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The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 41-unit 612 Hillsborough apartment community located in Chapel Hill, North Carolina. This asset is located strategically in the center of Chapel Hill, an integral part of the rapidly expanding Research Triangle. Residents of 612 Hillsborough have convenient access to the largest employment/education hubs in the area, including UNC, Duke University, and Research Triangle Park. The asset is also short distance away from many shopping, dining, and entertainment options. Built in 1967, 612 Hillsborough offers an outstanding opportunity to invest in an exceptional asset in the thriving Chapel Hill area. New ownership can implement the proposed value-add initiative by renovating all 40 two-bedroom units to achieve $100 premiums and an ROI of 24%.
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612 Hillsborough
Offers Due:  Tuesday, December 7, 2021
41 Units
612 Hillsborough Street
Chapel Hill, NC
Type: Conventional
Posted: 11/1/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 144-unit, 1979-built Aven apartments in Durham, NC. The property is ideally located in the heart of the Research Triangle, home to over 300 companies employing more than 50,000 workers including 2 recent announcements of Google and Apple establishing offices in the area. Raleigh-Durham is 2021’s top market for Multi-family acquisition and Aven is primed to capitalize on impressive rent growth, superb demographics, robust economic activity, and seamless access to the area’s premier employment, retail, and dining destinations by way of Interstate-54, the Triangle Expressway, and Interstate 40. With little deferred maintenance and a proven interior renovation program, new ownership will be uniquely positioned to complete the in-place program generating $90-$160 premiums.
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Under Contract
Aven Apartments
144 Units
3207 Stonesthrow Lane
Durham, NC  27713
Type: Conventional
Posted: 7/19/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 107-unit, Azalea Park apartment community located in Durham, NC. Built in 1973 and revamped in 2006, this asset is strategically located near Interstate 85, with easy access to nearby top employers and a vast selection of retail and entertainment options. The property has received over $1M in capital improvements since 2017 and incoming investors can capitalize on Azalea Park’s value-add potential as submarket rents continue to rise in response to Durham and the NC Triangle’s strong economic growth. As Downtown Durham continues to revitalize its infrastructure, this quality asset is primed to capture the incoming workforce spillover as the city continues to attract new and expanding Tech/Life Sciences/Healthcare employers, resulting in an affluent and educated labor pool.
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Under Contract
Azalea Park
108 Units
2105 Bogarde Street
Durham, NC  27705
Posted: 6/29/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 72-unit Bearfoot Landing apartment community located in New Bern, NC. This asset is desirably located in the heart of New Bern, NC, where residents are within walking distance of the waterfront and are short drive away from 2 major shopping destinations. Several large employers, such as MCA Cherry Point, Fleet Readiness Center East, and Carolina East Health System are located in New Bern and contribute greatly to the area’s economy. Built in 1945, Bearfoot Landing offers an outstanding opportunity to inherit a well-maintained asset with 8 units coming back online with high end finishes that will generate an additional $103k in annual revenue.
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Bearfoot Landing
72 Units
1350 Trent Boulevard
New Bern, NC  28560
Posted: 10/4/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 110-unit Bellingham Park condominium community located in Wilmington, NC, the 3rd fastest growing city in the state. The offering is for 110 units out of the total 284-unit Bellingham Park community. Built in 2006/2012, Bellingham Park is a strong performing asset with excellent occupancy and rent growth trends. Wilmington is experiencing significant population growth due to in-migration accelerated by the pandemic, as remote workers love the affordable beach lifestyle and beautiful scenery that the North Carolina coast has to offer. Impressive leasing trends are expected to continue with Wilmington ranking top 20 city in the United States for in-bound population growth in 2020 contributing to the impressive 8.5% rent growth in the market over the past year. Incoming investors can capitalize on strong market fundamentals by completing the in-place value-add program that will generate $111K in annual revenue yielding a 14.5% boost to NOI.
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Under Contract
Bellingham Park
110 Units
1522 Cadfel Court
Wilmington, NC  28412
Type: Conventional
Posted: 6/16/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 76-unit Chapman Pointe apartment community located in Dallas, North Carolina (Gastonia). Built in 1999, the property is situated just north of the newly widened I-85, US-321 Interchange, and is poised to benefit from the rise in population anticipated from the infrastructure improvements. Gaston County has emerged as a location of choice for foreign investments in advanced manufacturing, serving as the key driver for some of the strongest rent gains in the metro. The growing demand of Gastonia paired with muted supply in 2020 poises the property for consistent returns and an opportunity to boost annual NOI by $160,000 through continuing the in-place value add program (14% renovated).
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Under Contract
Chapman Pointe
76 Units
500 Chapman Pointe Circle
Dallas, NC  28034
Posted: 7/14/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 354-unit, Foxfire apartment community located in Durham, NC. Strategically located in North Durham, Foxfire enjoys easy access to nearby top employers and a vast selection of retail and entertainment options. Incoming investors can capitalize on Foxfire’s value-add potential as submarket rents continue to rise in response to Durham and the NC Triangle’s strong economic growth. As Downtown Durham continues to revitalize its infrastructure, this quality asset is primed to capture the incoming workforce spillover as the city continues to attract new and expanding Tech/Life Sciences/Healthcare employers, resulting in an affluent and educated labor pool.
