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The Fields at Rock Creek presents a rare opportunity to acquire a modern, functional, value-add asset in Frederick, MD. The Property’s location proximate to the region’s most trafficked accessways, I-270 and I-70, provides direct connectivity to the largest economic engines in the greater Washington and Baltimore MSA’s. Tremendous in-place employment there includes the I-270 Technology Corridor, Northern Virginia office market, and high-quality local employment in Frederick and Urbana which is leading to sustained demand from an affluent renter base. Additionally, the Frederick County Public School System creates a significant draw for younger renters who are looking for the unique combination of a top-tier education system at a relatively affordable cost of living. This increased demand is creating strong apartment market fundamentals with effective rent growth in the submarket of 15.2% YoY in Q4 2021 and vacancy of just 2.3%. The Property is perfectly positioned to take advantage of these lofty fundamentals and is currently 97% occupied with a proven value-add upside. Approximately 230 units have been renovated to achieve $150 premiums with 26% of the units (84 units) still in Classic condition. The opportunity exists for a new owner to renovate the remaining Classic units as well as upgrade the current renovation package to achieve premiums of $200+. The Fields at Rock Creek’s top-of-the-line community amenities, dynamic location and premier assigned schools is driving demand for an affluent renter by choice as evidenced by gross potential rent increasing 7.2% year-over-year 2021.
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The Fields at Rock Creek
   
100 Alessandra Ct
Frederick, MD  21702
Posted: 1/12/2022
Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present The Pointe at County Crossing (The Property), a 466 -unit townhome community with proven value-add potential in Baltimore, MD. The Pointe at County Crossing presents the opportunity to acquire immediate scale in one of the Mid-Atlantic’s highest performing apartment markets. The Baltimore market has been an outperformer with low vacancy and accelerated rent growth over the last twelve months with this trend projected to continue. The Property is perfectly positioned to take advantage of these lofty apartment fundamentals due to its dynamic Harford County location, within the high growth I-95 Industrial corridor. The Property is currently 95% occupied and has proven upside with renovated unit garnering rent increases up to $175. The opportunity exists to renovate the remaining 66% of units (307 total units) to achieve similar or increased premiums based on rents for renovated units in the immediate competitive set. The Pointe at County Crossing presents a unique opportunity to acquire a large-scale asset with proven value-add upside in Baltimore, MD, one of the Mid-Atlantic’s best multifamily markets.
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The Pointe at County Crossing
466 Units
311 Trimble Road
Joppa, MD  21085
Type: Conventional
Posted: 1/3/2022
Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present Townhomes of Oakleys ("The Property"), a 160-unit, affordable housing multifamily asset in Richmond, Virginia. The Townhomes of Oakleys offers residents a rural setting yet proximate to Downtown Richmond, Richmond International Airport, and many highways including I-64 and I-95. The Property, built in 1974, provides residents with a variety of spacious and unique floor plans at an affordable price. The current market rents at the Property are below the Henrico County’s 2020 Fair Market Section 8 Housing by an average of $415 per unit providing the opportunity to increase current market rents to the Fair Market Section 8 rent in Henrico County. Additional value can be realized once the affordability expires at the Property. The Property is located in the premier Henrico County, one of the best in Richmond, with dynamic regional access to Downtown Richmond, Richmond International Airport, and significant retail and amenities. Within a short walk from the Property is White Oak Village which includes Publix Super Market, Lowe’s, Target, Starbucks, JC Penny and much more. The Richmond MSA has performed exceedingly well throughout the Covid-19 Pandemic with effective rent growth at 10.9% in Q3 2021 and vacancy rates dropping to 2.9%. The Townhomes of Oakleys unique asset quality, affordability, premier location and dynamic access, make it a rare opportunity to acquire an affordable townhome community in Richmond with the ability to mark rents to the Section 8 market in the high growth Richmond apartment market.
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Townhomes of Oakleys
160 Units
4633 Needham Court
Richmond, VA  23231
Posted: 1/13/2022

Cushman & Wakefield has been exclusively retained by the Owner to arrange the sale of 245 Shawan Road ("245 Shawan", "The Site", or "The Property"), a 6.17 acre site in Baltimore County's most desirable locale - Hunt Valley, MD.  Located at the nexus of Interstate 83 and Shawan Road, the Site is an irreplaceable location that will create exceptional access to the MSA's top employers in addition to high-quality retail and lifestyle amenities.  The Site is zoned BM-CCC which provides attractive flexibility for developers and allows for up to 400 units to be built.  As one of only three sites in Baltimore County granted BM-CCC zoning, 245 Shawan represents an incredibly rare opportunity to build new multifamily product in the submarket and is poised to capture significant renter demand as residents flee the downtown market for the suburbs.

Hunt Valley is one of the most supply constrained submarkets in the Baltimore MSA with only one competing property and zero units in the development pipeline.  The area's exceptional demographics, high barriers to home-ownership, and attractive employment base are creating pent up renter demand and will create significant acceleration in the micromarket's apartment market fundamentals moving forward.  Developers are well-positioned to take advantage of these positive trends and deliver the next trophy multifamily project in this high-profile location.

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Under Contract
245 Shawan Road
   
245 Shawan Road
Hunt Valley, MD  21031
Posted: 12/7/2020

The Wylie Holdings Portfolio is an incredibly unique opportunity for an investor to acquire 222 turn-key units located in some of Pittsburgh’s most desirable neighborhoods with an incredibly high barrier to entry. With a large concentration of the portfolio located in the iconic and highly sought-after neighborhood of Lawrenceville, the properties rival the best apartment and mixed-use properties Pittsburgh has to offer.

Pittsburgh has experienced unparalleled growth and investment from robotics, artificial intelligence, computer science, life sciences and healthcare industries led by top, regional employers like Argo AI, Uber, PNC, the University of Pittsburgh Medical Center and some of the world’s best colleges and universities including Carnegie Mellon University, the University of Pittsburgh and Duquesne University. The Portfolio’s locations provide residents with easy access to these employers and universities as well as being centrally located in the city’s most popular neighborhoods where tenants can walk to central business districts, easily access public transportation, or connect to every major highway and interstate. The Wylie Holdings Portfolio has all the right demand drivers that investors are actively seeking throughout the Mid-Atlantic.

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Under Contract
5231-5237 Butler St
222 Units
5231-5237 Butler Street
Pittsburgh, PA  15201
Posted: 9/22/2021