The Cardinal Pointe Portfolio consists of 4 properties currently owned by an out- ofstate private equity group that purchased the properties approximately 10 years ago. Three of the four properties (Cardinal Pointe I, Cardinal Pointe II and University Apartments) are predominately occupied by Ball State undergrad students and are adjacent to campus. Wheeling Manor, the smallest of the four properties (24 units) is occupied by mainly non-student residents. All properties are leased by the unit, not by the bed, and have a history of high 95%+/- occupancy.

The majority of the units have original interior finishes and offer the new owner the opportunity to complete updates and achieve rent premiums .

The portfolio is being offering free and clear.

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Cardinal Pointe Portfolio (4 properties, 195 units)
University
32 Units
1204 & 1206 West Bethel Ave
Muncie, IN  47303
Type: Conventional
Closed: 8/1/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group, in conjunction with Cushman & Wakefield Student Housing Capital Markets, is pleased to present the exclusive listing of the 85-unit / 214-bed, 1969/1989/2005 built University Park located directly across the street from NC A&T State’s 11,000+ student campus. The property is equipped with one of the most diverse unit mix offerings in the submarket, including the only townhouse-style floorplans, coupled with a host of desirable unit features. University Park is well positioned for new ownership to capitalize on property level increases in occupancy and rental rates via hands-on management, strategic capital improvements and effective marketing.
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University Park (214 Beds)
85 Units | 214 Beds
425 Stedman Street
Greensboro, NC  27401
Type: Student
Closed: 8/1/2019

The Cardinal Pointe Portfolio consists of 4 properties currently owned by an out- ofstate private equity group that purchased the properties approximately 10 years ago. Three of the four properties (Cardinal Pointe I, Cardinal Pointe II and University Apartments) are predominately occupied by Ball State undergrad students and are adjacent to campus. Wheeling Manor, the smallest of the four properties (24 units) is occupied by mainly non-student residents. All properties are leased by the unit, not by the bed, and have a history of high 95%+/- occupancy.

The majority of the units have original interior finishes and offer the new owner the opportunity to complete updates and achieve rent premiums .

The portfolio is being offering free and clear.

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Cardinal Pointe Portfolio (4 properties, 195 units)
Wheeling Manor
44 Units
2400 N. Wheeling Avenue
Muncie, IN  47304
Type: Conventional
Closed: 8/1/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 144-unit, 86 North apartment community located in Chapel Hill, NC. Built in 1985, the property offers an outstanding opportunity to invest in a solid performing asset within the economic powerhouse of the Triangle MSA, strategically located in a highly educated, affluent submarket with an average HHI of +$112,000 in a 1-mile radius. Average rents at 86 North are approximately $480 lower than its immediate Class A competition and trails submarket comparable properties by $170, providing incoming ownership with a market-driven, value-add landscape to bring competitive rents to the market while capturing half of the rent ceiling. In addition, current ownership has paved the path to a feasible value-add program by renovating 4 trial units which are already receiving $145 premiums over standard units.
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86 North
144 Units
200 Westminster Drive
Chapel Hill, NC  27514
Type: Conventional
Closed: 7/31/2019

Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present South Bank Apartments, a 150-unit, core-plus apartment community located in Richmond’s Manchester submarket, a booming urban village located in the heart of the city. Built in 1937 and completely renovated in 2018, the Property combines dynamic industrial character with modern comforts to satisfy the unique tastes of urban renters.

The Property enjoys an excellent location with immediate access to the iconic James River as well as major employment centers in Richmond, which is home to 11 Fortune 1000 companies. South Bank’s exceptional location and unique features make it a rare opportunity to acquire a re-imagined asset with additional upside in the expanding Richmond economy.

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South Bank
150 Units
307 Stockton St
Richmond, VA  23224
Closed: 7/31/2019

The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 271-unit Sterling Pointe apartment community located in Ocala, Florida. The asset is situated in the desirable area of the North Ocala Submarket. Built in the early 1980's to early 2000's, Sterling Pointe offers an outstanding value-add opportunity that would result in Effective Rental Income growth of 31% and a 22% Return-on-Investment once fully implemented.

