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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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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 Central Park a 384-unit apartment community located in Montgomery, AL. The asset is situated in the highly sought-after Midtown submarket of east Montgomery with easy access to downtown via I-85 (1 mile). Benefitting from a strong manufacturing and government-centric economy, the Montgomery metro has garnered significant capital investments, highlighted by Hyundai’s announcement to invest $410M and create an additional 1,200 jobs to build a new light truck model. Built in 2000, Central Park offers an outstanding opportunity to invest in a cash-flowing asset with significant value add upside.
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Under Contract
Central Park
384 Units
2400 Central Parkway
Montgomery, AL  36106
Type: Conventional
Posted: 8/19/2021
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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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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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 240-unit Grande View apartment community located in Biloxi, Mississippi. This asset is located between Beach Blvd and Pass Rd which offers access to two major employment centers in Gulfport and Biloxi (59K+ total jobs). Built in 2003 and well-amenitized, the asset boasts exceptional performance trends (22.8% avg. growth on leases). In addition to the property's desirable offerings, Grande View lies within one mile of over 1.3 million square feet of retail and across the street from the Biloxi beaches thus providing for a top-of-market position. Arriving to market 96% occupied, the asset offers next ownership a rare opportunity to acquire a well-performing asset with value-add upside in a highly sought-after micro location (95%+ sub-market occupancy).
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Grande View
240 Units
151 Grande View Drive
Biloxi, MS  39531
Type: Conventional
Posted: 9/8/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 240-unit Grayton on Dean apartment community located in Auburn, AL. This asset is situated in the heart of the Auburn-Opelika MSA with close proximity to Opelika Road allowing convenient access to Auburn University, the state’s #1 ranked collegiate institution as well as premiere retail destinations and other economic drivers. Following a full $3.8M+ renovation the property arrives to market 100% pre-leased with exceptional rent growth (13%+ on new leases) with further room to push rents on 2nd generation leases. Built in 1964, 1984, and 1986, Grayton on Dean offers an outstanding opportunity to invest in a newly renovated property with exceptional rent and income growth trends.
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Under Contract
Grayton on Dean
240 Units
420 North Dean Road
Auburn, AL  36830
Type: Conventional
Posted: 6/24/2021