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The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of 511 Queens, a 64-unit boutique apartment community located in Charlotte’s affluent submarket of Myers Park. The walkable neighborhood is defined by upscale retail, trendy restaurants, and is one of the most sought-after residential submarkets in the Southeast. Myers Park is nestled between Uptown, the vibrant downtown employment district offering 116,000+ jobs, and SouthPark, a premier infill live-work-play destination. It is also moments from the city’s largest hospitals of Novant and Atrium, creating 32,000+ total jobs. Propelled by luxurious best-in-class features and a distinguished presence along Queens Road, 511 Queens arrives nearing stabilization after a rapid lease-up with strong in-place rents. With stabilization imminent, investors are ideally positioned to realize embedded rent growth driven by the continuation of proven lease-up concession burn off, attractive fundamentals highlighted by blue-chip renter profiles, and catalyzing new development surrounding Myers Park, positioning 511 Queens as Charlotte’s premier boutique asset.
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511 Queens
64 Units
511 Queens Road
Charlotte, NC  28207
Type: Conventional
Posted: 12/18/2019
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 360-unit, Abbington Place apartment community located in Greensboro, North Carolina. Built in 2 phases (1995/1997), the low-density property received a recent capital investment of $3.86M that included new roofs, community amenity and parking lot enhancements, structural repairs, and interior upgrades to 65% of units. The demographics of the 1-mile radius surrounding Abbington Place outperform the broader market on nearly all fronts, with a 72% white collar workforce, 1.9% unemployment rate, and 50% of the population possessing higher education degrees. As the Greensboro-High Point MSA pipeline remains steady, the submarket will see a pause in development, having absorbed a recent surge in supply with ease. This strong market indicates the potential to take current, mid-tier renovations a step further at the property with the opportunity to boost annual NOI by 41% through a multi-faceted value-add 2.0 program.
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Under Contract
Abbington Place
360 Units
1521 Bridford Parkway
Greensboro, NC  27407
Type: Conventional
Posted: 1/3/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 80-unit Briarcliff apartment community located in Wilson, NC. This asset is situated within close proximity to the area’s premier retail and employment and is also strategically located near the intersection of I-95 and I-795, providing ease of access to both Raleigh and Wilmington. In addition to the location advantages, the submarket has seen a phenomenal 6% year-over-year rent growth since 2016. This growth is a result of an increasingly affluent renter base who are projected to see a 10% increase to HHI income over the next 5 years, while unemployment levels dwindle to 3.8%. Built in 1966, Briarcliff represents the opportunity to investment in an asset that has recently received a large-scale exterior renovation and is primed to see a 50% increase to NOI through a multipronged value-add program.
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Under Contract
Briarcliff
80 Units
400 Crestview Ave SW
Wilson, NC  27893
Posted: 10/9/2019
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 90-unit Capital Flats & Magnolia Square apartment community including 9,500 square feet of ground floor-retail located in Raleigh, North Carolina. This asset is situated in the heart of Raleigh, one of the fastest growing downtowns in the country. Built in 1982 with a $1.9M renovation completed in early 2020, Capital Flats & Magnolia Square offers an outstanding opportunity to invest in a unique asset primed to capitalize on growing demand for quality housing in the densest office market in the Triangle. With $2.3B in the current downtown development pipeline, Raleigh continues to grow and attract new residents, top businesses, and highly desirable retail.
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Capital Flats & Magnolia Square
Offers Due:  Wednesday, April 15, 2020
90 Units
500 E Hargett Street
Raleigh, NC  27601
Posted: 3/18/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 460-unit Crowne at James Landing apartment community located in Jamestown, North Carolina. The property is situated in the exploding Piedmont Triad, ranking 4th in the nation for rent growth in secondary markets, seeing a 4.4% increase over the past 12 months. Rent growth momentum is forecasted to remain steady propped up by rising household incomes and fleeting unemployment for an affluent, suburban renter base that brings home an average household income of nearly $100K. Crowne at James Landing presents the perfect value-add canvas with 9’ ceilings, huge floorplans, and a recent capital infusion of nearly $3.5 Million. Built in 1996, it offers an outstanding opportunity to invest in an institutional quality product with a proven value-add program that could be expanded upon and augmented by $500K in additional other income to ultimately realize a 35% increase to NOI.
