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The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 66-unit 2200 Midtown apartment community located in Greensboro, NC. This asset is firmly situated in a top performing submarket of the Triad with strong fundamentals and outstanding demographics, outpacing the broader metro on nearly all indicators. Built in 1965, 2200 Midtown offers a 77% completed value add program that is commanding solid premiums of over units leasing with standard features. As submarket household incomes approach $90K+ paired with a muted delivery pipeline, the market indicates support for higher-end finishes as Greensboro shifts its focus to target a white-collar workforce through educational attainment. Investors have the opportunity to increase annual income by $48K by pushing rents to achieve market supported premiums in a top Triad submarket for rent growth.
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Under Contract
2200 Midtown
66 Units
2200 Cornwallis Drive, West
Greensboro, NC  27408
Type: Conventional
Posted: 9/1/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 112-unit Bellevue Mill Apartments located in Hillsborough, NC. The asset offers a unique opportunity to acquire the Managing Membership interest in a recently restored cotton mill apartment community completed through Historic Tax Credits. Listed on the National Register of Historic Places, Bellevue Mill is strategically located in a highly educated and high income market within the Triangle MSA. With $18.5M completed in construction and renovation costs, new ownership will be able to capitalize on a solid foundation established through a successful lease up in a supply constrained market with high barriers to entry. With an exceptional location and positive supply-demand dynamics in the Hillsborough/Chapel Hill multifamily market, Bellevue Mill is an attractive investment opportunity that will continue to enjoy organic rent growth as market fundamentals normalize.
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Under Contract
Bellevue Mill
112 Units
206 South Nash Street
Hillsborough, NC  27278
Type: Conventional
Posted: 7/13/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 45-unit, Monarch apartment community located in Durham, NC. Built in 1965, the property recently completed high-end unit turns, providing investors with a competitive asset at a discount to replacement cost. The surrounding market indicates that potential investors can take the current mid-tier renovations a step further with the opportunity to boost NOI by over 61% through implementation of an enhanced value add program. As Downtown Durham continues to revitalize its infrastructure, this quality, low maintenance 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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Monarch
Offers Due:  Wednesday, February 17, 2021
45 Units
1001 Ruby Street
Durham, NC  27704
Posted: 1/12/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 236-unit Osprey Cove North apartment community located in Jacksonville, NC. The asset is strategically located two miles from Jacksonville’s 2nd largest employer, Air Station New River (18,100 jobs). The property has received a capital infusion of $1.17M over the past 3 years, prepping the community for a proven value-add initiative that could potentially boost the trailing 2-month NOI by 11%. With 28 new deliveries since 2014 and nearly zero deliveries projected through 2023, the lack of a development pipeline will continue to drive rent increases as Jacksonville’s low-risk, stable economy.
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Under Contract
Osprey Cove North
236 Units
118 Broadhusrt Rd
Jacksonville, NC  28540
Posted: 5/5/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 8.83 acre Southpark Boulevard Land site located in Winston-Salem, NC. As part of a Master Planned Community called Heritage Park, the land is approved for 172 apartments, is mass graded, has utilities located on site, and is currently listed at $950,000. The property is located in South Winston-Salem, the submarket leader in annual rent growth and occupancy in 2019. The property is situated along the Peters Creek Parkway Growth Corridor, a targeted initiative recently approved by the City Council, that has already seen momentum build indicated by rising property values. This site offers investors a unique opportunity to invest in a growing Winston-Salem market which boasts low unemployment, trivial delivery pipeline, and a majority white-collar workforce.
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Under Contract
Southpark Boulevard Land
8.83 Acres
0 Grand Silo Way
Winston-Salem, NC  27127
Type: Land
Posted: 7/8/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Park at Village Oaks, 124-unit apartment community located in growing Leland, NC. Built in 2007, this property has carried out an extensive interior upgrade initiative, providing investors with a quality, competitive asset at a discount to replacement cost. With the heavy lifting out of the way, investors will have the opportunity to shift their focus to implement additional revenue streams, offering a potential 9% boost to annual NOI. Located only 4 miles from a booming downtown Wilmington, The Park at Village Oaks is perfectly situated to experience all Wilmington has to offer. In addition to the locational benefits of the Wilmington MSA, the site is in the heart of Leland’s Gateway District – an area the town has prioritized for immediate infill redevelopment.
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Under Contract
The Park at Village Oaks
124 Units
136 Parsley Lane
Leland, NC  28451
Posted: 10/1/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Pines of Wilmington, a 233-unit apartment community in Wilmington, NC. Bolstered by recent capital improvements and robust operational momentum, The Pines of Wilmington offers investors a potential 38% boost to annual NOI through completion of an underway, proven value-add program. The asset is firmly cemented in a strong apartment market that is primed to benefit from development expansion moving southward. Furthermore, The Pines of Wilmington is near the principal economic drivers and premier retail nodes of Wilmington – an MSA characterized by rapid population growth, an expanding employment nucleus, and attractive demographics.
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The Pines of Wilmington
Offers Due:  Wednesday, January 27, 2021
233 Units
1002 Mayflower Drive
Wilmington, NC  28412
Type: Conventional
Posted: 12/16/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 332-unit Village 1373 apartment community located in Greensboro, NC. This asset is firmly situated in a top performing submarket of the Triad with strong fundamentals and outstanding demographics, outpacing the broader metro on nearly all indicators. As submarket household incomes approach $90K+ paired with a muted delivery pipeline, the market indicates support for higher-end finishes as Greensboro shifts its focus to target a white-collar workforce through educational attainment. Built in 1987/1996, Village 1373 has received $1.6M in capital improvements since 2018 and offers new ownership the ability to complete a value-add program to generate an additional $368K in annual income and boost NOI by 26%.
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Under Contract
Village 1373
332 Units
1373 Lees Chapel Road
Greensboro, NC  27455
Type: Conventional
Posted: 9/29/2020