The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 286-unit 800 Tower City Club high rise apartment community located in Louisville, Jefferson County, KY. This asset is situated in Downtown Louisville, just 1 mile from the Louisville Medical District with over 25K jobs. Fronting I-65, 800 Tower City residents have access to Louisville’s main artery. With over $43M invested in the asset between 2015-2021, the property features luxury amenities and interior finishes. The property is the only high rise dedicated to multifamily in Kentucky and boasts breath taking views of Downtown Louisville. Built in 1974 and completely renovated, 800 Tower City Club represents an outstanding opportunity to invest in a turn-key asset in Downtown Louisville with upside remaining.
800 Tower City Club
286 Units
800 S 4th Street
Louisville, KY  40203
Closed: 5/31/2023


Devonshire Gardens (139 units) and Devonshire Place (106 units) must be purchased together. They can also be purchased with Harrison Point (342 units) and Aura (125 units) in Indianapolis, and Tuscany Bay (96 units) in Lawrenceburg for a total portfolio of 808 units, offering instant economies of scale.


The majority of windows and patio doors were replaced from 2012-2015 at both properties. The exteriors are mostly brick and have mature landscaping with a neighborhood feel. Both properties have very desirable, large townhome units.


A total of 100 units have already been upgraded and are achieving premiums of $70-$100+. Upgrading the remaining 145 units, as well as building exteriors would achieve additional revenue. Average rents are also below competing properties.


Both properties are close together and are walkable to adjacent grocery stores and abundant retail on Green River Road. Deaconness Gateway Hospital and Ascension St. Vincent Evansville Hospital are a short drive. Interstate 69 is just two miles south of the properties.

Devonshire Gardens & Devonshire Place
245 Units
815 Erie Avenue
Evansville, IN  47115
Type: Residential
Closed: 5/30/2023

The Cushman & Wakefield Florida Multifamily Advisory Group is pleased to present Parkway Square & Tally Square, a 505-unit, two-property value-add opportunity, located in Tallahassee, Florida.

Parkway Square & Tally Square (2 properties, 506 units)
Parkway Square
278 Units
1112 S. Magnolia Drive
Tallahassee, FL  32301
Closed: 5/30/2023

The Cushman & Wakefield Florida Multifamily Advisory Group is pleased to present Parkway Square & Tally Square, a 505-unit, two-property value-add opportunity, located in Tallahassee, Florida.

Parkway Square & Tally Square (2 properties, 506 units)
Tally Square
228 Units
2855 Apalachee Pkwy
Tallahassee, FL  32301
Type: Residential
Closed: 5/30/2023

Unique Property with large single-level floor plans

Aura offers residents a large single-level floor plan layout. One bedrooms offer 1,000 SF+ of spacious living and the average unit size is 1,200 SF+. All units have large patios and balconies, and first floor units have a wrought iron enclosed patio. The full amenity set features a fitness facility, pet park (new equipment) and pool (recently refurbished with new pool equipment and poured new deck around pool).

Near Major Employment and Amenities

Numerous major employment centers are within a 15-minute drive of the property. Aura is also very close to Marian University (1,115 emp.), Butler University (500 emp.), Indianapolis Motor Speedway (400+ emp.), Newfields Art Museum & Nature Park (300+ emp.) and the popular 5,300-acre Eagle Creek Park & Reservoir.

Close Proximity to Downtown Indy

Downtown Indianapolis is a quick 10 mile drive from Aura. Downtown is the main employment center and offers countless opportunities for dining, entertainment, sports, festivals and night life.

6.4% Cap Rate - Year One with Additional Upside

The current owner has spent more than a year cleaning up the rent roll and completing evictions for residents with non-payment. The new owner can achieve a 6.4% cap rate in year one by simply normalizing bad debt to 2%. By upgrading classic units, revenue can be increased by an additional $300K annually. Fully upgraded units will likely command a $200+ Premium.

808 Unit Portfolio Offering

Aura can be purchased individually, or together with Harrison Point (342 units) in Indianapolis, Tuscany Bay (96 units) in Lawrenceburg, and Devonshire Gardens (139 units) and Devonshire Place (106 units) in Evansville for a total portfolio of 808 units, offering instant economies of scale.

