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The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of 3237 East Apartment Homes, a 130-unit apartment community located in Greensboro, NC. This asset is situated in a desirable North Greensboro pocket, which currently ranks #1 in the market for annual effective rent growth and occupancy. Robust demographics, high barriers to entry, and exploding home value growth also contribute to the property’s strong positioning. Yanceyville Street and E. Cone Blvd allow residents to seamlessly connect to the plethora of retail, dining, and entertainment nearby. Strong economic drivers, including VF Corporation, Cone Health, and Honda Aircraft, are within minutes, while major corporate expansions including Toyota and Amazon, further confirm the positive momentum of Greensboro's economy. Built in 1988, 3237 East Apartment Homes represents an outstanding opportunity to invest in an ideal value-add program with potential to earn revenue by submetering for water/sewer, adding washers and dryers, and bringing two non-revenue units online. After completing these proposed projects, new ownership will boost NOI by $339K and achieve a 27% ROI.
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3237 East Apartment Homes
130 Units
3237 Yanceyville Street
Greensboro, NC  27405
Type: Conventional
Posted: 1/25/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of 600 Station Square, a 48-unit apartment community located in Greensboro, NC. This brand-new boutique asset is currently in lease-up and is situated in an extremely desirable Greensboro submarket. The submarket is characterized by high quarterly effective rent growth (18.6% in Q2 2022), high barriers to entry (zero units being proposed/under construction in the immediate area), and attractive demographics (over 59% white-collar workers). Of the 7 Greensboro Winston-Salem submarkets, this submarket ranked #1 for overall average occupancy (97.9%) in Q2 2022. Spring Garden Street and West Wendover Avenue are adjacent to the property, allowing residents immediate access to the plethora of retail, dining, and entertainment the nearby area offers. The industries of manufacturing, healthcare, and education anchor the Greensboro economy, with top employers within minutes of the property. Having realized the appeal of the Triad’s economy, six major corporations have made plans to expand in/move to the area. Toyota, Cone Health, Amazon, Publix, Guerrilla, and Boom Supersonic will all be fully operational in the Triad by 2025. Built in 2022, 600 Station Square represents exceptional opportunity to acquire a beautifully built asset and gain almost $43K in additional revenue by implementing other streams of income.
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600 Station Square
48 Units
600 Coapman Street
Greensboro, NC  27407
Type: Conventional
Posted: 9/23/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the +/- 58.96 acre Avion Master Planned Community Development Site. Aptly named with a nod to its former use as the Albemarle Airport, the Avion site is approved for 360 conventional apartment units, 261 townhomes, and a 155 unit senior living center. Located in a region of lakes and natural beauty and offering three different housing types, the site has potential to attract a wide range of future residents. Government projects including widening nearby NC 24/27 and the future opening of the Albemarle Business Center should foster continued economic growth in the direct vicinity of the Avion site. There is a lack of Class A multifamily product in Stanly County and less than 2% vacancy, so the Avion Master Planned Community Development Site would be a welcomed addition to the market.
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Avion Master Planned Community Development Site
58.98 Acres
Henson Street
Albemarle, NC  28001
Type: Land
Posted: 1/11/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the +/- 57.98 acre Cannon 35 Master Planned Community Development Site. The site successfully went through rezoning to allow for 730 multifamily units: 360 apartment units, 215 townhomes, and a 155-unit senior living center. Plans also call for two commercial out-parcels. Located off I-85 and just 35 miles from Uptown Charlotte, the area surrounding Cannon 35 and the broader Kings Mountain market is poised for significant growth. Large-scale nearby projects like the Catawba Two Kings Casino, Albemarle Corp.’s new lithium facility, and over two and half million square feet of proposed and under development industrial space bode well for the submarket’s economy and its residents. Voted the Healthiest Housing Market in the country just a couple years ago, Kings Mountain maintains strong fundamentals for a large multifamily development, such as Cannon 35, to thrive.
