The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 56-unit Glenside Woods apartment community located in Greensboro, NC. This property offers investors a rare opportunity to invest in a unique, under-performing asset firmly situated in one of the fastest growing submarkets of the Triad. As submarket household incomes approach $90K+ paired with a muted delivery pipeline, the market indicates support for higher-end finishes in the surrounding areas, as Greensboro shifts its focus to target a white-collar workforce through educational attainment. New ownership will have the opportunity to boost NOI by 37% through the continuation of a proven value-add program and implementation of utility reimbursements.
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Glenside Woods
56 Units
1621 Glenside Dr
Greensboro, NC  27405
Closed: 7/1/2021

1 2002 BUILT PROPERTY WITH PROVEN VALUE ADD POTENTIAL

Current owner has completed light upgrades on 120+ units in phases I and II (The Flats – 320 units) and achieves a $60 premium. The new owner can continue with the current upgrade program and further enhance the units to achieve a higher premium of $100+.

2 2016 BUILT LUXURY PHASE PROVES DEMAND FOR HIGH END FINISHES

73 luxury townhomes, all with attached one car or two garages, were built in 2016 as Phase III and lease for 400+ more per unit than the 2002 built flat style units. The townhomes maintain high occupancy proving the demand in the area for luxury finishes.

3 COMPREHENSIVE AMENITY SET

Stone Ridge offers its residents a comprehensive amenity set that, while already in good condition, could be elevated. Amenities include a walking trail around the entire community, large pool with hot tub and adjacent covered outdoor cooking area, fitness center, bark park, basketball court, tennis court and 2 Amazon Hubs.

4 BRICK EXTERIORS & DESIRABLE UNIT FEATURES

The 2002 built phase (The Flats – 320 Units) offers a full brick exterior and desirable unit finishes including open kitchen layouts, washer/ dryer connections and private entrances. The 2016 built phase (The Townhomes – 73 Units) have attached one and two car garages, private entrance and high end luxury finishes.

5 NEAR VAST EMPLOYMENT OPPORTUNITIES

Located immediately adjacent to Ameriplex, a Class A logistics and distribution park with millions of square feet. Additional employment is plentiful near the site.