125 Units
3035 W. 39th Street
Indianapolis, IN  46228
Closed: 5/25/2023
The Idaho Multifamily Advisory Group of Cushman & Wakefield and Greystone are pleased to present the exclusive listing of the 40-unit River View apartment community located in Burley, Cassia County, Idaho. This asset is situated along Snake River in the sought-after neighborhood of Burley, just east of Twin Falls. The property is located one mile from I-84, giving residents convenient access to major employers and economic driver Twin Falls. Over the last 12 months, average occupancy at River View has been 98%. Built in 2007, River View gives a new investor the opportunity to acquire an LIHTC asset with potential upside in a minimal supply submarket.
River View
40 Units
256 West 3rd North
Burley, ID  83318
Closed: 5/24/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Riverwood Apartments, a 206-unit apartment community located in the rapidly expanding city of Wilmington, North Carolina. The 2022-built asset is strategically located in one of the East Coast’s fastest growing cities, seeing 37% population growth since 2010 alone. As population continues to swell, rents in the area are skyrocketing, with 25% rent growth expected by 2027. The property’s long-term desirability is bolstered by its increasingly affluent micro location ($82k+ Avg. HHI) and proximity to the city’s major entertainment & employment centers, including more than 200 new six-figure jobs at the nearby Live Oak Bank Headquarters. Riverwood has demonstrated excellent pace during lease-up thus far, averaging 24 move-ins per month from August 2022 through January 2023, while simultaneously escalating rental rates. Comprised of 42% townhomes and constructed with state-of-the-art finishes, Riverwood represents an outstanding opportunity to acquire one of the market’s top-quality assets, offering a clear path to close the $215 rent runway by signing leases at the proven rates.
206 Units
3510 Corder Drive
Wilmington, NC  28412
Type: Residential
Closed: 5/24/2023

1999 Built Property at $130k per Unit

Built in 1999, Tuscany Bay is newer than the majority of the comps, offers larger floorplans, more extensive amenities and W/D hookups in all units. Offered at $130k per Tuscany Bay is well below replacement cost and is located in a high income area with average household income of $95k+ in the one mile radius.

5.8% T-3 Actual Cap Rate & 13.2% Organic Rent Growth

Offering excellent cash flow immediately, Tuscany Bay is offered at a 5.8% T-3 Cap Rate and over a 6.5% Cap Yr 1. On the most recent 20+ leases, the property has achieved a $181/ month average increase in rent. This was achieved organically and not a result of unit upgrades.

Opportunity to Continue Upgrades & Increase Revenue

The current owner has upgraded the clubhouse and renovated 40% of the units. The remaining classic units can be upgraded to achieve additional premiums. A new owner can also provide washer/dryer machines and microwaves to charge a $40 premium and increase the Water/sewer bill back.

Easy Access to Cincinnati & Nearby Major Employers

The location of Tuscany Bay allows for easy access to all that Cincinnati has to offer. With downtown just under 30 min away, residents can access abundant employment, dining, shopping and entertainment options. The property is also conveniently located near major employers.

Purchase Individually or in 808 Unit Portfolio

Tuscany Bay can be purchased with Harrison Point (342 units) & Aura (125 units) in Indianapolis, IN as well as Devonshire Gardens (139 units) & Devonshire Place (106 units) in Evansville, IN, for a total portfolio of 808 units, offering economies of scale. The properties may also be purchased individually.

Tuscany Bay
96 Units
100 River Road
Lawrenceburg, IN  47025
Type: Residential
Closed: 5/16/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 64-unit Avondale Gardens apartment community located in Birmingham, Alabama. The LIHTC asset is situated less than 3 miles from downtown Birmingham in the highly desirable up and coming Avondale neighborhood. The asset offers residents easy walkability to Avondale’s entertainment district (0.3 miles away) where patrons can shop, eat, drink, socialize and more. Built in 2003/2004, the asset features a very attractive physical plant that is well-maintained. Avondale Gardens represents an outstanding opportunity for new ownership to acquire a well-positioned LIHTC asset.
Avondale Gardens
64 Units
4252 3rd Avenue South
Birmingham, AL  35222
Type: Residential
Closed: 5/15/2023
The Cushman & Wakefield Midwest Multifamily Advisory Group is pleased to present the exclusive listing of 32 Union, a 210-unit, 2019- built apartment community located in very desirable Hamilton County, the state's most affluent and fastest-growing county.