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Sterling Pointe
271 Units
3480 NE 48th Terrace
Ocala, FL  34488
Type: Conventional
Closed: 7/31/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of Elevate Grande Pointe - 180 units in Daphne, AL. Situated along the desirable Eastern Shore of Mobile, the subject enjoys an affluent resident profile and close proximity to quality retail and employment. Since acquisition, current ownership has invested $1.8M+ in interior, exterior, and community amenity upgrades - creating in-place organic rent growth and space for the next investor to completely round out the community. Built in 1984 (renovated 2018), Elevate Grande Pointe offers an excellent opportunity to acquire a repositioned asset in a high growth submarket with proven value add upside.
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Elevate Grande Pointe
180 Units
133 Lake Front Drive
Daphne, AL  36526
Type: Conventional
Closed: 7/30/2019
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Astoria Park
470 Units
3640 Beluga Lane
Indianapolis, IN  46214
Type: Conventional
Closed: 7/29/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 997-unit Oak Tree Villas apartment community located in Decatur, DeKalb County, Georgia. Situated within a Federal Qualified Opportunity Zone in the rapidly expanding Decatur area of northeast Atlanta, this asset is approximately 500 yards from the Kensington MARTA Station, with close-in access to all of Atlanta’s major employment hubs via I-285. Built in 1967, Oak Tree Villas offers a remarkable opportunity to invest in one of Atlanta’s most sought-after neighborhoods with unparalleled upside through stabilization and value-add.
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Oak Tree Villas
997 Units
3465 Kensington Road
Decatur, GA  30032
Type: Conventional
Closed: 7/29/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of 216-unit The Glen at Alexander apartment community in Augusta, Georgia. Strategically situated in desirable West Augusta just east of Interstate 20 and Washington Road, The Glen at Alexander benefits from unparalleled access to the city's best retail establishments and downtown. Built in 2003 and well stocked relative to amenities and features, the subject offers an outstanding opportunity to invest in a cash-flowing high quality product with potential to benefit from an elevated value-add strategy in a market with excellent apartment fundamentals and very low Class A competition.
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The Glen at Alexander
216 Units
1040 Alexander Drive
Augusta, GA  30909
Type: Conventional
Closed: 7/29/2019
Unique opportunity to acquire a long-term ground lease for a multifamily/mixed use development within the Novus Innovation Corridor near Arizona State University in Tempe, Arizona. Novus Innovation Corridor is a 350-acre, mixed use development planned for approximately 10 million square feet along Tempe Town Lake, including State Farm's 2.1-million-square-foot Marina Heights regional office. Novus is a unique opportunity to develop the 21st century urban community on an infill canvas in the center of one of the nation's largest and fastest growing metropolitan areas.
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Parcel 3B - Novus Innovation Corridor
2.4 Acres
767 East 6th Street
Tempe, AZ  85281
Type: Land
Closed: 7/26/2019
RCM LANDING PAGE: www.camelliatraceandcherrygrove.com

The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of Camellia Trace and Cherry Grove - 592 units located in Jackson, Madison County, Tennessee. These two assets are located in desirable neighborhood settings and have proven, inplace, value-add programs with increasing cash flows. Built in 2002 and 1996, Camellia Trace and Cherry Grove offer rare opportunities to place sizable capital into a growing market with strong yield.

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Camellia Trace & Cherry Grove (2 properties, 592 units)
Camellia Trace
212 Units
100 Trace Drive
Jackson, TN  38305
Closed: 7/25/2019
CALL FOR OFFERS MARCH 6, 2019
Available Individually or in Conjunction with The Park at Ashley Place

Cushman & Wakefield, as exclusive advisor, is pleased to present Lakes at North Port, located in North Port, Florida. The asset is a 312-unit value-add, multifamily community built in 2000 of tunnel form concrete block construction.

