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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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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 East Charlotte 728 Portfolio consisting of Delta Crossing, The Avalon, and The Kelston apartment communities. The assets are situated adjacent to the 78-acre mixed-use Eastland Mall redevelopment, which is anchored by the Headquarters of Charlotte’s new Major League Soccer team. Convenient location to a desirable thoroughfare provides access to 250,000 jobs within a 15-minute drive, as well as the most popular entertainment hubs throughout the city. Strong demographic trends show a 14% increase to average household incomes over the next 5 years that will support continued rent growth. The East Charlotte 728 Portfolio represents an outstanding opportunity to realize rental premiums of up to $200 which nearby competitive properties are currently achieving in this rapidly transforming submarket.
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Under Contract
Delta Crossing
178 Units
6000 Delta Crossing Lane
Charlotte, NC  28212
Type: Conventional
Posted: 5/27/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Den on Varsity, a recently renovated, 53-unit asset located in Raleigh, North Carolina. On the west side of Raleigh, Den on Varsity is adjacent to North Carolina State University, located within one of the strongest performing MSAs in the country over the past several years. Built in 1972, the property has recently stabilized following a significant repositioning through a capital infusion of $1.29M, or $24k/unit. Den on Varsity offers an outstanding opportunity to invest in a turn key asset primed to capitalize on future rent growth in one of the most recession resistant markets in the United States.
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Under Contract
Den on Varsity
53 Units
1527 Crest Road
Raleigh, NC  27606
Type: Conventional
Posted: 7/9/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 224-unit Gleneagle apartment community located in Columbia, SC. This asset is situated in the capital city of South Carolina boasting strong submarket fundamentals including 15% projected rent growth and 13% average household income growth through 2025. Having changed between multiple management companies, current management operations are sound and trending in the right direction. Built in 1973, Gleneagle represents an outstanding opportunity to invest in a property that comes to market with a proven value-add plan set in-place by current ownership leaving 164 units (73%) to be renovated and command premiums of $125.
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Gleneagle
Offers Due:  Thursday, October 22, 2020
224 Units
601 St. Andrews Road
Columbia, SC  29210
Type: Conventional
Posted: 8/27/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 344-unit Harbor Pointe apartment community located Mount Pleasant, South Carolina. This generationally located asset is situated in the highly sought-after Charleston submarket of Mount Pleasant offering direct access to downtown Charleston, walkability to a plethora of retail, dining, and entertainment options, as well as access to the major economic drivers of Charleston. Built in 1987, Harbor Pointe offers an incredible opportunity to infuse the 32-acre property with capital to push rents over $300 and establish market presence in a top southeast location presenting high barriers to entry and untapped future potential.
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Under LOI
Harbor Pointe
344 Units
331 Harbor Pointe Drive
Mt. Pleasant, SC  29464
Type: Conventional
Posted: 9/10/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 223-unit Legacy 2000 apartment community located in Raleigh, North Carolina’s burgeoning suburb of Garner. This asset is surrounded by premier retailers and major thoroughfares, providing access to nearby employment hubs and a surging downtown. A lack of new supply, a rapidly expanding population, and perpetual growth in average household incomes have created a runway for rent growth that is poised to bounce back in a big way, as Raleigh/Durham ranks top 10 best cities to recover from the COVID-19 pandemic. Built in 1979, Legacy 2000 recently received a capital infusion of over $1.53 Million, paving the way for new ownership to take advantage of a property-proven value-add opportunity, which would boost NOI by 15%.
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Legacy 2000
223 Units
2000 Spring Drive
Garner, NC  27529
Posted: 7/7/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 233-unit, 1970-built Margate on Cone apartments located in Greensboro, NC. The property offers an outstanding opportunity to invest in a solid performing asset within the economic powerhouse of the Piedmont Triad MSA. The immediate area surrounding Margate on Cone is experiencing a significant amount of spill-over from the city’s most affluent districts, creating a path of growth and development that will help facilitate value enhancement at the property. With all but thirty-four (34) units on the property remaining untouched and rents currently trailing the submarket average by more than $100, new ownership will have the opportunity to capitalize on a two-prong, market supported value-add program through implementing an interior upgrade initiative and implementing utility reimbursements.