Acquisition of 32 Union represents an opportunity to own one of the best properties in a high-end high-growth location. The property offers everything high-income dwellers are looking for - from a luxurious amenity set and curated design finishes to a sought-after Noblesville location.


Built with amenities and interior unit finishes that cater to high income earners, 32 Union offers luxury in each residence and a comprehensive amenity set that rivals, and is often superior, to any of the nearby competitors.


Hamilton County boasts the highest income and growth metrics in the entire state. Noblesville offers a highly acclaimed school district and has experienced rapid population growth of 191% since 2010.


Located in Noblesville, a high-end suburb of Indianapolis, 32 Union offers its residents easy access to Indy, Carmel, Fishers and Westfield all within a quick drive, providing tremendous employment, retail and service opportunities.


Demonstrating the ability to grow rents, revenue at 32 Union has increased 19.7% Year-over-year. The current rental rates also trail the nearby competition by $75 - $500 allowing the new owner to continue to increase revenue.


Surrounded largely by high end single family homes and The Sagamore Golf Club, there are only a few new properties being add in this submarket of Noblesville.

32 Union
210 Units
17340 Fleming Street
Noblesville, IN  46060
Type: Residential
Closed: 5/11/2023
Cushman & Wakefield, Inc. is pleased to present the exclusive opportunity to acquire the Spectrum Apartments, a 2010 construction, core-plus, 252-unit apartment community located in the highly affluent Summerlin/Spring Valley submarket of Las Vegas, NV. This is one of the fastest growing and best performing multifamily markets in the nation (over 20% year over year rent growth), positioning the Spectrum Apartments as a limited-risk investment with superior rent growth prospects and long-term value appreciation potential.
Spectrum Apartments
252 Units
9242 W Russell Road
Las Vegas, NV  89148
Type: Residential
Closed: 5/11/2023
The Cushman & Wakefield Multifamily Advisory Group is pleased to present the exclusive listing of Burgundy Court Apartments. The community consists of 234 units including 32 - 1 Bedroom units, 140 – 2 Bedroom units and 62 – 3 Bedroom, 2-story Townhomes. Burgundy Court was built in 1967 and is located in Colerain Township, a desirable community in the northwest area of Greater Cincinnati.

Burgundy Court offers an excellent true value-add upgrade potential. Through unit renovations and adding additional property amenities, a forecast rent premium of $175 - $325 can be achieved.

Current rents at Burgundy Court are currently on average 20% below nearby competition. A new owner could operate the property as-is and enjoy strong organic growth.

The properties positioning near Rt 126, the Ronald Reagan Cross County Highway, and I-275, along with the immediate access to a myriad of retail, restaurants and top employers nearby make the property a highly desirable location for tenants.

Cincinnati’s rent growth is currently 9.5% (YOY), submarket vacancy is 4.8% and job growth is projected to be 2.6%. These fundamentals along with Cincinnati’s diverse economy make it well-positioned for both short and long-term growth.

Burgundy Court is a quality asset with an ideal unit mix including 62 sought after 3BR Townhomes. Additional growth can be achieved by adding additional amenities and cost saving opportunities such as implementing a bulk internet/cable package & energy saving LED lighting.
Burgundy Court
234 Units
3295 Rocker Drive
Cincinnati, OH  45239
Type: Residential
Closed: 5/5/2023

Attractive Cap Rates - 6.2% T-3 & 7.3% Year 1

Aspen Pointe is in excellent physical condition and offers immediate cash flow selling at a 6.2% T-3 and achievable 7.3% Year 1 Cap Rate. Historical occupancy averages 96% over the last four years.