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Stone Ridge
393 Units
7111 Vedder Dr
Indianapolis, IN  46241
Type:  Multifamily
Closed: 7/1/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 206-unit Tree Top apartment community located in Raleigh, NC. This asset is situated in the rapidly-expanding North Hills area, a submarket transitioning into a new employment hub as Advanced Auto Parts leads the way with a new HQ only a mile from the property. Outstanding demographic trends paired with a 11% home value growth over the past 12 months have brought national investor recognition to the area as urban development materializes. The community is primed for a market backed, multifaceted value-add initiative targeting unit amenity enhancements and interior upgrades, with potential to increase NOI by 41%. Tree Top is a strong asset situated in a market with an advantageous rent forecast, low unemployment rate, wealthy workforce, and growing population.
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Tree Top
206 Units
1328 Steinbeck Drive
Raleigh, NC  27609
Type:  Multifamily
Closed: 7/1/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the Mobile 148 Portfolio. Mobile is the Gulf Coast’s dominant corridor for shipping & aerospace, attracting key players such as Walmart, Amazon and Airbus (4,000+ new jobs). Comprised of 148 units across 3 properties, the Mobile 148 Portfolio arrives to market with heavy capital infusion, proven value add upside, and excellent leasing trends.
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Mobile 148 Portfolio (3 properties, 148 units)
Arbor Pointe
56 Units
100 Dairy Road
Mobile, AL  36612
Closed: 6/30/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 301-unit ARIUM Emerald Isle apartment community located in Fort Walton Beach, FL. This asset is well-located with close proximity to state ranked schools, and all of Ft. Walton’s primary economic drivers. The Ft. Walton Beach market has seen tremendous growth with 6%+ Avg. YoY rent growth since 2017 providing the next investor a solid base to initiate high-yield upgrades and boost rents $100-$175+. Built between 1989-1996, ARIUM Emerald Isle offers an outstanding opportunity to invest in an asset with walkability to quality retail and commercial properties and major value add upside.
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ARIUM Emerald Isle
301 Units
214 Racetrack Road
Fort Walton Beach, FL  32547
Type:  Multifamily
Closed: 6/30/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the Mobile 148 Portfolio. Mobile is the Gulf Coast’s dominant corridor for shipping & aerospace, attracting key players such as Walmart, Amazon and Airbus (4,000+ new jobs). Comprised of 148 units across 3 properties, the Mobile 148 Portfolio arrives to market with heavy capital infusion, proven value add upside, and excellent leasing trends.
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Mobile 148 Portfolio (3 properties, 148 units)
Bird's Nest
32 Units
2901 Pleasant Valley Rd
Mobile, AL  36066
Closed: 6/30/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 120-unit Plantation apartment community located in Mobile, AL This asset is ideally situated in close proximity to two new major business developments - Amazon and Walmart (1,750+ jobs added last 3 years). Interstate 10 also offers outstanding access to the Mobile Aeroplex, home to Airbus and 2,000+ jobs. The property has averaged 97% occupancy over the last twelve months while steadily increasing total collections. Built in 1977, Plantation represents an outstanding opportunity to invest in a stable property with an excellent performance record in a well demanded market.
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Plantation
120 Units
5725 Old Pascagoula Rd
Mobile, AL  36619
Closed: 6/30/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 120-unit Summerlin Ridge apartment community. The asset is situated adjacent the region’s largest concentration of retail along Hanes Mall Boulevard and also benefits from a proximate location to I-40 as well as major local highways providing unmatched connectivity throughout the region. The South Winston-Salem Submarket continues to see impressive year-over-year rent growth. An increasingly wealthy population in the immediate 3-mile radius and lack of new deliveries create ideal conditions to support the projected 3.3% average annual rent growth through 2025. Built in 2004, Summerlin Ridge offers investors a proven, high-end value-add platform charging $240 premiums that upon completion would result in a 28% increase to NOI.
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Summerlin Ridge
120 Units
2425 Summerlin Ridge Road
Winston-Salem, NC  27103
Type:  Multifamily
Closed: 6/30/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the Mobile 148 Portfolio. Mobile is the Gulf Coast’s dominant corridor for shipping & aerospace, attracting key players such as Walmart, Amazon and Airbus (4,000+ new jobs). Comprised of 148 units across 3 properties, the Mobile 148 Portfolio arrives to market with heavy capital infusion, proven value add upside, and excellent leasing trends.
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Mobile 148 Portfolio (3 properties, 148 units)
The Retreat at Pleasant Valley
60 Units
2904 Pleasant Valley Rd
Mobile, AL  36606
Closed: 6/30/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Station at Town Madison, a 274-unit, 2020-built apartment community. The property is situated within the 563-acre Town Madison master development highlighted by Toyota Field, home to Huntsville’s new minor league baseball team. Huntsville has experienced 7.2% annualized apartment rent growth in Q1 2021, following 9.7% in 2020, and 6.0% in 2019. Delivered in March 2020, The Station at Town Madison is now 81% occupied / 88% leased with stabilization expected in April following a tremendous leasing season that averaged 29 units/month from June-Sep 2020. The property boasts unmatched amenities and finishes in the marketplace and has maintained excellent leasing velocity offering the next investor substantial value add upside by pushing 2nd generation leases
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The Station at Town Madison
274 Units
200 Town Madison Boulevard
Madison, AL  35758
Closed: 6/29/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 348-unit Upland Townhomes multifamily community located in Mableton, Cobb County, Georgia. This asset is strategically-located within Northwest Atlanta's preeminent Thornton Road and Fulton Industrial economic area along the I-20 western corridor near I-285. Built in 1970, Upland Townhomes arrives to market 96% occupied with upward income trajectory and proven value-add rent growth.
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Upland Townhomes
348 Units
6850 Mableton Parkway
Mableton, GA  30126
Type:  Multifamily
Closed: 6/29/2021

The Cushman & Wakefield Multifamily Advisory group is pleased to present this confidential memorandum to purchase the Atlas Apartment Homes in Las Vegas, NV. The property is located in the Smoke Ranch submarket, across from the North Las Vegas airport and adjacent to the affluent Summerlin neighborhood. Nearby apartments are largely held by institutional ownership.

