 Beds
1000 SW 62nd Boulevard
Gainesville, FL  32607
Closed: 12/12/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 194-unit Equinox at Knight apartment community located in Fayetteville, Fayette County, Georgia. This asset is situated between the I-75 and I-85 South corridors in the supply-constrained Southern Crescent of Atlanta, where industrial activity continues to boom while multifamily development has stagnated. Equinox at Knight is less than 15 minutes from major employer Trilith Studios and the Town at Trilith, a newly built live/work/play community with homes from $500K to $2.5M. A new owner can either renovate the remaining 21% classic units for $150 premiums or elevate 100% of the property to an elite finish level to compete with newer assets. Built in 1988, Equinox at Knight offers an outstanding opportunity to invest in a proven value-add story in a growing, historically undersupplied submarket of metro Atlanta.
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Equinox at Knight
194 Units
100 Knight Way
Fayetteville, GA  30214
Type:  Multifamily
Closed: 12/11/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of 501 Estates, a 270-unit apartment community in Durham, North Carolina. 501 Estates is in a premier pocket of Durham that is bolstered by robust submarket fundamentals and a stellar tenant base. Southwest Durham’s effective rents have increased 38% since 2018 and are anticipated to grow an additional 16% through 2026. Average HHI is over $125K, 76% of the population is white collar, and 66% have graduated with a bachelor’s degree or higher. Ideally situated near Durham-Chapel Hill Blvd, the asset has streamlined access to the plethora of retail options that line the throughfare as well as 65,000 Eds & Meds jobs stemming from Duke University (6 minutes) and UNC Chapel Hill (14 minutes), two tier I educational institutions with esteemed healthcare systems. Additionally, a location less than 10 minutes from I-40 and I-85 provides residents a direct connection to the 500K+ Triangle Market jobs that are within a 30-minute commute. Built in 2001, 501 Estates offers a picturesque setting with mature foliage set on 30+ unique, park-like acres and a top-of-the-market amenity set including a brand new 3,000 SF free standing gym. The asset is distinctive from Class A and B product in the submarket as townhome (2-car garage) and cottage (1-car garage) style units comprise nearly 35% of the unit mix. New ownership has the opportunity to leverage an extremely unique, core plus value-add asset in a sought-after location of the Research Triangle. Proximate comparable assets demonstrate $200+ headroom that can be closed through completion of a proven renovation program and mark-to-market leasing.
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501 Estates
270 Units
240 Ivy Meadow Lane
Durham, NC  27701
Type:  Multifamily
Closed: 12/4/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Myrtle Landing, a 144-unit townhome community located in the rapidly-growing city of Wilmington, NC. Situated on a sprawling 50-acre site with tranquil pond views, the low-density (2.84 Units/AC) asset features high-end coastal-inspired design, expansive floorplans and an unrivaled amenity package including a full chip-and-putt, brand-new pickle ball court, multiple ponds and community gardens. Homes in the submarket are selling in the millions, allowing Myrtle Landing to act as an excellent rental alternative for the growing number of residents priced out of home ownership. The region has seen considerable population growth in recent years while new supply has lagged, allowing consistent rent growth and steady occupancy. Myrtle Landing’s long-term desirability is bolstered by its increasingly affluent micro-location ($150K+ Avg. HHI On-Site) and seamless access to the city’s top amenities and employers via adjacent Highway-421. Nearby rent comps including Grand View and Cottages at Riverlights provide up to $1,000 in headroom, highlighting incoming ownership’s outstanding opportunity to acquire one of the market’s highest-quality assets, offering a clear path to grow rents significantly through a mark-to-market leasing strategy.
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Myrtle Landing
144 Units
7220 Myrtle Grove Road
Wilmington, NC  28409
Type:  Multifamily
Closed: 12/1/2023

Best Product in Vibrant Walkable Location

Promenade at Founders Square stands out as the premier offering in its vicinity, boasting top-tier finishes and luxurious amenities that elevate the living experience. The vibrant location adds to the appeal, with convenient on-site retail options and adjacency to the popular Founders Square Park.

