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The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of April Leigh, a 57-unit, 2023-constructed build-to-rent community located less than 10 minutes from one of the State’s biggest employment centers (4,500+ jobs). April Leigh is a purpose-built detached BTR community nestled in the I-20 corridor with direct access to Tuscaloosa (20 minutes) and Birmingham (30 minutes). The property benefits from being one of two BTR assets in a supply constrained market, where average annual rent growth the past three years is 5%+. The property sits 24 miles via Interstate-20 from Tuscaloosa and the University of Alabama which is the fastest growing college in the nation boasting $2.8B in economic impact in Tuscaloosa. Mercedes-Benz’ multi-billion automotive Tuscaloosa plant is less than 4 miles from the subject.

The community features 100% 4 & 5 BR detached homes averaging 2,368 SF, attached garages, private fenced yards and premiere unit features offering residents a quality home with professional property management efficiencies. Arriving to market midway through an excellent lease-up, the community is poised to be a rent leader in a market with limited new supply of conventional multifamily and institutionally developed BTR communities.

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April Leigh
57 Units
11388 Tingle Tangle Rd
Vance, AL  35490
Posted: 6/28/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Berry Falls, 120 units located in Vestavia Hills, AL, and The Jameson, 198 units in Homewood, AL. These garden-style apartment communities are located within two of Alabama’s most prized suburbs poising the properties for future growth and success. Both municipalities heavily restrict new multifamily development creating a significant barrier to entry. The assets arrive to market with strong occupancy trends and robust income growth YoY. Current ownership has maintained and recently renovated these properties creating an attractive basis in which the next investor can capitalize upon. Berry Falls, built in 1972, and The Jameson, built in 1971, allow for an investor to acquire scale within tightening submarkets. Berry Falls and The Jameson offer an outstanding opportunity to invest in well-maintained assets in extremely desirable submarkets.
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Berry Falls & The Jameson (2 properties, 318 units)
Berry Falls
120 Units
2927 Columbiana Court
Vestavia Hills, AL  35216
Posted: 5/17/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Boracay Cove, 86 units located in Pace, FL, and Monarch Place, 137 units in Pensacola, FL. These newly constructed build-to-rent (BTR) communities are located in two high growth suburbs of the Pensacola MSA (7% annual rent growth since 2018). Each asset is within minutes of thoroughfares (I-10, I-110 & US-90) thus providing residents convenient accessibility throughout the metro. Bolstered by limited rental supply of 4BR+ units and favorable submarket fundamentals, both assets arrive to market with outstanding lease-up trends (30+ combined move ins per month). Constructed in 2023, Boracay Cove and Monarch Place offer new ownership an outstanding opportunity to acquire strategically located, high performing BTR assets in high growth emerging markets.
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Boracay Cove & Monarch Place (2 properties, 223 units)
Boracay Cove
86 Units
4765 Malay Circle
Pace, FL  32571
Type: Build for Rent
Posted: 6/14/2023

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Kipling, a 118-unit Built-To-Rent (BTR) community located in Baldwin County (Foley), AL. Kipling arrives to market as one of the region’s premier single family, detached BTR communities in Baldwin County. The asset is located in the rapidly expanding Foley submarket, recently ranked the highest-growth pocket in Baldwin County. With pristine beaches less than 12 minutes away ($5B+ economic impact) and retail-attractions within a short drive, Kipling offers residents a desirable, single-family suburban lifestyle.

Fully delivered in 2023, the community features a desirable unit mix of 3-5 BR detached homes averaging 1,777 SF, attached garages, private fenced yards & top-of-the-line technology packages. Lease-up performance is strong as average loss-to-lease is less than 1%. Submarket rent growth has averaged 5%+ annually since 2017 while occupancy remains at 95%. Kipling offers new ownership an outstanding opportunity to acquire a sizeable BTR asset in AL’s fastest growing county.