ESMI ranked Las Vegas at #2 on their Talent Attraction Scorecard, and Yardi ranked Las Vegas at #3, nationally, for rent growth among major metros. The Smoke Ranch submarket has maintained above-average rent growth through COVID and North Las Vegas was the number one ranked submarket in the greater MSA. The property has also sustained rent growth, month over month, through 2020. Currently, renovated units are achieving rents of $1,200 per month on average, where classic units are achieving roughly $1,050 per month. October 2020 effective potential rents increased by 3%+ over the November 2019 figures..

The Atlas Apartment Homes are currently 52% renovated and are proving out rent bumps of over $100 per month with an average spend of $6,500 per unit. Ownership has recently renovated three units to a premium scope and are now achieving an additional $75 per month over the current renovated unit rents.

Video tour here: https://youtu.be/gASGY7AX8PM

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Atlas Apartments
198 Units
5067 Madre Mesa Drive
Las Vegas, NV  89108
Type:  Multifamily
Closed: 6/28/2021
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 158-unit Hawthorne Centre North and the 78-unit Hawthorne Lofts South located in the center of Wilmington, NC, the 3rd fastest growing city in the state. These offerings can be purchased individually or as a portfolio. Built in 1996/1990, this well-maintained portfolio has received over $3.5 million in capital improvements since 2013, implementing property-wide roof replacements in 2019 and significant amenity enhancements along with light upgrades throughout the units. The area has received a massive influx of new residents, as Wilmington explodes in population growth due to in-migration accelerated by the pandemic, as remote workers love the affordable beach lifestyle and beautiful scenery that Wilmington has to offer. Impressive leasing trends are expected to continue with Wilmington, NC ranking as a top 20 city in the United States for inbound population growth in 2020. Both properties are top performers in their submarket by holding a 98% occupancy average over the past 15 months. Current renovations at the Hawthorne Centre North and Hawthorne Lofts South are achieving rent premiums of $75 and $95, respectively. Despite this impressive performance, the market indicates there is an opportunity for a higher-end value-add program that would result in a potential boost to NOI by 28%-37%, along with the potential to implement additional revenue streams.
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Hawthorne Centre North and Lofts South (2 properties, 236 units)
Hawthorne Centre North
158 Units
5208 Ringo Drive
Wilmington, NC  28405
Type:  Multifamily
Closed: 6/28/2021
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 158-unit Hawthorne Centre North and the 78-unit Hawthorne Lofts South located in the center of Wilmington, NC, the 3rd fastest growing city in the state. These offerings can be purchased individually or as a portfolio. Built in 1996/1990, this well-maintained portfolio has received over $3.5 million in capital improvements since 2013, implementing property-wide roof replacements in 2019 and significant amenity enhancements along with light upgrades throughout the units. The area has received a massive influx of new residents, as Wilmington explodes in population growth due to in-migration accelerated by the pandemic, as remote workers love the affordable beach lifestyle and beautiful scenery that Wilmington has to offer. Impressive leasing trends are expected to continue with Wilmington, NC ranking as a top 20 city in the United States for inbound population growth in 2020. Both properties are top performers in their submarket by holding a 98% occupancy average over the past 15 months. Current renovations at the Hawthorne Centre North and Hawthorne Lofts South are achieving rent premiums of $75 and $95, respectively. Despite this impressive performance, the market indicates there is an opportunity for a higher-end value-add program that would result in a potential boost to NOI by 28%-37%, along with the potential to implement additional revenue streams.
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Hawthorne Centre North and Lofts South (2 properties, 236 units)
Hawthorne Lofts South
78 Units
351 Red Wing Lane
Wilmington, NC  28403
Type:  Multifamily
Closed: 6/28/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 168-unit Avalon on Montreal apartment community located in Northeast Atlanta, DeKalb County, Georgia. This asset is situated in the rapidly-expanding, high industrial and e-industrial growth area of Clarkston, GA. Built in 1975, the property underwent a full repositioning program in 2011, during which interiors, exteriors, all systems and amenities were significantly renovated. The property operates much more like a 2011 vintage asset. The submarket supports a full interior renovation of the conventional units. Avalon on Montreal represents an outstanding opportunity to invest in an asset with significant value-add potential and located in a thriving industrial corridor. * 89 units rent restricted through 2027 when the entire property can be taken to full conventional rents (see page 15 of the OM for details).
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Avalon on Montreal
168 Units
1086 Montreal Road
Clarkston, GA  30021
Closed: 6/25/2021