6.4% Cap Rate with Impressive Demand

The property is being offered at a compelling 6.4% cap rate. Furthermore, the property showcases remarkable demand as it is currently 100% leased with a waitlist of prospective tenants. This signifies a high level of interest and a positive market outlook for the property.

Northwest Indiana Employment & Amenities

The Northwest Indiana region is rich with abundant employment opportunities. Residents of Promenade at Founders Square enjoy convenient access to the job market in the Chicago area as well as the employment opportunities available in northwest Indiana.

Benefits From Illinois and City Exodus

Nationally there is a migration toward the suburbs. Locally Northwestern Indiana is benefiting from a boom of new residents as people look to escape Chicago in favor of small town charms, taxes and environment.

Proximity to Chicago

Promenade at Founder's Square boasts a prime location, a mere 45-minute drive from the lively city of Chicago. Residents can effortlessly enjoy the abundant amenities, entertainment offerings, and employment opportunities that Chicago provides, all while avoiding the exorbitant costs and inconveniences of city living.

Potential to Develop 60 Additional Units

The acquisition of land adjacent to Promenade at Founder's Square presents a promising opportunity for the development of 60 additional units. Two additional parcels of land are currently available for purchase at a price of $550K. Importantly, the site is already properly zoned and prepared, streamlining the development process.

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Promenade at Founders Square
304 Units
2540 Promenade Way
Portage, IN  46368
Closed: 11/30/2023

LONG TERM OUT OF STATE OWNER | HUGE UPSIDE

Located out of state, the seller has owned and self-managed Quail Run for more than 25 years as their sole property in Columbus. A new owner will bring a fresh perspective and vision, and can increase rents both organically and through completion of property enhancements.

OFFERED AT $102K PER UNIT | 6.2% T-3 CAP RATE

The asset is offered at a low basis of $102K per unit with a very attractive 6.2% trailing cap rate. Without completing any renovations, the year one cap rate is 7.0%.

IMMEDIATE OPERATIONAL UPSIDE

Quail Run’s current rents are up to 15%+ under market and the owner isn’t currently charging back for water, sewer or trash. A new owner can raise rents immediately and begin charging utility reimbursement on new leases and renewals. Trailing expenses are also higher than industry standards and can be reduced by strong management.

PRIME RENOVATION POTENTIAL

Quail Run is a desirable low density property with mature landscaping, and is well positioned for comprehensive property enhancements. All windows, roofs and siding have been replaced and are still in good condition, so a new owner can focus on unit and amenity upgrades, with a potential $130+ avg. rent premium. An inconsistent renovation has been completed on 107 units; 102 units were partially renovated and 5 units were fully renovated.

EXCEPTIONAL COLUMBUS LOCATION

Home of the global power tech innovator Cummins, Columbus is #1 in the U.S. for industrial engineers and is a top manufacturing hub. Indianapolis and Louisville are easily accessible from Interstate 65, just west of Columbus. Well-known as an architectural mecca and one of the best cities in the world for public art installations, thousands of visitors flock to Columbus each year.

432-UNIT PORTFOLIO OPPORTUNITY

Quail Run can be purchased alone, or as a portfolio with Fountainhead—176 units on the north side of Indianapolis. The acquisition of both properties totals 432 Units.

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Quail Run - Columbus
256 Units
1182 Quail Run Drive
Columbus, IN  47201
Type:  Multifamily
Closed: 11/30/2023

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Presley Uptown, a 230-unit community located in the heart of Charlotte’s CBD. Built in 2016, the Class-A asset is situated at the crossroads of the city’s most sought-after neighborhoods, providing outstanding access to Charlotte’s top lifestyle amenities and walkability to more than 135k jobs in the CBD. The premier location also offers immediate access to The Pearl, Charlotte’s new medical innovation district bringing 5,500 new jobs and 3,500 new medical students just next door. Presley Uptown’s accretive assumable debt offers positive leverage day one with a 3.25% rate and 6 years IO remaining.

