Cushman & Wakefield, as exclusive advisor, is pleased to present the extraordinary opportunity to acquire Icon Las Olas – an iconic 44-story residential high-rise overlooking historic Las Olas Boulevard, the Atlantic Ocean, downtown Fort Lauderdale and the New River.This coveted and irreplaceable asset opened in October 2017, and is comprised of 272 luxury residences and three top-rated restaurants: Etaru Japanese Bar + Grill, Salt Seven Modern Eatery & Lounge and IT! Italy Café.

A Trophy Residential Tower

Rising 44 stories, Icon is the tallest building in Fort Lauderdale. Suspended atop the skyline and nestled between Las Olas’ preeminent high street and the New River, Icon presents unobstructed views of the ocean, downtown and Las Olas Boulevard. An asset of this awe-inspiring height, condominium quality finish, architecture and irreplaceable location, make it a rare acquisition opportunity and the premier asset of an investment portfolio for generations as it commands the center of a major downtown.

Superior Asset Quality and Unit Sizes

Built with the most discerning residents in mind, Icon Las Olas sets a new standard of excellence. The building’s unique curvature, glass façade, and sheer height evoke feelings of opulence. All units feature floor-to-ceiling glass, interiors designed by internationally recognized Steven G., and exceptional interior finishes that include built-in Sub Zero and Bosch appliances. Average unit sizes are a remarkable 1,516 square feet, dwarfing the market average by over fifty percent.

Performance Fueled by Affluence

Icon Las Olas has performed in record setting fashion as the market enthusiastically responded to the ultra-luxury niche. The property has achieved stabilization in just over 12 months while boasting an affluent tenant base with the highest household incomes in South Florida, placing the rent to income ratios comfortably below market norms.

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Icon Las Olas
272 Units
500 East Las Olas Boulevard
Fort Lauderdale, FL  33301
Closed: 6/5/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 156-unit Reserve at Sweetwater Creek apartment community located in Austell, Douglas County, Georiga. This asset is situated along the prolific I-20 corridor in rapidly-expanding Douglas County, home to Google's massive data center and a thriving technology employment base. Built in 1988, Reserve at Sweetwater Creek offers an outstanding opportunity to invest in a strong performing asset in a high-barriers submarket with limited multifamily supply.
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Reserve at Sweetwater Creek
156 Units
99 Creekside Circle
Austell, GA  30168
Type: Conventional
Closed: 6/5/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 307-unit Riverwalk apartment community located in burgeoning Rock Hill, SC (Charlotte MSA). Embedded in the 1,008-acre, $600M master-planned development of Riverwalk along the banks of the Catawba River, the property boasts premier walkability to expanding retail and lifestyle amenities. Recently delivered in two phases (2016/2018), Riverwalk offers the rare opportunity to acquire a newly constructed asset below replacement cost, while imminent stabilization and a significant rent runway provide immediate income upside potential. In addition, Riverwalk is poised to benefit from a tightening rental environment, as minimal new supply coupled with rapid economic growth in York County's I-77 corridor will drive favorable fundamentals.
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Riverwalk
307 Units
517 Pink Moon Drive
Rock Hill, SC  29730
Type: Conventional
Closed: 6/4/2019

Stonybrook Commons is a 122-unit apartment community located on Indianapolis’ suburban east side. The property consists of an office/clubhouse and seven residential buildings situated on over 13.5 acres with ample green space and mature trees. Buildings are two-story with attractive all-brick exteriors, vinyl shutters and wood balconies. Roofs are pitched with composite shingles.

The community offers 56 Two Bedroom flats (in two floor plans) and 66 Three Bedroom flats (also in two floor plans). Units are spacious, averaging 1,022 square feet. All units include large closets, fully-equipped kitchens including dishwasher and microwave, full-size washer/dryer connections, a private patio or balcony, and an outside storage closet.

Community amenities include a clubhouse with a community room for private parties, a picnic pavilion, a playground, bike racks and an on-site laundry center. The property is also less than one mile from Grassy Creek Park, as 175 acre Indianapolis Public Park located near German Church & 30th Street.

The property is located within the respected Warren Township School system.

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Stonybrook Commons
122 Units
3036 Redskin Drive
Indianapolis, IN  46235
Type: Conventional
Closed: 6/4/2019

Cushman & Wakefield is pleased to offer ARCADIA 4127, a 258-unit, fully renovated, garden-style community located in the highly desirable Arcadia neighborhood of Phoenix, Arizona. The current owners have spent approximately $7,000,000 ($27,000 per unit) completely transforming Arcadia 4127, creating a high quality, affordable living environment in one of Phoenix’s best neighborhoods. This outstanding location offers residents immediate access to employment, shopping and dining at some of the Phoenix area’s best restaurants. The entertainment district of Downtown Scottsdale is only minutes away to the east of Arcadia 4127.