Fully Renovated - $5.1M+ Capital Infusion

The majority of the property infrastructure has been replaced, and all units have been fully upgraded within the last seven years. Items included replacement of HVAC systems, electrical, plumbing, windows, patio doors and balconies.

Limited Nearby Competition

There is only one competing property close to Aspen Pointe. The remainder of the five competing properties are at least two miles away. This quiet property is nestled among mature landscaping and offers a neighborhood feel that rivals its limited competition.

Close to Logistics Hub, Airport & Interstates

Located on Indy’s southwest side, Aspen Pointe is close to Indy’s logistics hub with nearly 98M SF of facilities, Indianapolis Int’l Airport and significant employers such as Amazon, FedEx Hub, UPS Hub, Target Distribution Ctr., Foxconn and Nippon. Interstates I-465 (0.7 Mi.) and I-70 (1.6 Mi.) offer access to additional employment.

Value-Add Potential with Minor Enhancements

With minor enhancements to all units, and adding amenities, Aspen Pointe could be regarded as the top property among its competition.

Aspen Pointe
180 Units
5838 Mooresville Road
Indianapolis, IN  46241
Closed: 5/2/2023

The Cushman & Wakefield Florida Multifamily Advisory Group is pleased to present the 180-unit Grove at Temple Terrace community located in Temple Terrace, Florida.

Grove at Temple Terrace
180 Units
8741 Grove Terrace
Temple Terrace, FL  33617
Closed: 4/28/2023
Cushman & Wakefield, as exclusive advisor, is pleased to present a core-plus investment opportunity to acquire Advenir at Biscayne Shores, a 240-unit garden community in North Miami Beach, Florida. The property is one of only two garden assets that has been built since 2010 that is located east of I-95 in Miami-Dade County. Originally built in 2014, ownership has been in the midst of in-unit upgrades – adding quartz countertops, stainless-steel appliances, hard-surface flooring, and tile backsplashes. There is considerable upside to complete the renovations across all units. As a newly-built property it represents unique garden-style living as opposed to the other mid-rise and high-rises built in the area during the current development cycle. The property is located just off of Biscayne Boulevard, and is minutes from the major employment hubs of Downtown Miami and Aventura with over 23.6 million square feet of office space.
Advenir at Biscayne Shores
240 Units
12016 NE 16th Avenue
Miami, FL  33161
Type: Residential
Closed: 4/27/2023


River West Flats has been infused with $2.4M in capital and is now fully renovated. The renovation included 100% unit upgrades, all new windows, breaker boxes, complete elevator replacement, all new amenities, common spaces and more.


IUPUI (1.5 miles away) boasts an enrollment of 27,000+ students. 74% of the students are in-state residents with 92% of students living off campus.


The acquisition of River West Flats offers the opportunity to add new amenities and additional units. New amenities will aid in competing with downtown new construction properties nearby. Additional units could be add as developable parcels included in the sale and are located in an Opportunity Zone.


River West Flats offers a strong in-place return and immediate cash flow. The opportunity to own close to the urban core with a going-in cap rate of over 5%is increasingly rare.


Located adjacent to a huge concentration of hospitals (Riley, Eskenazi and University IU Heath) and just 1/2 mile southwest of 16 Tech, a 50-acre innovation district, River West Flats offers residents easy access to employment, retail and services.


River West Flats location allows quick access to downtown, which offers vast employment, restaurants and entertainment.