Furthermore, mid-rise competitors in the submarket offer up to $600 in headroom, ideally positioning Presley Uptown to capture significant rent gains while remaining at a discount to newly delivered high-rise supply ($3.25/SF). Incoming ownership will have the outstanding opportunity close the substantial rent delta to competitors by building upon the property’s existing value-add scope and completing an enhanced, high-end renovation program. Presley Uptown represents a rare opportunity to invest in one of Charlotte’s best-located assets, offering immediate upside and exceptional long-term growth fundamentals, propelled by the neighboring delivery of Charlotte’s first 4-Year Medical School and Innovation District.

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Presley Uptown
230 Units
900 East Stonewall Street
Charlotte, NC  28204
Type:  Multifamily
Closed: 11/16/2023
Sold
Elston Point
44 Units
374 Elston Rd
Lafayette, IN  47909
Closed: 11/8/2023
Sold
Oaks of Eagle Creek
632 Units
5483 Holly Springs Drive
Indianapolis, IN  46254
Type:  Multifamily
Closed: 11/7/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is excited to present the exclusive listing of The Regency at Johns Creek Walk, a 193-unit institutional multifamily asset in the thriving city of Johns Creek. This rare opportunity is ideally positioned in Johns Creek—Georgia’s wealthiest city with the highest multifamily barriers to entry in the MSA. In addition to strong demographics ($183K average household income within 1 mile of the asset), Johns Creek boasts one of Georgia’s best school districts (9/10 average assigned school rating). The Medley, Johns Creek’s new town center development (opening 2025), will feature 200K+ SF of retail and entertainment and 110K+ SF of office spanning across 43 acres and is within 0.5 miles of The Regency at Johns Creek Walk. The property showcases a well-considered and low-density site with a combination of conventional units and townhomes. This asset is perfectly positioned to achieve accelerated rent growth through unit upgrades. Furthermore, The Regency at Johns Creek Walk has experienced an average of 10% on new lease trade outs.
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Regency at Johns Creek Walk
193 Units
11134 Medlock Bridge Road
Johns Creek, GA  30097
Type:  Multifamily
Closed: 11/6/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 352-unit The Parc at 1875 apartment community located in College Park, Clayton County, Georgia. This asset is situated in the high-demand Airport/South Atlanta industrial submarket. The property boasts strong occupancy and organic rent growth, with almost 100% classic units ready for next-level upgrades. Built in 1988, The Parc at 1875 offers an outstanding opportunity to acquire a cash-flowing asset with value-add upside far below replacement cost.
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The Parc at 1875
352 Units
1875 E. Pleasant Hill Road
College Park, GA  30349
Type:  Multifamily
Closed: 11/6/2023
Sold
Flats at Fishers Marketplace
306 Units
9588 Ambleside Dr.
Fishers, IN  46038
Closed: 11/1/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Ansley at Town Center, a 358-unit apartment community located in the affluent submarket of Evans, Columbia County, Georgia. Built in 2009 and 2012, Ansley at Town Center offers an opportunity to invest in a unique asset that combines scale, a desirable townhome & garden style hybrid, open-concept floor plans, and proven value-add. New ownership can continue a recent injection of $3.3M+ in property improvement to provide quality product for the Columbia County market with unmatched access to jobs, retail, top incomes, and best-in-market school district. Augusta’s booming economy is supported by robust market fundamentals and recent job announcements that include Solvay Specialty Polymers, the $2B renovation of Fort Gordon, and new Savannah River Nuclear Solutions construction with 2,500+ trade workers expected.
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Ansley at Town Center
358 Units
1000 Alder Way
Evans, GA  30809
Type:  Multifamily
Closed: 10/30/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Fidelis Grand Central, 317-units located within a Johnson Master-Planned Community in Conroe, Texas. Situated at the heart of the rapidly-expanding northern corridor of the Houston MSA, and only minutes away from I-45, residents enjoy outstanding access to over 180,000 jobs in the immediate area, as well as an abundance of lifestyle amenities. Built in 2022, Fidelis Grant Central represents an outstanding opportunity to invest in a newly built asset in an impressive submarket, primed to benefit from immediate income growth through a mark-to-market strategy.
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Fidelis Grand Central
317 Units
171 Town Park
Conroe, TX  77304
Closed: 10/27/2023