Arcadia 4127 offers residents two swimming pools, a spa, outdoor barbecue grills, a fire pit, leasing office, fitness center, two elevators, gated access, covered parking and on-site laundry facilities. Interior amenities include washer/dryers (in select units), quartz countertops, under-mount sinks, stainless steel appliances, pantries, walk-in closets, hardwood-style flooring, new lighting fixtures, upgraded carpeting in bedrooms, ceiling fans and vertical blinds. Select units feature fireplaces, private balconies/patios and views of Camelback Mountain. Arcadia 4127 has been completely renovated by the current owners, including common areas, amenities, building exterior, mechanical systems and all 258 unit interiors.

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Arcadia 4127
258 Units
4127 East Indian School Road
Phoenix, AZ  85018
Type: Conventional
Closed: 6/3/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of two perfectly primed, late-70s vintage value-add assets in metropolitan Atlanta. Retreat at Marketplace has 330 units in the rapidly expanding aerotropolis district. Ashland Lakeview is a 255-unit community embedded in more than 7M SF of industrial space and offers strategic connectivity to Emory’s ‘Eds and Meds’ corridor. This is an outstanding opportunity to invest in two high-growth submarkets positioned for immediate and long-term returns.
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Retreat at Marketplace & Ashland Lakeview (2 properties, 585 units)
Retreat at Marketplace
330 Units
3390 Fairburn Road SW
Atlanta, GA  30331
Type: Conventional
Closed: 5/31/2019

Southport offers buyers the opportunity to purchase a stable, partially renovated property in a solid B location.

Southport Crossing is located in Southport, a the well-regarded southern suburb of Indianapolis. 206 units have already been fully upgraded and demonstrate the ability to achieve higher rent. 122 units are partially renovated providing buyers with the ability to further upgrade these units and charge and additional $50 - $80 per month.

Southport Crossing is being offered free and clear.

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Southport Crossing
328 Units
1451 E Southport Road
Indianapolis, IN  46227
Type: Conventional
Closed: 5/31/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 81-unit The Square at Mason Mill apartment community located in Decatur, DeKalb County, Georgia. Situated less than two miles northeast of Emory’s booming ‘Eds & Meds’ corridor, residents enjoy backdoor access to major Atlanta employment centers, and quick connectivity to I-85 and I-285. Built in 2007 and 1972, The Square at Mason Mill features solid brick construction and classic architecture, and is primed to benefit from the continued rent growth and demand for higher finishes within the submarket.
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The Square at Mason Mill
81 Units
1130 North Jamestown Rd
Decatur, GA  30033
Type: Conventional
Closed: 5/31/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 256-unit Villas by the Lake apartment community located in Jonesboro, GA. This asset is situated in the in-fill Clayton County apartment submarket, characterized by limited new deliveries and strong organic rent growth of 44% since 2010. Given a five-mile radius, only one market rate deal has been delivered in the past 15 years. Villas by the Lake boasts an exceptional location being less than 20 minutes from Hartsfield-Jackson Atlanta International Airport and just 7 minutes from the area’s leading retail corridor, Fayette Pavilion. With demand for upgraded interiors evident at the subject property and in the submarket, Villas by the Lake is an excellent opportunity to acquire a true value-add investment well below replacement cost.
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Villas by the Lake
256 Units
1 Lakeview Way
Jonesboro, GA  30238
Type: Conventional
Closed: 5/31/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 371-unit Ashford East Village apartment community located in Atlanta, DeKalb County, GA. Atlanta is experiencing a surge in new jobs and corporate relocations, accounting for more than 26K jobs in the city-center. Via MARTA and proximity to major interstates, Ashford East Village's location within East Atlanta offers residents easy commutes to employment nodes throughout the metro. Following in the wake of the economic explosion occurring in Midtown, Old Fourth Ward, and Inman Park, the subject is located within the path of progress fueling East Atlanta's revitalization. Ashford East Village presents an opportunity to acquire a true value-add property in a submarket lacking high-quality, affordable multifamily options.
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Ashford East Village
371 Units
1438 Bouldercrest Road
Atlanta, GA  30316
Type: Conventional
Closed: 5/30/2019

Oakbrook Park Apartments, located on the desirable north side of Indianapolis, offers buyers the opportunity to purchase a stable, partially renovated property in a solid B location with the demonstrated ability to renovate units and achieve rent premiums.

The property was originally built in 1978 and has received numerous renovations and updates over the years. In 2010 / 2011, a previous owner completed over $1.3M in property renovations/upgrades. These renovations included the replacement of all windows, common area hallway upgrades, full property exterior painting, replacement of 4 roofs, addition of a new fitness facility, yoga studio and business center, clubhouse renovation, installation of a bark park and sand volleyball court, new landscaping and property signage and the updating of 153 apartment units (87 partially renovated and 66 fully renovated units).