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Cannon 35 Master Planned Communit Development Site
57.98 Acres
Margrace Boulevard
Kings Mountain, NC  28086
Type: Land
Posted: 1/12/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the +/- 29.768 acre, Cottages at Clovis Point Development Site. The age-restricted (51+) development site has successfully gone through the rezoning process to allow for 80 single family units. The site is well located to allow for expedited access to the local retail and attractions of Kings Mountain and Charlotte via I-85. Large-scale nearby projects like the Catawba Two Kings Casino, Albemarle Corp.’s new lithium facility, and over two and half million square feet of proposed and under development industrial space bode well for the submarket’s future. Voted the Healthiest Housing Market in the country just a couple years ago, Kings Mountain maintains strong housing fundamentals today. The Cottages at Clovis Point is an attractive opportunity to capture the growing demographic of adults interested in convenient build-to-rent housing with easy access to city luxuries.
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Cottages at Clovis Point Development Site
29.77 Acres
Kings Mountain Blvd
Kings Mountain, NC  28086
Type: Land
Posted: 1/13/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 184-unit Cross Hill apartment community located in booming Columbia, SC. This asset is situated in the desirable Central Columbia area just over 3 miles from downtown Columbia, providing residents seamless connectivity to premier retail and top employment nodes. The property’s exceptional micro location boasts blue-chip demographics including high avg. HHI ($86k+), a dominant white-collar workforce (72%), and impressive projected rent growth (22% through 2026). In a sought-after pocket of Richland County, residents at Cross Hill enjoy walkability to over 255k SF of high-end retail in their own backyard including Whole Foods and Athleta, with Target, World Market, and Publix less than a mile away. Built in 1972, Cross Hill arrives to market meticulously maintained with a proven Class-A value-add campaign ($200+ avg. premiums) for investors to complete on all units to push rents $215+, aligning the asset with top submarket competitors.
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Cross Hill
184 Units
4427 Blossom Street
Columbia, SC  29205
Posted: 5/13/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the +/- 5.03 acre Indian Trail Townhome Development Site. Plans call for 31 build-to-rent townhome units to be built on the site, which will benefit from its exceptional accessibility to major transportation arteries and abundant retail. The LYNX Silver Line’s final stop could be just one mile away from the site, as shown in current transportation plans. Demographics in the submarket are strong, with an average HHI of $120K and excellent public schools servicing the area. As Charlotte remains one of the country’s fastest growing cities, its suburbs to the southeast in Union County are expected to continue to steadily draw new residents for the foreseeable future. Build-to-rent remains a hot product type for both renters and investors, and a growing market like Indian Trail is prime for this sort of townhome development.
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Indian Trail Townhome Development Site
5.03 Acres
100 Plyler Road
Charlotte, NC  28087
Type: Land
Posted: 1/12/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 180-unit Madison Woods apartment community located in Greensboro, NC. This asset is situated in the desirable West Greensboro submarket, surrounded by a multitude of high end stores, restaurants, and entertainment within a 2.5 mile radius. Madison Woods is less than 2 miles from I-840, which provides easy connectivity to the plethora of employment drivers in the Triad. Toyota, Cone Health, Boom Supersonic, Publix, and Amazon have plans to expand in the area, adding to the significant economic growth that the Triad is currently experiencing. Built in 1968, Madison Woods offers an outstanding opportunity to complete a proven, in-place value-add program and boost NOI by 25%.
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Madison Woods
Offers Due:  Thursday, March 9, 2023
180 Units
5505 Tomahawk Drive
Greensboro, NC  27410
Type: Conventional
Posted: 1/30/2023
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. This asset is strategically located in a unique market, anchored by Camp Lejeune Marine Base and just 2 miles from Marine Corps Air Station New River. Built in 1971, Osprey Cove North offers an outstanding opportunity to invest in a quality, low maintenance asset that has received close to $600K in capital improvements since March 2021. Continuing the proven value-add initiative at Osprey Cove North could potentially boost the trailing 12-month NOI by over 37%. With only 56 unit deliveries since 2015 and nearly zero deliveries projected through 2024, the lack of development pipeline will continue to drive rent increases in Jacksonville’s low-risk, stable economy.