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Kipling Meadows
118 Units
7959 Mandalay
Foley, AL  36535
Type: Build for Rent
Posted: 8/2/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Marbella, a 96-unit, 2021-built apartment community located in the highly sought after and rapidly growing Baldwin County. Marbella offers residents a beach-style living experience with close proximity to all of Gulf Shores’ lifestyle Amenities. The area is home to some of the nicest beaches in the U.S. which continue to drive strong population and rent growth (8.9% YoY since 2021). Since the beginning of 2022, Marbella has organically pushed rents 15.5%+ on renewals and new leases and arrives to market 95.8% occupied. The Baldwin County market has benefitted tremendously due to the lack of new competitive supply with no units being built between 2009 and 2019. In addition, Baldwin County is the 4th fastest growing small metropolitan area in the U.S. with the Gulf Shores area growing by 73% since 2010 providing further growth for assets such as Marbella. Built in 2021, Marbella represents an outstanding opportunity to invest in a high performing asset with attractive assumable HUD loan in the highly sought after and rapidly growing Baldwin County.
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Under Contract
Marbella
96 Units
1910 East 1st Street
Gulf Shores, AL  36542
Posted: 5/2/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Renaissance Santa Rosa, 229 units in an irreplaceable location minutes from some of Florida’s nicest beaches. The 2021 built property is situated in the rapidly expanding Okaloosa County MSA, which has experienced 9%+ YoY market rent growth and offers residents quick access to major employers, retail vendors, community amenities and outdoor recreation. Renaissance Santa Rosa is now 95% occupied following explosive lease up trends. Since 2021, Renaissance Santa Rosa has shown and increase of 41%+ on lease trade outs and 39%+ on lease renewals. The property boasts unmatched amenities and finishes in the marketplace and has attractive assumable in-place HUD debt.
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Renaissance Santa Rosa
229 Units
200 Page Bacon Rd
Mary Esther, FL  32569
Type: Conventional
Posted: 5/8/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive offering of the 260-unit Stonegate apartment community located in Birmingham, Jefferson County, AL with below market assumable debt. This asset is situated in the expanding Oxmoor Valley economic corridor, just north of the $60M Renaissance at Ross Bridge Luxury Resort. The property offers residents convenient access to Samford University (5,700+ Students), the University of Alabama at Birmingham (UAB) and its combined 45K+ combined jobs and students, and the top Hospitals and employment drivers in the MSA. Stonegate also presents the opportunity to assume attractive, in-place financing, with rates well-below current market availability. Built in 2008, Stonegate offers an outstanding opportunity to invest in a high performing asset, while also capitalizing on a proven value-add campaign.
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Stonegate
260 Units
101 Leaf Lake Boulevard
Birmingham, AL  35211
Type: Conventional
Posted: 5/9/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Bell Lofts – 88 fully renovated, Class A units located in the heart of Historic Downtown Montgomery, AL. Redeveloped in 2019, The Bell Lofts now represents the tallest rental community in Downtown and boasts full interior, exterior and amenity renovations. The asset provides residents convenient access to employment hubs and walkability to top-tier dining and entertainment venues off Commerce Street and Fountain Square. Arriving to market with impressive performance (98% T12 avg. occ.), The Bell Lofts offers new ownership an outstanding opportunity to acquire a heavily capitalized, desirably located asset with excellent trends in place.
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Under LOI
The Bell Lofts
88 Units
207 Montgomery St
Montgomery, AL  36104
Posted: 6/7/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Charles, a 192-unit institutional asset strategically located in historically underserved Destin, Florida. The asset is ideally situated within walking distance of Florida’s Gulf Coast, offering residents convenient access to some of the most renowned beaches in the United States. The Charles offers residents a beach-style living experience with immediate proximity to all of Destin’s unique and high-quality lifestyle amenities. Furthermore, Destin boasts an outstanding demographic profile with $115K+ average household income within two miles of the asset. Since delivering its first units in September 2021, management has successfully pushed rents over 23%. The Charles premier finishes, curated amenities, and first-class location present an outstanding investment opportunity. The Sponsor is seeking a loan commitment at 60%-65% LTV on a 5 year targeted hold period, with a 90/10 equity split.
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The Charles
192 Units
1015 Highway 98 East
Destin, FL  32541
Type: Conventional
Posted: 3/20/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 232-unit Crossings at Tunica apartment community located in Tunica Resorts, MS. This asset is situated adjacent to the booming Tunica Casino industry, responsible for inserting 4,400+ jobs into the community, and only 17 miles from the Memphis MSA (1.4M+ population). With 80%+ of the property remaining as classic units, Crossings at Tunica presents the next investor the opportunity to round-out the remaining renovations and boost bottom-line NOI by $173K+. Built between 2001 and 2004, Crossings at Tunica represents an outstanding opportunity to invest in a proven value-add asset, offered at a compelling basis well below current replacement costs.
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The Crossings at Tunica
232 Units
2634 East Lake Boulevard
Robinsonville, MS  38664
Type: Conventional
Posted: 7/11/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Grove, a 66-unit, 2022-constructed build-to-rent community located just 11 miles from downtown Tuscaloosa, AL. The Grove is the first purpose-built detached BTR community in the Tuscaloosa MSA. The property benefits from being one of two BTR assets in a supply constrained market, where average annual rent growth the past three years is 5%+. The property sits 11 miles from Tuscaloosa and the University of Alabama which is the fastest growing college in the nation boasting $2.8B in economic impact in Tuscaloosa. The community features 100% 4 & 5 BR detached homes averaging 2,143 SF, attached garages, private fenced yards and premiere unit features offering residents a quality home with professional property management efficiencies. Arriving to market midway through an excellent lease-up, the community is poised to be a rent leader in a market with limited new supply of conventional multifamily and institutionally developed BTR communities