*** The adjacent Candlewood Suites Hotel is also available for sale from the same owner ***

Click here for more information

River West Flats
142 Units
1150 N. White River Parkway W. Drive
Indianapolis, IN  46222
Closed: 4/27/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the Cartersville Development Site located 38 miles northwest of downtown Atlanta in Bartow County, Georgia. This extraordinary development site, strategically situated at the busy Interstate 75/Highway 20 interchange (Exit 290), is less than 2 miles east of Georgia Highlands College Campus and Cartersville Medical Center employment hubs. The Cartersville Development Site offers potential for a multiple-phased, multifamily/mixed-use development opportunity in a high-visibility location within a growing submarket.
Cartersville Development Site
600 Units
5628 GA Hwy-20 2 Parcels: PRJ 0777471 & PRJ047126
Cartersville, GA  30121
Closed: 4/26/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 296-unit The Columns at Paxton Lane apartment community located in Lilburn, Gwinnett County, GA. This asset is situated in Southeast Gwinnett County, where vacancy has tightened and current Q2 2022 rent growth surpasses 19%, per AxioMetrics. Surrounding the property are several new developments and major employers, including the Amazon Fulfillment Center with over 5K employees. The Columns at Paxton Lane features all classic units, allowing a new investor to implement a significant value-add program. Built and owned by prolific developer ECI since its inception in 1996, The Columns at Paxton Lane represents an outstanding opportunity to invest in a true value-add product in one of the top-performing multifamily submarkets in the nation.
The Columns at Paxton Lane
296 Units
4305 Paxton Lane
Lilburn, GA  30047
Type: Residential
Closed: 4/24/2023
Brea Frisco
353 Units
12330 Research Road
Frisco, TX  75033
Type: Residential
Closed: 4/21/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is excited to present the exclusive listing of The Reserve at Sugarloaf, a 333-unit multifamily asset in Atlanta’s rapidly growing I-85 North Corridor. With direct access to 1M+ jobs, the property is strategically positioned in one of Atlanta’s strongest suburban markets and will directly benefit from Gwinnett County’s stout demographics and top-tier schools. This Core Plus asset features a thoughtful site plan with uniquely spacious floorplans, and expansive amenities. The property is primed for substantial upside through a proven renovation strategy generating a $356 blended average premium providing a clear path for long term growth. Furthermore, The Reserve at Sugarloaf has experienced robust new lease trade-outs averaging 10% gain to lease on their past 15 leases.
Reserve at Sugarloaf
333 Units
2605 Meadow Church Road
Duluth, GA  30097
Type: Residential
Closed: 4/20/2023
15 Units
3821 Central Avenue
Indianapolis, IN
Type: Residential
Closed: 4/19/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the Conyers Development Site located 25 miles southeast of downtown Atlanta in Rockdale County, Georgia. This extraordinary, bank-owned, rare development site is strategically situated a half mile from Publix, Piedmont Rockdale Hospital Medical district, schools, and new SF homes averaging $250K+. The Conyers Development Site offers unlimited commercial/residential development potential in a high-visibility location within one of the fastest growing counties in Georgia.
Conyers Development Site
65.07 Acres
900 Sigman Road
Conyers, GA  30012
Type: Land
Closed: 4/14/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is excited to present the exclusive listing of Quill, a newly built 208-unit Core multifamily asset in Atlanta’s booming Eastside submarket. Located in the dynamic Edgewood neighborhood, Quill presents a unique opportunity to acquire a thoughtfully designed asset with first class connectivity to Atlanta’s Eastside BeltLine Trail, Edgewood Retail District, and a plethora of energetic Eastside neighborhoods. The property is strategically positioned with direct access to MARTA, in an area of substantial upcoming investment and future redevelopment, driving above average rent growth. Quill has seen exceptional leasing velocity of 42 leases per month since April while increasing rents ~9% during lease-up. Additionally, Edgewood’s recently completed Transit Oriented Development with on-site retail space offers the neighborhood a central, social hub further enhancing Quill’s visibility.
208 Units
1460 La France Street NE
Atlanta, GA  30307
Closed: 4/14/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 360-unit Amber Grove apartment community located in Marietta, GA. This asset is situated in the burgeoning suburbs of Cobb County with 3.8M SF of new developments under construction and 20% year-over-year multifamily rent growth. Current ownership has spent $3.8M on capital improvements at Amber Grove and renovated about 50% of units. A new owner can generate upside by renovating the remaining 167 units. Additionally, Amber Grove has a favorable tax advantage with frozen taxes over the next two years. Built in 1973, Amber Grove represents an outstanding opportunity to invest in a value-add asset with large floor plans and low density in the highly sought-after Cobb County.
Amber Grove at Olley Creek
360 Units
2050 Austell Road
Marietta, GA  30008
Type: Residential
Closed: 4/12/2023