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Osprey Cove North
236 Units
118 Broadhurst Road
Jacksonville, NC  28540
Type: Conventional
Posted: 8/15/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Park Ridge, a 122-unit Build-to-Rent townhome community in Myrtle Beach, SC on a forward sale transaction. The property is strategically located in the nation’s fastest growing city, boasting 32% population growth since 2011. Situated in the market’s primary recreation node, Park Ridge offers unbeatable access to the area’s top retail and entertainment, including the 162-acre North Myrtle Beach Sports Complex and the east coast’s largest wake park next-door. Myrtle Beach’s rapidly expanding millennial and boomer demographic bases highlight the submarket’s unique ability to support unprecedented growth within the Build-to-Rent space, as skyrocketing home-ownership costs and limited supply continue to price prospective home-buyers out of the market. Delivering in 2023, the Class-A community will feature best-in-class finishes and amenities, appealing to the area’s established tenant base who desire the conveniences of single-family living without the burdens and increasing financing costs of ownership. Market comparables and submarket projections outline the property’s vast rent potential (almost $2,400 at first CO), and highlight incoming ownership’s opportunity to acquire a differentiated, high-quality asset at an extremely attractive basis.
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Under LOI
Park Ridge
122 Units
Champions Blvd
Myrtle Beach, SC  29577
Type: Build for Rent
Posted: 7/12/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Pointe Grand, a premier 288-unit apartment community located in a bustling Greenville, SC market. Situated just south of downtown in an area experiencing rapid economic growth through the extension of the Swamp Rabbit Trail, downtown Mauldin’s City Center redevelopment and the new town center of BridgeWay Station, the Simpsonville submarket continues to prove out its heightened multifamily desirability. The property’s proximate location offers residents direct access via I-26 and I-385 to a number of Greenville County’s largest employers with over 59k jobs in 15-miles and top retail centers like the Simpsonville retail corridor, Mauldin Square and downtown Greenville. Furthermore, residents at Pointe Grand enjoy first class interior finishes with incredible attention to detail, spacious units with open layouts and a top-notch amenity package unmatched by competitors. Built in 2022, Pointe Grand offers an exceptional opportunity to acquire a one-of-a-kind asset with tons of embedded upside through leasing, staggering projected rent growth (22% through 2027) and a $250+ rent delta between comparable properties.
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Pointe Grand Simpsonville
288 Units
8001 Pointe Grand Place
Simpsonville, SC  29680
Type: Conventional
Posted: 8/16/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Riverwood Apartments, a 206-unit apartment community located in the rapidly expanding city of Wilmington, North Carolina. The 2022-built asset is strategically located in one of the East Coast’s fastest growing cities, seeing 37% population growth since 2010 alone. As population continues to swell, rents in the area are skyrocketing, with 25% rent growth expected by 2027. The property’s long-term desirability is bolstered by its increasingly affluent micro location ($82k+ Avg. HHI) and proximity to the city’s major entertainment & employment centers, including more than 200 new six-figure jobs at the nearby Live Oak Bank Headquarters. Riverwood has demonstrated excellent pace during lease-up thus far, averaging 24 move-ins per month from August 2022 through January 2023, while simultaneously escalating rental rates. Comprised of 42% townhomes and constructed with state-of-the-art finishes, Riverwood represents an outstanding opportunity to acquire one of the market’s top-quality assets, offering a clear path to close the $215 rent runway by signing leases at the proven rates.
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Riverwood Apartments
Offers Due:  Thursday, March 2, 2023
206 Units
3510 Corder Drive
Wilmington, NC  28412
Type: Conventional
Posted: 2/7/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 8.39 acre, Build-to-Rent development opportunity located in the surging Simpsonville area of the Greenville MSA, SC only 20 minutes from Downtown Greenville, in the heart of the ‘Golden Strip’ area, one of the fastest growing regions in the Southeast. The entitled land is zoned by-right for 14 units per acre (117-unit maximum density), and significant due diligence has been completed for a site plan of 101 Build-to-Rent Townhome units, giving developers the flexibility to leverage the current template or implement their own plans. The Simpsonville BTR site is positioned in the southeastern submarket of the Greenville MSA, within one of the fastest growing and affluent markets in South Carolina, with 37% population growth in the last 10 years and $109,200 average HHI within a 1-mile radius of the site.
