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The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 250-unit, 180 West apartment community located in Carrboro, NC. Built in 1987, 180 West offers an outstanding opportunity to invest in a quality asset that received an investment of $875,000 since 2017. After a recent new construction of 94 units in the area in the past 12 months, no new supply is in the delivery pipeline through 2023, of which Carrboro has not seen any new multifamily developments in 10 years. The growing demand of Chapel Hill paired with Carrboro’s high barriers for new supply poises the property for consistent returns and an opportunity to boost annual NOI by 26% through implementation of a proven value add program, evidenced by higher rental rates at inferior competitor properties.
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Under Contract
180 West
250 Units
180 BPW Club Road
Carrboro, NC  27510
Type: Conventional
Posted: 7/16/2019
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 264-unit, Abbotts Run apartment community located in Wilmington, North Carolina. This asset is positioned in a highly-educated, affluent demographic region between UNCWilmington, The Port of Wilmington, and Wilmington International Airport with immediate access to the Coastal City’s major roadways. Delivered in 2002, Abbotts Run recently received a $3.5 million capital infusion which included common area renovations, a state-of-the-art clubhouse, and unit interior upgrades. Since completion in April 2016, this targeted initiative has proven to see a 38% increase in rental rates. Despite this impressive growth, the market indicates there is an opportunity for a value add 2.0 program as average rental rates trail comparable properties by $280, resulting in a potential to boost annual NOI by 14%.
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Abbotts Run
Offers Due:  Tuesday, November 12, 2019
264 Units
511 Cobblestone Drive
Wilmington, NC  28405
Type: Conventional
Posted: 10/7/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 202-unit Axiom apartment community located in the Charlotte, North Carolina. This asset is situated in rapidly expanding eastern Charlotte along a very desirable thoroughfare, which provides convenient access to 250,000 jobs within a 15-minute drive, as well as convenience to the most popular entertainment hubs throughout the city. Strong demographic trends show a 15% increase to household income over the next 5 years and an unemployment rate below 4% in the immediate three-mile radius. Built in 1987, Axiom represents an outstanding opportunity to invest in an untapped value-add that would realize $150-250 rental premiums and see an annual NOI Boost of nearly $475K representing a 57% increase over current levels.
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Under Contract
Axiom Apartments
202 Units
5625 Keyway Boulevard
Charlotte, NC  28215
Type: Conventional
Posted: 7/16/2019
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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Briarcliff
Offers Due:  Thursday, November 14, 2019
80 Units
400 Crestview Ave SW
Wilson, NC
Posted: 10/9/2019
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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Crowne at James Landing
Offers Due:  Thursday, November 14, 2019
460 Units
4610 Crowne Lake Circle
Jamestown, NC  27282
Type: Conventional
Posted: 10/11/2019
The Cushman & Wakefield Southeast 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 Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 160-unit Fiddlers Creek apartment community located in Winston-Salem, North Carolina. Given the proximity to major thoroughfares, residents can enjoy a short commute to downtown Winston-Salem, Hanes Mall and all of the region’s top employment. In addition to locational advantages, the submarket has seen 11% rent growth over the past 3.5 years and has no units proposed through 2021. The asset is sheltered from new competition and is set to continue strong rent growth trends. New ownership is presented with a unique investment opportunity to boost NOI by 62% through a multi-pronged value add approach totaling $355K in new revenue.
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Under LOI
Fiddlers Creek
160 Units
2180 Fiddlers Court
Winston-Salem, NC  27107
Type: Conventional
Posted: 8/5/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 280-unit, Greenwood at Ashley River apartment community located in Charleston, SC. Embedded just outside of the peninsula in the heart of North Charleston, the property sits 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. With a massive infusion of +$4.3 Million and affluent demographics, Greenwood at Ashley River offers the chance to boost NOI by 20% with over 63% of units left to renovate generating proven premiums of $150+.