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Under Contract
Crowne at James Landing
460 Units
4610 Crowne Lake Circle
Jamestown, NC  27282
Type: Conventional
Posted: 10/11/2019
The Cushman & Wakefield Sunbelt Multifamily Advisory Group are pleased to present the exclusive listing of the 204-unit, Cypress Run apartment community located in Columbia, SC. Embedded off of I-26 between Downtown Columbia and one of the largest retail corridors, Harbison Boulevard, Cypress Run sits near the top employment centers in the area. In addition, Cypress Run’s submarket is primed for further growth with top submarket rankings in effective rent growth (5.10%) and concession values in the first quarter of 2019. The asset also offers the chance to boost NOI by 32% with 99% of unit interiors left to be renovated and bring with market comparables that are averaging effective rents $100 - $170 higher.
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Under LOI
Cypress Run
204 Units
3430 Broad River Road
Columbia, SC  29210
Type: Conventional
Posted: 9/4/2019
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 136-unit Flats on 7th apartment community located in Raleigh, North Carolina’s burgeoning suburb of Garner. The property is surrounded by premier retailers and major thoroughfares, providing access to nearby employment hubs and a surging downtown. A recent $3.8 million capital infusion has prompted strong operational momentum and distinguished the asset as the foremost property of its vintage in the submarket. A lack of new supply, a rapidly expanding population, and the second highest occupancy levels across the market have created ideal rent growth conditions. Built in 1982 and renovated in 2018, Flats on 7th represents an outstanding investment opportunity for new ownership to capture $20,000 in immediate organic rent growth as old leases turn, while also capturing the projected 10% rent growth in the submarket over the next 3 years.
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Flats on 7th
136 Units
917 Seventh Avenue
Garner, NC  27529
Type: Conventional
Posted: 1/24/2020
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 128-unit Hunt Club apartment community located in Winston-Salem, North Carolina. This asset is situated in the rapidly-expanding Piedmont Triad, which saw market leading rent growth for the Southeast in the second quarter of 2019. The thriving economy of Winston-Salem has seen over $800M in funding for the Wake Forest Innovation Quarter while witnessing an influx of new residents seeking exciting opportunities in the tech and science fields. As a result, the immediate 3-mile radius around Hunt Club boasts extremely attractive demographics with the population consisting of 48% renters that bring home an average household income of over $84,000. Built in 1985, Hunt Club represents an outstanding opportunity to see a 37% NOI boost through the implementation of a market supported, interior value-add program that would command rental premiums of up to $100.
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Under Contract
Hunt Club
128 Units
103 Echo Glen Drive
Winston-Salem, NC  27106
Type: Conventional
Posted: 9/11/2019
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 264-unit Magnolia Terrace apartment community located in Charlotte, North Carolina. The asset is situated in the amenity rich University City suburb, which is experiencing phenomenal gains in population and employment – firmly cementing it as the second largest employment node in the MSA. Submarket performance continues to outpace the broader metro in rent growth, as average effective rent levels are expected to increase by $120 through 2022, while occupancy remains stable at 95%. Built in 1989, Magnolia Terrace is demonstrating spectacular operating momentum on the back of a recent $3.14M capital infusion and represents an outstanding opportunity to invest in an asset that can capture a 31% NOI boost through a multi-pronged value-add platform.
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Magnolia Terrace
264 Units
8301 Paces Oaks Boulevard
Charlotte, NC  28213
Type: Conventional
Posted: 2/10/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Nissen Building Apartments - a 145-unit, historic mixed-use, high-rise asset in the heart of flourishing downtown Winston-Salem. Attention to detail during the 2005 Nissen Building redevelopment, unique amenities, and existing quality of finishes provides the ideal canvas for a market-supported value-add platform to close a $200+ rent gap to competing downtown properties, while a perpetual 50% tax abatement drives cash flow. With frontage on 4th Street, Nissen Building residents enjoy supreme walkability to the Triad’s largest employers and eclectic entertainment venues in downtown Winston-Salem - a center city submarket that has witnessed nearly $2B of investment since 2000 as part of a continued renaissance. Drastically underserved by class A apartment units, downtown Winston-Salem boasts picture-perfect supply/demand fundamentals, offering investors of Nissen Building Apartments a chance to acquire a high-rise asset at an attractive basis with a protected rent growth runway.
