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Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present Woods of Williamsburg, a 125-unit asset in the highly desirable Williamsburg submarket. Woods of Williamsburg present investors a pure play value-add opportunity with 100% of units in classic condition. Nearby competitors average rents over $300 in excess of the asset and structuring a programmatic renovation of unit interiors could garner significant rent increases. The Property is located in James City County, one of the top demographic areas of the Hampton Roads region which adds to the asset’s appeal and upside potential. Woods of Williamsburg is one of very few workforce housing assets in Williamsburg, which continues to see new construction based on the favorable demographics, making it an increasingly rare Property which will accelerate its rental demand. It’s location proximate to some of the largest retail and employment nodes in the area adds to its significant appeal. Overall, the Hampton Roads apartment market has been one of the best performing in the Mid-Atlantic region with projected rent growth exceeding that of peer markets Richmond and Washington, DC. Fundamentals in Williamsburg are on par with or exceed the broader market. Woods of Williamsburg presents investors an opportunity to acquire a rare asset, that is in 100% classic condition with significant upside in one of the best demographic areas of the Mid-Atlantic’s best performing apartment markets.

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Woods Of Williamsburg
125 Units
108 Tilghman Ct
Williamsburg, VA  23188
Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present Braddock Lee Apartments, a 258-unit asset in the prime Alexandria, Virginia submarket. Braddock Lee presents investors proven value-add upside with 27% of units fully renovated garnering rent increases of $100. The ability exists to continue or improve the existing renovation scope which would allow for additional premiums. The Property is located in Alexandria, Virginia, one of Northern Virginia’s most desirable locals, with significant retail and some of the Washington metro’s largest employers in close proximity. This creates consistent tenant demand with submarket fundamentals outperforming the broader market from both a rent growth and vacancy perspective. Braddock Lee is one of very few workforce housing assets in East Alexandria which adds to its investment appeal and allows for outsized performance. The Property has been well maintained with $3.27MM invested by current ownership, including the replacement of all roofs, limiting capital risk going forward. Braddock Lee presents investors an opportunity to acquire a well-located workforce housing asset, with proven rental upside in one of Northern Virginia’s most desirable areas.
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Braddock Lee Apartments
258 Units
2423 Menokin Dr
Alexandria, VA  22302
Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present Kensington Crossing and Magnolia Falls, a two property, 676-unit portfolio in Fredericksburg, Virginia. The 476-unit Kensington Crossing and 200-unit Magnolia Falls are minutes away from one another offering investors intriguing scale in Stafford County, one of Northern Virginia’s fastest growing jurisdictions. Kensington Crossing was built in three phases, with 152 units built between 1991 and 1992, and 320 units completed in 2003 with 9’ ceilings and fully sprinklered buildings. The Portfolio is located minutes away from some of Stafford County’s largest employers and within close proximity to significant retail amenities. The area’s appeal is demonstrated in the outsized population growth which has been experienced in the immediate area around the assets, outpacing that of Stafford County as a whole. This demand translates to lofty apartment market fundamentals with current and projected rent growth expected to exceed the broader DC metro area and average over 4.0% annually over the next 5-years. In addition to organic growth potential, Kensington Crossing and Magnolia Falls present intriguing mark to market potential with new leases achieving trade-out growth of 16.6% and 14.2% respectively. Each asset has seen significant capital invested in base building, amenities and unit renovations limiting capital risk. Both properties are being offered subject to below market existing financing to further magnify returns. Please note ownership will accept offers on a portfolio or individual asset basis.
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Kensington Crossing & Magnolia Falls
676 Units
101 Knights Ct
Fredericksburg, VA  22406
Cushman & Wakefield’s Mid Atlantic Multifamily Group is pleased to offer Sphere Apartments, a newly constructed asset located adjacent to the dynamic Scott’s Addition/Diamond District. Sphere Apartments is squarely in the path of growth within Richmond, positioned between the established Fan District and high growth areas of Scott’s Addition and Downtown Richmond. The Property’s micro location is also seeing significant economic investment with Virginia Union University undergoing a $500MM redevelopment across the street which will continue to increase demand for rental apartments. The asset is in close proximity to the newly awarded Diamond District redevelopment which will bring an additional $2.44 Billion of economic development over the next 13-years fueling additional demand. Sphere Apartments features best-in-class finishes and amenities while also renting at a price point well below area competitors which will allow for outsized rent growth post stabilization. The Richmond MSA is one of the Mid-Atlantic’s best performing economic and apartment markets with fundamentals which greatly outpace other peer markets and primary markets. Sphere Apartments provides investors the ability to acquire a best-in-class asset in a high growth location with additional upside potential in the rents in one of the region’s most dynamic pockets.
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Sphere Apartments
224 Units
2005 Brook Rd
Richmond, VA  23220
Cushman & Wakefield’s Mid-Atlantic Multifamily Advisor Group is pleased to present The Villages at City Center, a 116-unit asset in Newport News, Virginia. The Villages at City Center was built in three phases and is comprised predominately of townhome style units. This, coupled with varying unit styles offers ultimate leasing optionality for tenants which has contributed to steady operations and limited rental loss on a trailing basis. The Property’s location in the desirable Jefferson Avenue Corridor is among the best in the region, minutes from I-64 with significant high-end employment and retail offerings in close proximity. The asset is located adjacent to Newport News’s urban town center, City Center of Oyster Point and five minutes from one of only two Whole Foods Markets in the entire MSA adding to its appeal. The Villages at City Center offers investors various value-add strategies with renovation premiums of $125 proven out by current ownership and the ability exceed these premiums based on rents being achieved by similar assets in the immediate area. A substantial amount of capital has been invested in the asset by current and former ownership which limits downside risk and will allow a new investor to focus on income producing investment. The Hampton Roads apartment market has been one of the best performing in the Mid-Atlantic region with projected rent growth exceeding that of peer markets Richmond and Washington, DC. The Villages at City Center offers a rare opportunity to acquire a well performing asset, with limited capital required and additional upside in one of the most stable economies in the Mid-Atlantic.
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The Villages at City Center
116 Units
828 Forrest Dr
Newport News, VA  23606