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Under Contract
Margate on Cone
233 Units
900 East Cone Boulevard
Greensboro, NC  27405
Type: Conventional
Posted: 7/9/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 400-unit, Marquis Gardens apartment community located in Durham, NC. Built in 1972, this asset received a capital investment of over $2 Million including a clubhouse remodel and 7 roofs replaced in 2018. The surrounding market indicates that potential investors can capitalize on a 400-unit value add program, as current rental rates trail recently renovated competitor properties by $200. Marquis Gardens provides residents, a diverse workforce ranging from manufacturing to global tech industries, with the best value in Durham. The growing infrastructure of Durham, muted submarket supply, and ease of accessibility to retail and jobs, provide a very positive future for potential investors.
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Under Contract
Marquis Gardens
400 Units
901 Chalk Level Road
Durham, NC  27704
Type: Conventional
Posted: 5/6/2020
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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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 353-unit Peppertree apartment community located in North Charleston, South Carolina. The asset is situated off Dorchester Road in close proximity to the top employment drivers in North Charleston where large investments have continually been made to expand and strengthen the Charleston job market. Built in 1983/1989, Peppertree offers an outstanding opportunity to see a 25% Return on Investment by completing the in-place value-add program, with 83% of units left to renovate generating proven premiums of $160. Peppertree also offers potential investors attractive assumable in-place agency financing with a low interest rate.
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Under Contract
Peppertree
353 Units
4640 Forest Hills Drive
North Charleston, SC  29418
Type: Conventional
Posted: 3/11/2020
The Cushman & Wakefield Student Housing Capital Markets Team, in conjunction with the Sunbelt Multifamily Advisory Group, is pleased to present the exclusive listing of the 126-unit, 504-bed, Reign Living at the Stadium student housing apartment community, located in Columbia, South Carolina. This asset is situated in a highly desirable location, adjacent to the University of South Carolina's Williams-Brice football stadium, and includes a private student walkway with exclusive gate access to the stadium's entrance. The property is completing construction and on target to house students this coming Fall semester. Reign Living at the Stadium offers a Class A investment opportunity with the latest amenities in the thriving University of South Carolina market.
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Reign Living at the Stadium
126 Units | 504 Beds
1105 Shop Road
Columbia, SC  29205
Posted: 7/1/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 288-unit Reserve at Bradbury Place apartment community located in historic Goldsboro, NC. Thriving in a low-risk, stable economy, the asset offers a modern living experience in the heart of Eastern North Carolina with easy access to top employers and destinations. New ownership has the opportunity to capitalize on Goldsboro’s strong market where apartment rents have been rising at a 5.6% annual rate during the third quarter of 2020, and have posted an average annual gain of 3.7% over the past three years. With just 92 new deliveries since 2010 and zero deliveries projected through 2024, the lack of a development pipeline will continue to drive rent growth in this unique market supported by a young renter demographic.
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Under Contract
Reserve at Bradbury Place
288 Units
560 West New Hope Road
Goldsboro, NC  27534
Type: Conventional
Posted: 7/28/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive offering of Riverside Flats at Aberfoyle Village, a 102-unit, 2019-built community situated along the Catawba River in the burgeoning Charlotte suburb of Belmont. The property enjoys one of the most unique locations across the Charlotte metro, located minutes from the Charlotte-Douglas International Airport, with immediate access to I-85 and Highway 74 that provide direct access to Uptown Charlotte (135,000+ jobs). The immediate area is positioned along a path of progress in Belmont, a suburb defined by high incomes, impressive schools, and unparalleled quality of life. The historically underserved submarket has witness outsized multifamily rent growth in recent years and is projecting 18% growth through 2025, while occupancy levels remain at market leading levels. Bolstered by strong submarket fundamentals and recent operational momentum, new ownership has the opportunity to bridge a $200+ rent delta to submarket leaders through proven 2nd generation leasing momentum that has already captured $100 rent increases on select floorplans.
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Under Contract
Riverside Flats at Aberfoyle Village
102 Units
1200 River Dr
Belmont, NC  28012
Type: Conventional
Posted: 8/13/2020
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