Lakes at North Port offers a significant value-add opportunity through unit renovations, and the ability to achieve $268 average rent premiums increasing effective rental income by 22%.

The community is just over a 30-minute commute to Downtown Sarasota and Fort Myers encompassing over 700,000 jobs.

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Lakes at North Port
312 Units
1015 Ohana Way
North Port, FL  34289
Type: Conventional
Closed: 7/25/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 238-unit apartment community, The Oaks, located in Athens, Clarke County, Georgia. This asset is situated in the sought-after area of Eastside Athens, characterized by its easy access to essential retail (Publix, Kroger, and plentiful restaurants) as well as University of Georgia’s expanding Eastside campus. The high-barriers Athens market continues to have annual rent growth exceeding 5% and extremely constrained occupancies. Built in 1970/1972, The Oaks is primed for market-supported rent growth, offers proven value-add implementation, and arrives with $3.4M in total capital improvements since 2015.
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The Oaks
238 Units
4160 Lexington Road
Athens, GA  30605
Type: Conventional
Closed: 7/24/2019

Arbors at Red Bank is a well-located Westside Evansville property attractively price at only $39,700 per unit / $3,500,000. Currently owned by a California-based private owner, Arbors at Red Bank can be purchased with two nearby properties, Arbors at Evansville North – 150 Units and Arbors at Evansville South – 121 Units for a portfolio of 359 unit, offering significant economies of scale. Built in 1973, the majority of the units have original interior finishes and offer the new owner the opportunity to complete updates and achieve rent premiums. The property has maintained high occupancy of over 95% and the current rental rates trail the competing properties by an average of $100.

Currently, Arbors at Red Bank receives a 75% Assessed Value deduction which lowers the property real estate tax bill. In exchange for this deduction, the owner agrees that 75% of the units are leased by residents earning 80% or less of the area median income and at least 25% of the unit are leased by resident earning 50% or less of the area median income. Up to 25% of the units may be leased with no income restrictions. The new owner of Arbors at Red Bank has the opportunity to maintain the assessed value deduction and income restrictions or may opt out of the program and have no income restrictions.