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Under Contract
The Grove at Glen Ridge
66 Units
12898 Grove Circle
Moundville, AL  35474
Type: Build for Rent
Posted: 6/16/2022
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 Berry Falls, 120 units located in Vestavia Hills, AL, and The Jameson, 198 units in Homewood, AL. These garden-style apartment communities are located within two of Alabama’s most prized suburbs poising the properties for future growth and success. Both municipalities heavily restrict new multifamily development creating a significant barrier to entry. The assets arrive to market with strong occupancy trends and robust income growth YoY. Current ownership has maintained and recently renovated these properties creating an attractive basis in which the next investor can capitalize upon. Berry Falls, built in 1972, and The Jameson, built in 1971, allow for an investor to acquire scale within tightening submarkets. Berry Falls and The Jameson offer an outstanding opportunity to invest in well-maintained assets in extremely desirable submarkets.
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Berry Falls & The Jameson (2 properties, 318 units)
The Jameson
198 Units
1301 Lakeshore Place
Homewood, AL  35209
Type: Conventional
Posted: 5/17/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 174-unit Lory of Hoover apartment community located in Birmingham, AL. This asset is situated less than a mile south of the I-459 and I-65 Interchange, allowing residents to experience convenient access to all of Birmingham’s employment opportunities, retail amenities, and leisure activities. The asset exited its LIHTC program in 2020 and allows the next investor to implement a value-add campaign and further boost rents. Built in 1974, Lory of Hoover offers an outstanding opportunity to acquire a repositioned asset in a high growth submarket with proven value add upside.
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Under LOI
The Lory of Hoover
174 Units
2149 Emerald Pointe Drive
Hoover, AL  35216
Type: Conventional
Posted: 4/25/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Meridian at Fondren, a 245-unit, 2016-built apartment community located in Jackson, MS. The asset’s luxurious interiors, best-in-class amenities, and centralized location embedded amongst The University of Mississippi Medical Center (UMMC) via a ground lease with UMMC, caters to an upscale tenant base exemplified by an average household income of $88K+ within 1 mile of the asset. The asset affords residents luxurious finishes with modernized use of space while maintaining walkability to quality dining, shopping, entertainment options, along with UMMC & St. Dominic with its 13,000+ combined jobs. With strong in-place demand, management has successfully pushed rental rates $100+ on the latest leases, and the next owners can initiate a light value add program and push rents $85-$115 with minimal capital spent. Built in 2016, The Meridian at Fondren arrives to market 96% occupied with strong operational trends providing new ownership a foundation for immediate growth in an irreplaceable location in Jackson.
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The Meridian at Fondren
245 Units
802 Lakeland Drive
Jackson, MS  39216
Posted: 5/16/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Timber Leaf, a newly delivered 92-unit Build-to-Rent (BTR) community located in the low-supply, high-growth Bessemer submarket of the Birmingham AL MSA. Timber Leaf is well-positioned just minutes away from some of the metro’s biggest upcoming economic developments, most notably the upcoming $400M UAB Medical West Hospital development which delivers in 2024 (1,000+ jobs) and the upcoming $1.1 Billion Smucker’s facility which delivers in 2025 (750+ jobs). The Bessemer submarket has captured a big chunk of the metro’s job growth especially in the industrial space. Fully delivered in 2023, Timber Leaf offers an outstanding unit mix of 3-5BR detached single family homes with large floorplans (2,017 avg SF) and brick/hardi exteriors. The asset benefits from being the only BTR asset in an under-supplied submarket, which has experienced 5%+ rent growth YOY for the last 5 years. Timber Leaf arrives to market with a strong lease up (73% pre-leased occupancy) and embedded organic rent growth for the next investor.
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Under Contract
Timber Leaf
92 Units
5636 Timber Leaf Loop
Bessemer, AL  35022
Type: Build for Rent
Posted: 5/10/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Trails at Alabaster, a 200-unit apartment community located in the Alabaster municipality of Birmingham, AL. The asset is extremely well-positioned along the I-65 corridor in a supply-constrained submarket (less than 650 units delivered to the area since 2000) where rents are growing exponentially due to the lack of inventory. Trails at Alabaster offers an outstanding location for residents as it is minutes from 10,000+ quality jobs, state-ranked schools, and Class A retail space. The property is coming off an $1mm+ exterior renovation making the buyer the beneficiary of a quality physical plant and refreshed property look. Built in 1977/1986, Trails at Alabaster offers an opportunity to invest in a quality asset with excellent performance trends and additional upside remaining for new ownership.
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Trails at Alabaster
200 Units
1740 Woodbrook Trail
Alabaster, AL  35007
Type: Conventional
Posted: 6/19/2023
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of White Sands Luxury Apartments, a 268 unit, 2007-built apartment community located along Florida’s Gulf Coast. White Sands offers residents a beach-style living experience with close proximity to all of Panama City’s lifestyle amenities. The area is home to some of the nicest beaches in the U.S. which continues to drive strong population growth (6% increase since 2020). The asset arrives to market 96%+ occupied and has demonstrated a 7% increase in total operating income growth over the last 12 months. Built in 2007, White Sands Luxury Apartments represents an outstanding opportunity to invest in a quality asset in the desirable Panama City Beach submarket.
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White Sands
268 Units
302 Cabana Court
Panama City Beach, FL  32407
Type: Conventional
Posted: 7/12/2023