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Under LOI
Greenwood at Ashley River
280 Units
6520 Dorchester Road
North Charleston, SC  29418
Type: Conventional
Posted: 8/7/2019
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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Hunt Club
Offers Due:  Thursday, October 17, 2019
128 Units
103 Echo Glen Drive
Winston-Salem, NC  27106
Type: Conventional
Posted: 9/11/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of Inspire SouthPark, a generational, 369-unit NGBS-Bronze-Certified apartment community located in Charlotte’s most affluent submarket of SouthPark. As one of the most sought-after residential locations in the Southeast, SouthPark is infill Charlotte’s premier live-work-play destination defined by upscale retail, trendy restaurants, and Fortune 500 employment centers across a walkable urban backdrop. Recognized as the city’s "Best Residential Development" by the Charlotte Business Journal at the 2018 CRE Heavy Hitters Awards, Inspire SouthPark boasts best-in-market amenities focused on micro-experiences, a distinguished presence along heavily-trafficked Sharon Road, and the neighborhood’s best access to Charlotte’s CBD. With stabilization imminent following Inspire SouthPark’s remarkably rapid lease-up, investors are ideally positioned to realize embedded rent growth driven by the continuation of lease-up burn off, attractive fundamentals highlighted by blue-chip renter profiles, and catalyzing new development that will redefine SouthPark’s positioning as Charlotte’s premier submarket.
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Under Contract
Inspire SouthPark
369 Units
345 Sharon Township Lane
Charlotte, NC  28211
Type: Conventional
Posted: 9/4/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 93-unit Lake Ridge apartment community located in Apex, North Carolina. This affluent suburb outside of Raleigh boasts blue chip demographics that see a resident base of 80% white collar workers bringing home an average household income of over $130K. This unique asset with highly desirable townhome floorplans is walking distance to downtown Apex, and is one of only ten market-rate, garden style properties in Apex - and is the only asset built before 1997. Lake Ridge offers an outstanding value-add opportunity that would see rental premiums of $200, and ultimately see a 45% increase to NOI propped up by an affluent renter base that can support future rent increases.
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Under LOI
Lake Ridge
93 Units
503 West Chatham Square
Apex, NC  27502
Type: Conventional
Posted: 8/20/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 288-unit Latitude @ The Commons apartment community located in Myrtle Beach, SC. Developed by Trammell Crow Residential, a multi-family development leader for over 40 years, Latitude @ The Commons is a timeless community offering best-in-class living and amenities. The only institutionally developed community in The Market Common, Latitude @ The Commons offers the most sought-after location in Myrtle Beach’s utmost upper-echelon lifestyle district, while offering residents immediate access to the Atlantic Ocean. Latitude @ The Commons offers new ownership the opportunity to purchase a core plus asset well below replacement cost in a market with dwindling supply compared to a population surge that is rivaling Charleston, SC, and well-surpassing coastal cities Savannah and Wilmington. Along with an outsized population growth comes a job market that is expected to outpace new deliveries by 20:1, priming the Myrtle Beach market for 14% rent growth through 2023 and a vacancy rate forecast to stay at 5%. Latitude @ The Commons is poised to generate average premiums of $145 by meeting the markets’ demand for high-end finishes and completing a Class-A renovation program bridging the rental gap between its competitors for which it currently trails by ~$200.
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Latitude @ The Commons
288 Units
2222 Crow Lane
Myrtle Beach, SC  29577
Type: Conventional
Posted: 8/19/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of Laurel View, a newly-constructed 174-unit apartment community in Charlotte, NC’s thriving suburb of Concord. Recently stabilized in Feb-2019 after rapid absorption, Laurel View offers new ownership the chance to acquire a brand new asset poised for immediate rent growth to close the current $160+ gap to class A competitors in Concord - an affluent suburban submarket defined by well-educated residents and dominant white collar employment. Concord’s diminishing supply pipeline ideally positions Laurel View within an insulated competitive submarket that offers blue-chip convenience to expanding lifestyle amenities and Charlotte’s most prominent job centers via seamless access to I-85.