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Under Contract
Foxfire
354 Units
1400 Wyldewood Road
Durham, NC  27704
Type: Conventional
Posted: 7/21/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 204-unit, Hudson Montford apartment community, a one-of-a-kind, core plus asset immersed in the heart of in-town living. The asset is located in the epicenter of Montford Park, Charlotte’s next core micro market exploding with commercial development and characterized by an affluent resident base ($137,000 avg. HHI), skyrocketing home values ($514,000 MHV), and Charlotte’s premier employment hubs with 195,000 jobs within a 15-minute drive. Built in 1999, Hudson Montford recently received a $6.3M capital infusion - creating thoughtfully reimagined interiors and an upgraded amenity package to match. While these upgraded interiors already rival the submarket’s best, new ownership still has the opportunity to implement a niche, luxury finish package that would differentiate Hudson Montford as the submarket’s crown jewel asset. These exquisite upgrades coupled with an average floorplan size 200+ square feet larger than neighboring infill submarkets provide new ownership a unique opportunity to close the $200 rent gap to nearby competitors as well as the $425 rent gap to the neighboring submarket of South End.
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Under Contract
Hudson Montford
204 Units
1420 Estates Avenue
Charlotte, NC  28209
Type: Conventional
Posted: 9/2/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the Mock Judson Mill, a Historic Rehabilitation project in Greensboro, NC. The building has been vacant since 1997 and was placed on the National Register of Historic Places in 2011. The proposed project will consist of 173 units with diverse floorplans, high end finishes, and a multitude of excellent community amenities. Mock Judson Mill is located in a top submarket projected to see 4.4% YoY rent growth through 2025. Furthermore, incoming ownership can capitalize on the North Carolina State Mill Rehabilitation Tax Credits which brings in state and municipal support to execute the project.
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Under LOI
Mock Judson Mill
173 Units
2610 Oakland Avenue
Greensboro, NC  27403
Posted: 9/10/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 23-acre Navassa Road Land located in Leland, North Carolina. Situated within an opportunity zone inside the fastest growing town in NC, the site is in a prime location for new development with lenient zoning standards of 24 dwelling units per acre. Located only 4 miles from a booming downtown Wilmington, Navassa Road Land is perfectly situated to experience all that Wilmington has to offer, while Leland implements developmental changes to its infrastructure in order to capture the 73% population growth the town has achieved since 2010. The site is in the heart of Leland’s Gateway District - an area the town has prioritized for immediate infill redevelopment. Navassa Road Land is poised to benefit from upward trending demographics and continual redevelopment growth plans, including the rebranded Leland Innovation District, that will reward developers for decades to come.
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Under Contract
Navassa Road Land
   
Navassa Road
Leland, NC  28451
Posted: 6/8/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 200-unit North Oaks Landing 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 22% 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 supported value-add initiative targeting unit interior upgrades, with potential to increase NOI by 32%. North Oaks Landing 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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North Oaks Landing
200 Units
2038 Quail Forest Drive
Raleigh, NC  27609
Type: Conventional
Posted: 10/20/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of 24.36-acre Overlook at Intracoastal development opportunity in Santa Rosa Beach, Florida, nestled within the 6th fastest growing county in the country. This site offers one of the only potential multifamily land developments in South Walton, as the surrounding area comprises of nearly 20,000 acres of protected forest and park-lands, leaving developable land scarce to find. As population surges in the Walton County area, rental rates and developments are quick to follow with the immediate area realizing 24% rent growth YoY while over $1.5B in capital investments will be deployed in northwest Florida for economic and infrastructure enhancements. The submarket is attracting a stronger demographic base more than ever, with average household income of $118K that is poised to increase 8.6% by 2025, 73% White Collar Workforce, and 52% of residents hold a bachelor’s degree or higher within a 5-mile radius. This may be one of the last multifamily development opportunities within 10 minutes of the #1 ranked beach in the country (2020), Grayton Beach State Park.
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Overlook at Intracoastal Land Development
   
177 Apostles Way
Santa Rosa Beach, FL  32459
Posted: 8/30/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 464-unit Pine Crest apartment community located in North Charleston, SC. The 42-acre site is strategically located near the eclectic neighborhood of Park Circle, offering varied dining and entertainment options, as well as the evolving Charleston Navy Base & Shipyard and easy access to I-26. As one of the few workforce housing assets in the Park Circle submarket, Pine Crest has ideal access to multiple large employers and variety among employment options. Built in 1945 and situated on 42 acres, Pine Crest offers an outstanding opportunity to invest in a value-add proposition that is strongly supported by large rent deltas with rent comparables in the market. In addition to the value-add opportunity, investors will be able to acquire 42 favorably-located acres in a dynamic and growing submarket, expected to only improve with the projected transformative construction and reuse projects planned and currently underway in the area.
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Under Contract
Pine Crest
464 Units
1920 McMillan Ave
North Charleston, SC  29405
Type: Conventional
Posted: 1/26/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 22-acre, Reserve at Battery Creek Land site located in the rapidly-expanding Beaufort, SC. With the potential to build medium density residential in an unmatched location, future residents will consider this site as an opportunity to enjoy waterfront views of Battery Creek with dock access at a discount to home ownership. The Hilton Head-Bluffton-Beaufort market is seen as an attractive destination for residents fleeing larger U.S. cities with dense infrastructures, migrating towards coastal markets. These trends, which were only amplified by the pandemic, explain the market’s population surge of 58% since 2000, all while experiencing consistently strong rent growth. The property has a dock permit with a total of 192 feet of boat mooring length, making this the only multifamily site in Beaufort County that is approved for a boat dock on deep water. With site plans and permits approved, along with resubmission plans nearing the finish line, The Reserve at Battery Creek Land site offers developers a chance to takeover an opportunity with much of the heavy lifting out of the way.
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Under LOI
Reserve at Battery Creek Land
22 Acres
45 Belleview Bluff
Beaufort, SC  29902
Type: Land
Posted: 5/20/2021