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Arbors at Red Bank
88 Units
4909 Sunnyside Court
Evansville, IN  47712
Type: Conventional
Closed: 7/23/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is excited to present the exclusive listing of The Ironwood in North Augusta, South Carolina. Located within a brand new mixed-use development, ballpark-anchored Riverside Village, The Ironwood stands alone as the premier, true Class AA market leader. Driven by the cybersecurity phenomenon, Augusta is projected to be the #1 job growth leader in 2019, justifying aggressive apartment market rent growth projections. Excellent walkability, riverfront lifestyle, unmatched array of amenities, and quick access to downtown’s burgeoning job hub together allow The Ironwood to serve the highest echelon of Augusta renters. Having demonstrated very impressive lease-up velocity, this asset faces virtually zero direct competition and is on track to stabilize in less than one year’s time leasing - offering immediately capturable second-generation rent growth. Notably, Riverside Village is within an Opportunity Zone, within TIF-approved development, and is assigned a fixed tax expense schedule through 2048.
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Gray
280 Units
339 Railroad Avenue
North Augusta, SC  29841
Type: Conventional
Closed: 7/22/2019
Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire 1500 S Street (the Property), a ±0.74 acre fully entitled development site located in Sacramento, California. Situated steps away from the epicenter of Sacramento’s thriving urban revival, the Property is a rare in-fill development site offering immediate access to the largest employment center in the region and the abundant lifestyle amenities comprising the neighboring historic R Street Corridor. 1500 S Street is approved to be built as a new five-story, mixed-use building with 76 residential units and 12,800 square feet of ground floor retail. With adjustments to this currently contemplated design, up to 123 residential units can be built at the site. Existing project approvals expire October 24, 2019. 1500 S Street provides the rare opportunity to acquire a significant and approved infill project adjacent to the core of Sacramento’s most coveted urban submarket. With modern design and a transit-friendly location, the Property will offer a highly amenitized living experience for tenants seeking convenient enjoyment of Sacramento’s transforming downtown.
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1500 S Street
0.74 Acres
1500 S St
Sacramento, CA  95811
Type: Land
Closed: 7/19/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group and Sage Partners Real Estate Solutions are pleased to present the exclusive listing for the 462-unit Chenal Valley Portfolio located in Little Rock, Arkansas. The 2 assets, Carrington Park and Stonebridge at the Ranch, are situated in the highly desirable Chenal Valley section of northwest Little Rock. Built between 1999-2005 and poised to utilize economies of scale, the properties present an outstanding opportunity to invest in value add assets in a highly attractive submarket.
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Chenal Valley Portfolio (2 properties, 462 units)
Carrington Park
202 Units
1801 Champlin Drive
Little Rock, AR  72223
Type: Conventional
Closed: 7/19/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group and Sage Partners Real Estate Solutions are pleased to present the exclusive listing for the 462-unit Chenal Valley Portfolio located in Little Rock, Arkansas. The 2 assets, Carrington Park and Stonebridge at the Ranch, are situated in the highly desirable Chenal Valley section of northwest Little Rock. Built between 1999-2005 and poised to utilize economies of scale, the properties present an outstanding opportunity to invest in value add assets in a highly attractive submarket.
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Chenal Valley Portfolio (2 properties, 462 units)
Stonebridge at the Ranch
260 Units
1 Stonebridge Circle
Little Rock, AR  72223
Closed: 7/19/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 17-unit 78 Sheridan apartment community located in north metro Atlanta, Fulton County, Georgia. This asset is situated a walkable 1 block east of iconic Peachtree Road, within Atlanta’s top urban submarket posting the metro’s strongest rent growth. Built in 1965 this boutique Buckhead offering presents a rare opportunity to invest in Atlanta’s most exclusive neighborhood.
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78 Sheridan
17 Units
78 Sheridan Drive
Atlanta, GA  30305
Closed: 7/18/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 438-unit Chattanooga Value-Add Portfolio located in Chattanooga, Hamilton County, Tennessee. These assets are situated in desirable east Chattanooga and benefit from unparalleled access to Chattanooga’s best retail corridor. Built between 1974-1994, the Chattanooga Value-Add Portfolio offers an outstanding opportunity to immediately establish a strong investment platform in one of Chattanooga’s fastest growing neighborhoods.
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Chattanooga Value-Add Portfolio (2 properties, 438 units)
Meridian at Hamilton Place
238 Units
7301 East Brainerd Road
Chattanooga, TN  37421
Closed: 7/18/2019

Golden Memories and Club Manor are age restricted senior communities that were built by a local Indiana developer. For many years the properties were highly occupied, well maintained and produced significant cash flow. As legacy assets, both properties were inherited by the developer’s children. In subsequent years, as management structures changed, the properties have struggled to perform resulting in lender foreclosures.

Golden Memories and Club Manor offer a new owner the opportunity to acquire two well located properties with enormous potential for improvements and increases in revenue and value. Properties may be purchased individually or together as a portfolio.

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Club Manor Apartments
96 Units
250 E Northfield Drive
Brownsburg, IN  46112
Type: Conventional
Closed: 7/17/2019
Sold
Golden Memories
58 Units
855 Southfield Drive
Plainfield, IN  46168
Type: Conventional
Closed: 7/17/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 336-unit Serenade apartment community located in Decatur, DeKalb County, Georgia. Adjacent to I-285, the subject offers direct access to Atlanta’s most prolific employment centers, including the ‘Clifton Medical Corridor,’ Midtown, Downtown, and Hartsfield-Jackson International Airport. Serenade offers expansive floor plans (1,031SF avg.) and significant recent capital improvements. This 1972-built offering is available for well-below replacement cost and is positioned for even higher investment returns.
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Serenade
336 Units
3859 Flat Shoals Parkway
Decatur, GA  30034
Type: Conventional
Closed: 7/17/2019