The Cushman & Wakefield Mid-Atlantic Single-Family Advisory Group is pleased to present the exclusive listing of the I-695 Single-Family Portfolio. The Portfolio offers future ownership the rare opportunity to acquire a turnkey, gut renovated Single-Family Rental Portfolio with consistent net operating income, and an attractive cash on cash return. Single-Family Rentals have emerged as one of the most attractive asset classes to both institutional and private investors, with high yields and robust resident demand. The I-695 Single-Family Portfolio has a high concentration of Properties in Baltimore, Harford, and Anne Arundel Counties. Home interiors feature In-Unit Washer/Dryers, Granite Countertops, Stainless Steel and Black Appliances and New Flooring and Carpeting.

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I-695 Single Family Portfolio
66 Units
Various
Baltimore, MD  21229
Type:  Single-family
Closed: 6/25/2021
OM AVAILABLE SOON
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 244-unit Legacy Haywood apartment community located in Greenville, SC. Legacy Haywood offers investors the opportunity to own the best-in-class suburban asset in one of the most burgeoning markets in the Sunbelt. The property is ideally located between Downtown and the I-85/I-385 corridor which provides superior access to Greenville’s largest employment nodes and 59,000 jobs within a 3-mile radius. The Greenville market has consistently averaged 3%+ rent growth, and after an extended season of supply, is starting to witness a diminishing delivery pipeline as there are no proposed or under construction units within 3 miles of Legacy Haywood. Best-in-class amenities provide a resort-like feeling throughout the property, while carefully curated unit interiors highlight the asset’s superiority over submarket competitors. Built in 2020, Legacy Haywood represents an outstanding opportunity to invest in the premier asset of suburban Greenville while offering the opportunity to capture $240 in rental headroom to top-of-market competitors.
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Legacy Haywood
244 Units
930 Old Airport Road
Greenville, SC  29607
Type:  Multifamily
Closed: 6/25/2021
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Barrington
342 Units
5775 Summer Place Parkway
Hoover, AL  35244
Type:  Multifamily
Closed: 6/22/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group and Larry G. Schedler & Associates, Inc. are pleased to present the exclusive listing of the 128-unit Chestnut Ridge apartment community located in Baton Rouge, Louisiana. This asset is embedded amongst Baton Rouge’s healthcare district and less than a ten minute drive from LSU and L’Auberge Casino & Hotel. The asset is also a short drive from many of Baton Rouge’s premier retail locations. In 2020, the asset underwent a full renovation of the interiors, exteriors, and common spaces. Building siding was redone, the clubhouse was completely refurbished, and 100% of unit interiors were upgraded. Built in 1974/2020, Chestnut Ridge represents an outstanding opportunity to invest in a fully renovated asset located near top employers and retail.
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Chestnut Ridge
128 Units
8686 Coy Avenue
Baton Rouge, LA  70810
Type:  Multifamily
Closed: 6/22/2021

The acquisition of Deercross provides investors with the rare opportunity to acquire 372 units at a 6%+ trailing cap rate and the proven ability to increase rent with light unit upgrades.. Deercross is being sold subject to the assumption of the existing Fannie Mae loan and therefore will not require upfront escrows and has interest only payments until June of 2025.

