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The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the OM for the 100-unit Berkshire Arms apartment community located in Mobile, AL. This asset sits within a well-performing multifamily submarket, which has demonstrated excellent rent and occupancy trends over the past 5 years. Located just one mile south of Airport Blvd and two miles west of the I-65 interchange, residents experience convenient access to all of Mobile’s employment opportunities, retail amenities, and leisure activities. Berkshire Arms offers an outstanding opportunity to invest in an LIHTC asset that is eligible for conventional conversion, offered at an extremely attractive basis with ample rent upside.
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Berkshire Arms
100 Units
4021 N Seabreeze Road
Mobile, AL  36609
Type: Affordable Housing
Posted: 1/11/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Bessemer Place, 136 units located in the Bessemer suburb of Birmingham, AL. Originally developed as a LIHTC asset, Bessemer Place has gone through its QC Period and is now in the process of converting to a conventional community. The next investor will enjoy both organic upside by upgrading the tenant base and value add upside by upgrading interior units. Bessemer is a rapidly expanding submarket and has become a bullseye destination for job growth, with several key job announcements including Amazon (1,500+ jobs), FedEx (285+ jobs), Mercedes-Benz (950+ jobs), Lowe’s (200+jobs) and Carvana (300+ jobs).
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Under Contract
Bessemer Place
136 Units
600 Flint Hill Road
Bessemer, AL  35022
Type: LIHTC
Posted: 9/2/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Bridge Harbor located in Panama City, FL. Bridge Harbor is a 124 unit, 2021 and 2022-built BTR asset built by the nation’s largest homebuilder, D.R. Horton. Arriving to market with excellent in-place rent growth trends, the community is poised as a market leader in its asset class and will continue to benefit as 1st generation leases turn over at higher rates. Bridge Harbor boasts $80K+ Avg. HH incomes within 1 mile of the property and is comprised of townhomes featuring 100% ground floor entry, attached garages, & premiere unit features offering residents a quality 3 BR BTR product with professional property management efficiencies. Given the strong, in-place leasing trends and high-quality residences, Bridge Harbor presents an outstanding opportunity to acquire a brand new BTR asset in a growing market.
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Bridge Harbor
124 Units
401 Rhett's Loop
Callaway, FL  32404
Posted: 12/16/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Estelle, a 280-unit, 2021-built apartment community located in Birmingham, AL. The property is situated in Midtown Birmingham which has experienced 34% rent growth among class A & B properties in the last 5 years, offers residents quick and convenient access to Samford University (5,729 students), the University of Alabama at Birmingham (UAB) and its 45K+ combined jobs and students, and the top Hospitals and employment drivers in the MSA. Estelle is now 96%+ occupied following a tremendous leasing season that averaged 53 units/month velocity from May-August 2021. The property boasts unmatched amenities and finishes in the marketplace and has maintained excellent rental growth throughout lease-up offering the next investor substantial value add upside by pushing 2nd generation leases.
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Estelle
280 Units
100 Wildwood Court
Birmingham, AL  35209
Type: Conventional
Posted: 1/13/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is excited to present the exclusive listing of Foundry Yards, a 268-unit luxury apartment community with 20K SF of future, adjacent office and retail space located in Birmingham, Alabama, which has the nation’s second lowest unemployment rate according to the Wall Street Journal and 50K+ jobs added since April 2020. Foundry Yards is anchored by Birmingham’s expansive healthcare industry with the University of Alabama at Birmingham ranking the #1 Best Large Employer in America by Forbes with a total of 23K jobs and an employment impact of 64K within a 10-minute walk of the property. Also, the asset is primed to benefit from the city’s emergence as a technology hub, ranked as #2 up and coming tech hot spots according to MarketWatch. Centralized in the newly revitalized Parkside District, Foundry Yards is positioned adjacent to multiple breweries, acclaimed restaurants, the 19-acre Railroad Park, and Regions Field which is home to the Birmingham Barons, an AA-affiliate of the Chicago White Sox. In 2021, Foundry Yards has experienced incredible leasing velocity with 45 move-ins per month and 14% effective rent growth since May.