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Under Contract
Nissen Building Apartments
145 Units
310 Fourth Street West
Winston-Salem, NC  27101
Type: Conventional
Posted: 10/8/2019
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 336-unit, North Lakes apartment community located in Greensboro, NC. The property offers an outstanding opportunity to invest in a well-performing asset within the economic powerhouse of the Piedmont Triad, strategically located beside a proposed exit off the future Greensboro Urban Loop (840). Built in 1972, North Lakes received a capital investment of over $2 Million in exterior amenities, including 71 roofs replaced in 2019, and ownership-implemented interior upgrades to 125 units. The immediate area is compacted with blue chip demographics, with averages HHI’s of over $94K expected to rise 13% by 2024. A high income renter base paired with the planned Urban Loop presents potential investors with the opportunity to complete the in-place value add program on the remaining 211 units to achieve an additional 26% in annual NOI.
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North Lakes
336 Units
2905 Cottage Place
Greensboro, NC  27455-2305
Type: Conventional
Posted: 3/25/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 353-unit Peppertree apartment community located in North Charleston, South Carolina. The asset is situated off Dorchester Road in close proximity to the top employment drivers in North Charleston where large investments have continually been made to expand and strengthen the Charleston job market. Built in 1983/1989, Peppertree offers an outstanding opportunity to see a 25% Return on Investment by completing the in-place value-add program, with 83% of units left to renovate generating proven premiums of $160. Peppertree also offers potential investors attractive assumable in-place agency financing with a low interest rate.
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Peppertree
Offers Due:  Thursday, April 16, 2020
353 Units
4640 Forest Hills Drive
North Charleston, SC  29418
Type: Conventional
Posted: 3/11/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 180-unit The Hamptons apartment community (the "Property") located in Charlotte, North Carolina. Built in 1996, The Hamptons represents the ideal value-add investment vehicle. The current value-add program is realizing average rental premiums of $170, and a new owner will be poised to capture a 16% increase in NOI through the completion of the program. The Property is situated in an optimal location along prominent thoroughfare, W.T. Harris Blvd, which provides access to the region’s premier retailers and largest employment nodes - totaling 114,000 jobs within 5 miles. The tailwinds of rising home values and increased employment in North Charlotte have resulted in ideal submarket growth fundamentals. Projections show the submarket realizing 3.3% year-over-year rent growth through 2023, resulting in an average rent increase of $148.
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The Hamptons
Offers Due:  Wednesday, March 25, 2020
180 Units
8415 University Station Circle
Charlotte, NC  28269
Type: Conventional
Posted: 2/12/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Residences at Fayetteville, a 120-unit apartment community located in Fayetteville, North Carolina. The property is surrounded by the region’s prominent thoroughfares, which provide residents convenient access to the plethora of retail in the immediate area, as well as the largest employers in the city, including Fort Bragg. Built in 1969 and renovated in 2019, The Residents at Fayetteville offers an outstanding opportunity to invest in an asset with very little deferred maintenance after a recent $900,000 capital infusion. Furthermore, an extremely successful in-place multi-pronged value-add initiative is underway, presenting upside of a potential 21% boost in annual NOI.
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The Residences at Fayetteville
120 Units
600 Ashbrook Court
Fayetteville, NC  28314
Posted: 3/4/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 264-unit, Vantage at Wildewood apartment community. Delivered in 1998, Vantage at Wildewood is located in the heart of Richland County’s Northeastern path of growth. Residents enjoy seamless access to the premier retail and employment in an area defined by an exceptional demographic base, including an average HHI of over $94,000 within a three-mile radius. Bolstered by large floor plans, substantial interior renovations completed throughout 2012-2013, and outstanding amenities, the property is poised to bridge a significant rental delta in effective rents with market competitors through a market-supported Class-A renovation initiative to capture $150 premiums.
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Under Contract
Vantage at Wildewood
264 Units
811 Mallet Hill Road
Columbia, SC  29223
Type: Conventional
Posted: 10/29/2019