51 units at Deercross have been lightly renovated and have achieved $60+/- premiums. The new owner has the ability to continue to renovate units and grow revenue.

Deercross is located on the west side of Indianapolis and offers very convenient access to some of the city’s largest employers. Located directly on 38th street, a major east/ west thoroughfare with an average daily traffic count of 45,000, Deercross maintains extremely high leasing traffic.

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Deercross
372 Units
7007 Deer Path Drive
Indianapolis, IN  46254
Type:  Multifamily
Closed: 6/21/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 176-unit Valley Crest apartment community located in Birmingham, Alabama. The asset is nestled in-between Downtown Birmingham and affluent municipalities of Homewood and Vestavia Hills with close-proximity to all employment and community amenities in the Birmingham Metro. Built in 1979, this well-maintained property represents an outstanding opportunity to invest in a densely occupied asset with a proven value add strategy and unparalleled convenience to an array of Birmingham hot spots.
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Valley Crest
176 Units
316 Beacon Crest Lane
Birmingham, AL  35209
Type:  Multifamily
Closed: 6/21/2021

Cushman & Wakefield, as exclusive advisor, is pleased to present the core-plus investment opportunity to acquire the 700 unit City Center on 7th in Pembroke Pines, Florida. The property features an appealing unit mix with 425 garden style apartment homes and 275 two-bedroom townhomes with a market-leading size of 1,143 square feet. Of the townhomes, 55% have direct-access two car garages while 18% have one car garages. Originally built in two phases in 2014 and 2015, the property has upgraded 320 units – changing Formica countertop in the kitchens and bath to quartz for a $75 monthly premium. Given its two-phase development, the property now has two clubhouses, pools and fitness centers. The recently completed Pines City Center provides residents walkability to 300,000 square feet including Publix and other shopping and dining destinations. Its central Broward location provides residents quick commutes to the major employment centers in South Florida.

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City Center on 7th
700 Units
10170 SW 7th Street
Pembroke Pines, FL  33025
Type:  Multifamily
Closed: 6/18/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 250-unit Legacy Value-Add Duo multifamily portfolio located in Northeast suburban Atlanta, Gwinnett County and Hall County, Georgia. Located in the I-85 ‘Golden Corridor’, both properties offer quick access to numerous large employment centers. In addition to benefitting from suburban workforce housing in submarkets with limited new multifamily supply, this portfolio offers significant value-add opportunity. Current renovated units are receiving between $100-$375 premiums, creating a clear path for new ownership to push rents though a value-add program. Built in 1985 and 2004, Legacy at Norcross and Legacy at Lanier are situated in top suburban submarkets with metro Atlanta exposure, high-demand workforce housing, limited new supply, and immense value-add upside.
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Legacy Value-Add Duo (2 properties, 250 units)
Legacy at Lanier
150 Units
1750 Columns Drive
Gainesville, GA  30504
Type:  Multifamily
Closed: 6/18/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 174-unit Chelsea Place apartment community located in Lithonia, DeKalb County, Georgia. This asset is situated along the rapidly-expanding I-20 corridor in East suburban Atlanta, near numerous job drivers including Stonecrest (1 mile), Emory Hillandale Hospital (2 miles), and the Snapfinger Industrial District (5 miles). Built in 1973, Chelsea Place offers an outstanding opportunity to invest in a strong performing asset providing prime value-add potential.
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Chelsea Place
174 Units
2361 Parc Chateau Drive
Lithonia, GA  30058
Closed: 6/17/2021