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Under LOI
Foundry Yards
268 Units
10 13th Street South
Birmingham, AL  35233
Posted: 9/1/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Grande Pointe – 181 units in Daphne, AL. Situated along the desirable Eastern Shore of Mobile, the subject enjoys an affluent resident profile and close proximity to quality retail and employment. Located in Baldwin County, Grande Pointe belongs to the 7th fastest growing county in the US. The asset’s interior, exterior, and community amenity areas have been heavily capitalized in recent years – creating in-place organic rent growth and space for the next investor to completely round out the community. Built in 1984 (renovated 2018-2021), Grande Pointe offers an excellent opportunity to acquire a repositioned asset in a high growth submarket with proven value add upside.
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Under Contract
Grande Pointe
181 Units
133 Lake Front Drive
Daphne, AL  36526
Type: Conventional
Posted: 10/5/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 84-unit, 336-bed Huntsville Place student housing apartment community located in Huntsville, AL. This asset is situated less than one-mile northwest of the University of Alabama in Huntsville (9.5K+ students), 1.1 miles directly south of Oakwood University (1,500 students) and roughly 10 minutes away from downtown Huntsville, AL. UAH is consistently ranked as one of the best colleges in salary potential for recent graduates. The purpose-built student housing asset was completed in 2008 and is the only standalone asset of its kind that also offers large 4BD/4BA floorplans. The asset is in a market with 8% avg. rent growth since the first quarter of 2019. Boasting exceptional performance in a top investment market, Huntsville Place represents an outstanding opportunity to invest in a high-performing student asset in one of the top multifamily markets in the U.S.
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Huntsville Place
84 Units | 336 Beds
4955 Century Street NW
Huntsville, AL  35816-1973
Type: Student
Posted: 11/18/2021
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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Under Contract
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 40-unit Robertsdale Village apartment community located in Robertsdale, AL. The asset is well-located in Baldwin County, the 7th fastest growing county in the US and 1st in the state. Originally built as a LIHTC community, Robertsdale Village has completed the QC period and is currently in the 3-year decontrol period, allowing the next investor to begin converting to market-rate and bridging a $400+ rent gap to nearby comps. Built in 1996 with quality brick construction, Robertsdale Village offers an outstanding opportunity to invest in a quality, value add asset poised to generate higher returns amidst Baldwin County’s continued growth.
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Robertsdale Village
40 Units
22625 Mattingly Street
Robertsdale, AL  36567
Type: Affordable Housing
Posted: 1/13/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Sunset Village is a 233 unit, 2021-built BTR asset built by the nation’s largest homebuilder, D.R. Horton. Arriving to market with excellent in-place rent growth trends (23% rent bumps on renewals), the community is poised as a market leader in its asset class and will continue to benefit as 1st generation leases turn over at higher rates. Sunset Village boasts $124K+ Avg. HH incomes at the property and is comprised of detached homes featuring attached garages, private fenced in backyards, & premiere unit features offering residents a quality 3, 4, & 5 BR BTR product with professional property management efficiencies. Given the strong, in-place leasing trends and high-quality residences, Sunset Village presents an outstanding opportunity to acquire a brand new BTR asset in a growing market.
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Sunset Village
233 Units
5284 Emma Grace Drive
Panama City, FL  32404
Posted: 11/9/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Gateway - 59 fully renovated, Class A units completed in mid-2021 in the heart of Historic Downtown Mobile. The downtown core has seen significant transformation over recent years and will continue to see jobs, capital and residents migrate to the core, attracted by all the city and region has to offer. Redeveloped in 2021 from a historic office building, The Gateway boasts full interior, exterior and amenity renovations with unit finishes being ultra-luxuriously designed and crafted. The asset is located in Historic Downtown Mobile providing residents with convenient access to employment hubs and walkability to top-tier dining and entertainment venues. With stabilization, new ownership is perfectly positioned to capture in-place rent momentum (14%+) on 2nd gen-leases as apartment fundamentals continue to remain robust (95% market occ.) amidst a booming local economy. The Gateway represents the rare opportunity to acquire a heavily capitalized, desirably located asset with exceptional performance trends in place.
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The Gateway
59 Units
350 St Joseph Street
Mobile, AL  36602
Posted: 1/12/2022
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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The Grove at Orange Beach
375 Units
3001 Loop Road
Orange Beach, AL  36561
Posted: 10/21/2021