The current owner has continued to invest in the property and spent over $1.5M since 2015 in capital improvements. A major project completed by the current owner was the conversion of a previous commercial building. This building was fully renovated and converted into 12 additional apartments. These 12 units have brand new finishes and feel like new construction product. These “new” units are highly sought after and demonstrate the demand for units with higher end finishes and higher rents. Further proving the case for continued unit upgrades, the previous owner fully renovated 66 units in 2011+/- and these units still lease for $50 - $125 more.

Oakbrook Park is being sold free and clear or with the potential to assume the existing debt (assumption NOT required).

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Oakbrook Park
256 Units
1808 Century Way
Indianapolis, IN  46260
Type: Conventional
Closed: 5/30/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of two perfectly primed, late-70s vintage value-add assets in metropolitan Atlanta. Retreat at Marketplace has 330 units in the rapidly expanding aerotropolis district. Ashland Lakeview is a 255-unit community embedded in more than 7M SF of industrial space and offers strategic connectivity to Emory’s ‘Eds and Meds’ corridor. This is an outstanding opportunity to invest in two high-growth submarkets positioned for immediate and long-term returns.
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Retreat at Marketplace & Ashland Lakeview (2 properties, 585 units)
Ashland Lakeview
255 Units
200 Summit Lake Drive
Stone Mountain, GA  30083
Type: Conventional
Closed: 5/29/2019
Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present Berkeley-Warwick Place Townhomes, two apartment communities totaling 265-units located in Richmond, VA. The Properties are well located, both adjacent to one of the Richmond metro’s largest hospitals, with access to significant employment and retail amenities within a short drive. The Properties offer additional value-add upside through the implementation of an interior unit renovation being proven out in the broader submarket with the ability to gain operational efficiencies through expense reduction. Berkeley-Warwick Place presents investors with the opportunity to acquire well located, value-add apartment communities with substantial growth prospects in the expanding Richmond economy.
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Berkeley & Warwick Place
265 Units
2231 Chalfont Drive
Richmond, VA  23224
Closed: 5/29/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of The Madison (216 units) and Southgate (429 Units) - a two-property portfolio in the affluent community of south Greenville, NC. Built in 1992/1997, and renovated in 2014/2015, The Madison offers an outstanding opportunity to invest in a quality asset at an attractive basis with organic rent and ancillary income growth potential. Completed in 1978/1987 and also renovated in 2014/2015, Southgate provides the chance to acquire a property with proven value-add upside bolstered by $4 million of recent capital improvements. A strong demographic base, proximity to Greenville’s major economic centers, and a diminishing supply pipeline ideally positions the assets in a market with favorable fundamentals to drive long-term growth potential.
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The Madison & Southgate (2 properties, 645 units)
Southgate
429 Units
14 Merry Lane
Greenville, NC  27858
Closed: 5/29/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of The Madison (216 units) and Southgate (429 Units) - a two-property portfolio in the affluent community of south Greenville, NC. Built in 1992/1997, and renovated in 2014/2015, The Madison offers an outstanding opportunity to invest in a quality asset at an attractive basis with organic rent and ancillary income growth potential. Completed in 1978/1987 and also renovated in 2014/2015, Southgate provides the chance to acquire a property with proven value-add upside bolstered by $4 million of recent capital improvements. A strong demographic base, proximity to Greenville’s major economic centers, and a diminishing supply pipeline ideally positions the assets in a market with favorable fundamentals to drive long-term growth potential.
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The Madison & Southgate (2 properties, 645 units)
The Madison
216 Units
2221 Hyde Drive
Greenville, NC  27858
Type: Conventional
Closed: 5/29/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 512-unit Midtown Montgomery Portfolio located in the desirable East submarket of Montgomery, Alabama. East Montgomery offers direct connectivity to Downtown, and is producing the bulk of Montgomery’s development. The metro experienced strong economic growth in 2016, bringing in $411M of capital investment and 2,000 new jobs. These assets are surrounded by some of the metro’s primary job/retail cores, such as AUM, Baptist Health, and The Shoppes at Eastchase. With value add potential across the board and strong locations, the Midtown Montgomery Portfolio is in a prime position for growth for the next investor.
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Midtown Montgomery Portfolio (2 properties, 512 units)
Arbor Station
288 Units
2495 Meadow Ridge Lane
Montgomery, AL  36117
Type: Conventional
Closed: 5/24/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 144-unit, Hawthorne Willowbrook apartment community. Delivered in 2000, Hawthorne Willowbrook is located on the cusp of Greenville’s "Industry Triangle" with several of the county’s largest employers (10,500+ jobs) located just minutes from the property. Residents of Hawthorne Willowbrook enjoy seamless access to the premier retail in an area defined by an exceptional demographic base, including an average HHI of over $89,000 within a 3-mile radius. Bolstered by steady operations, the property is poised to bridge the average +$180 delta in effective rents to market competitors through a multi-pronged, proven value-add initiative.