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Under Contract
Laurel View
174 Units
350 Joshua Place NW
Concord, NC  28027
Type: Conventional
Posted: 4/3/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 302-unit Lively Indigo Run apartment community located in Ladson, SC. Featuring awe-inspiring curb appeal, top-of-the-line interiors and a market leading amenity package, Lively Indigo Run is truly the premier multifamily asset in the Ladson area of North Charleston. With convenient I-26 access, the property is just minutes from Downtown Charleston as well as major employment centers including Boeing (8,200 jobs), Joint Base Charleston (22,000 jobs), the new Mercedes-Benz plant (1,300 jobs) and Volvo plant (2,000 jobs). Located within the Ingelside mixed-use development micromarket, the property offers an unmatched quality of life and is in close proximity to North Charleston’s most coveted retail and entertainment destinations. Lively Indigo Run is uniquely positioned to capitalize on long-term favorable market fundamentals.
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Under Contract
Lively Indigo Run
302 Units
9255 Blue House Road
Ladson, SC  29456
Type: Conventional
Posted: 7/2/2019
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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Nissen Building Apartments
145 Units
310 Fourth Street West
Winston-Salem, NC  27101
Type: Conventional
Posted: 10/8/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 279-unit Nottingham apartment community located in Monroe, NC. Built in 3 Phases (1985, 1995, 2001), this asset offers investors a true value add initiative with all-original units trailing the central submarket by over $300. The property recently renovated a trial unit with vinyl wood flooring and has signed a lease $360 above the effective rental average for this floorplan. With no units under construction and only 262 units proposed, the area offers an opportune time to make significant strides in submarket where population & employment growth continues to thrive. Investors have the opportunity to increase annual NOI by 58% through multiple revenue streams including a market-driven interior upgrade initiative, trash income, water/sewer submetering, and washer/dryer appliance rentals.
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Under Contract
Nottingham
279 Units
2613 Nottingham Lane
Monroe, NC  28110
Type: Conventional
Posted: 5/22/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 228-unit Osprey Cove South apartment community located in acksonville, NC. The asset is strategically located beside Jacksonville’s 2nd largest employer, Air Station New River (18,100 jobs), as military personnel are forecasted to receive the highest pay raise in 10 years. The property recently received a capital infusion of ~$930,000, including multiple new roofs, prepping the community for a proven value-add initiative that could potentially boost NOI by 46%. With no units under construction since 2014 and only 89 new deliveries projected through 2023, the lack of a development will continue to drive rent increases as Jacksonville’s economy will expand in 2019 at its fastest rate in 6 years, powered by increased military spending and rebuilding that is underway due to Hurricane Florence.
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Under Contract
Osprey Cove South
228 Units
1832 Wilmington Hwy
Jacksonville, NC  28540
Posted: 7/10/2019
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 100-unit, Parkridge apartment community located in Graham, North Carolina. Centrally located between two of the fastest growing markets, Piedmont Triad/Research Triangle, residents are provided convenient access to multiple metros by way of I-40/I-85. Graham is known for its blue collar workforce, although recent additions in the professional and financial service sectors currently outpace national rates and continue to diversify and grow the local economy. Located in the Burlington submarket, Parkridge can expect to see another $100 in organic rent growth along with a 12% increase in HHI by 2023. Built in 1974, this community recently received a capital infusion of over $700,000 in exterior improvements, including all new roofs on the property. Parkridge represents an outstanding opportunity to invest in a premier asset of its vintage with a proven value-add program that is currently achieving premiums of up to $120 over standard units.
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Parkridge
Offers Due:  Thursday, October 31, 2019
100 Units
1013 Townbranch Road
Graham, NC  27253
Type: Conventional
Posted: 9/26/2019