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Simpsonville BTR Development Site
8.39 Acres
215 Stenhouse Rd
Simpsonville, SC  29680
Type: Land
Posted: 6/1/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Grove, a 178-unit apartment community located in Raleigh, NC. This asset is situated in a thriving pocket of West Raleigh, characterized by an affluent rental base, top rated schools, high home values (averaging $420K), and exceptional rent growth (20.3% Q1 2022). Less than 10 minutes away from the heart of Raleigh, the asset’s immediate location is emersed in some of the best retail, dining, and entertainment the city has to offer. Among the top three hottest job markets in the country, Raleigh is rapidly expanding with major mixed-use and office development projects currently underway. Thoroughfares I-440 and I-40 instantly link residents to the Triangle’s top employers, including Research Triangle Park, UNC Chapel Hill University/Healthcare, and Duke University/Healthcare. Built in 1972, The Grove represents an outstanding opportunity to invest in a well-maintained asset and complete a rewarding and proven value-add program to achieve an additional $264K in additional revenue.
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Under Contract
The Grove
178 Units
3926 Marcom Street
Raleigh, NC  27606
Posted: 5/18/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 6.68-acre, The Grove at Orange Beach development opportunity located in Orange Beach, Alabama. This asset is situated in a PUD zoning district within the fastest growing county in Alabama, offering developers a favorable density of 42 units per acre. A highly sought-after school system paired with an upward trending demographic base is steadily increasing the demand for Class A product, as rent levels have increased 33% over the past 5 years and expect to average another 8% increase each year over the next two years. This site offers deeded beach access, providing a competitive advantage over future multifamily projects. The Grove at Orange Beach offers the future developer the opportunity to build the first high-end, large-scale apartment community along Perdido Beach Boulevard and the site is poised to reward developers as vacancies trend downward and rent growth surges during the massive migration to coastal cities.
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Under Contract
The Grove at Orange Beach
6.68 Acres
3001 Loop Road
Orange Beach, AL  36561
Type: Land
Posted: 10/21/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Tidal Bluff, a 30-unit gated town home community located in Hilton Head Island, SC. Ideally located alongside scenic tidal marshes, the property is within walking distance to the beach and just minutes from top retail including Publix, Harris Teeter, Starbucks and more. The high-end submarket boasts top-tier demographics, with average HHI of $128k and average homes value of $770k. The asset offers near term stability through 2 master leases, guaranteeing 3.5%+ rent growth and 100% occupancy through 2025. Simultaneously, it offers dramatic rent growth potential, as nearby comps offer up to $2,500 in headroom. The waterfront site is zoned for additional density, allowing incoming ownership the opportunity to double the existing unit count. The island’s extremely high barriers to entry have resulted in less than 800 units delivered since 1990, highlighting Tidal Bluff as an exceptionally rare opportunity to invest in one of the Southeast’s most affluent and highly coveted coastal markets.
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Tidal Bluff
30 Units
5 Tidal Bluff Road
Hilton Head, SC  29926
Type: Build for Rent
Posted: 1/17/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 291-unit Wilmington Commons apartment community located in Wilmington, NC. This asset is situated in the heart of Wilmington, which is characterized by a soaring population, rising home values, and exceptional universities. In Q2 of 2022, annualized market rents grew at an astonishing 21.4% with favorable fundamentals supporting long term growth. The immediate area is comprised of affluent renters (47.7% of the population) that are over 65% white collar and average +$80K in median household income. Residents of Wilmington Commons have instant access to the College Road Corridor, which provides a plethora of retail, entertainment, and lifestyle amenities less than 1 mile away from the asset. The fruitful industries of manufacturing, technology, and banking ground the Wilmington economy, which is experiencing a major economic boom. Major economic drivers, including Amazon, Megacorp Logistics, and the Port of Wilmington have recently announced plans to move to/expand in the area. Built in 1991, Wilmington Commons offers compelling opportunities to increase NOI by (1) increasing below-market in-place rents to market, generating an expected $367K of incremental NOI (2) upgrading unit interiors, generating an expected $524K of incremental NOI, (3) adding washer & dryers, generating an expected $175K of NOI for a total un-trended NOI lift of $1.1M.
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Wilmington Commons
291 Units
455 Racine Drive
Wilmington, NC  28403
Posted: 8/16/2022