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Hawthorne Willowbrook
144 Units
130 Willow Forks Drive
Simpsonville, SC  29681
Type: Conventional
Closed: 5/24/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 512-unit Midtown Montgomery Portfolio located in the desirable East submarket of Montgomery, Alabama. East Montgomery offers direct connectivity to Downtown, and is producing the bulk of Montgomery’s development. The metro experienced strong economic growth in 2016, bringing in $411M of capital investment and 2,000 new jobs. These assets are surrounded by some of the metro’s primary job/retail cores, such as AUM, Baptist Health, and The Shoppes at Eastchase. With value add potential across the board and strong locations, the Midtown Montgomery Portfolio is in a prime position for growth for the next investor.
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Midtown Montgomery Portfolio (2 properties, 512 units)
Stratford Village
224 Units
2000 London Town Lane
Montgomery, AL  36117
Type: Conventional
Closed: 5/24/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 288-unit, Ashton Oaks apartment community located in Winston-Salem, NC. The asset is situated one mile from the city’s top employer, Wake Forest University, in the desirable North Winston-Salem submarket, boasting a renter population of 84%. Built in 1988, Ashton Oaks offers an outstanding opportunity for an impactful 38% boost to NOI through multiple revenue streams including a water/sewer submetering program and a proven value-add initiative.
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Ashton Oaks
288 Units
2030 Northcliffe Drive
Winston-Salem, NC  27106
Type: Conventional
Closed: 5/23/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of The Mills at 601 and Havenly Park Villas, 192-units located in the rapidly-expanding and sought-after submarket of Prattville, Alabama. Prattville has benefited from strong schools and its proximity to Alabama’s capital city, Montgomery. Both properties are in the 3-year run-off period of the LIHTC program and are poised to generate robust returns upon exit. Built between 1995-97, the properties present an outstanding opportunity to invest in value-add assets through LIHTC exit and strategic positioning within a budding submarket.
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The Mills at 601 & Havenly Park Villas (2 properties, 192 units)
Havenly Park Villas
56 Units
2002 Summit Parkway
Prattville, AL  36066
Type: Conventional
Closed: 5/23/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 216-unit, Heron Lake apartment community. Delivered in 2008, Heron Lake is located in the heart of northern Richland County’s path of growth. Residents of Heron Lake enjoy seamless access to the premier retail and employment in an area defined by an exceptional demographic base including an average HHI of over $84,000 within a three-mile radius. Bolstered by large floor plans and outstanding amenities, the property is poised to bridge the +340 delta in effective rents to market competitors through a market-supported value-add initiative.
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Heron Lake
216 Units
1340 North Brickyard Road
Columbia, SC  29223
Type: Conventional
Closed: 5/23/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of The Mills at 601 and Havenly Park Villas, 192-units located in the rapidly-expanding and sought-after submarket of Prattville, Alabama. Prattville has benefited from strong schools and its proximity to Alabama’s capital city, Montgomery. Both properties are in the 3-year run-off period of the LIHTC program and are poised to generate robust returns upon exit. Built between 1995-97, the properties present an outstanding opportunity to invest in value-add assets through LIHTC exit and strategic positioning within a budding submarket.
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The Mills at 601 & Havenly Park Villas (2 properties, 192 units)
The Mills at 601
136 Units
601 McQueen Village Road
Prattville, AL  36066
Type: Conventional
Closed: 5/23/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 240-unit, 1990-built York Ridge apartment community located in one of Charlotte’s fastest growing submarket. Situated off of a major thoroughfare and bound by an abundance of employment and retail destinations, York Ridge provides a desirable, connected suburban location. York Ridge is perfectly positioned to capitalize on Charlotte’s prolific economic development and North Pineville’s projected rent growth providing new ownership the opportunity to expand upon the property’s exceptional operations and high occupancy levels. This superb asset provides new ownership the opportunity to boost revenue via cosmetic value-add initiatives to meet submarket competitors.
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York Ridge
240 Units
13001 York Ridge Drive
Charlotte, NC  28273
Type: Conventional
Closed: 5/23/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 272-unit Bedford Park apartment community located in northeast Atlanta, DeKalb County, Georgia. This asset is situated along the prolific I-85 northeastern corridor and is strategically surrounded by Atlanta’s largest employment centers. Built in 1966, Bedford Park is poised for future rent growth through a market-supported value-add program.
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Bedford Park
272 Units
2739 Shallowford Road
Chamblee, GA  30341
Type: Conventional
Closed: 5/22/2019