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The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the 207-unit, 1800 Ashley West. The property, built in 1980, is located in the heart of West Ashley, one of Charleston’s fastest growing submarkets, just minutes from Downtown Charleston as well as other major employment centers including Boeing (8,200 jobs), Joint Base Charleston (36,000 jobs), the new Mercedes-Benz plant (1,300 jobs) and Volvo plant (2,000 jobs). The recent adoption of “Plan West Ashley”, a master plan intended to spur economic development in the area through public-private partnership, will serve as a catalyst for growth in the submarket. 1800 Ashley West, offers new ownership to have the opportunity to complete the in-place value-add programs to further boost NOI across the property by over $653k.
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Under LOI
1800 Ashley West
207 Units
1800 William Kennerty Drive
West Ashley, SC  29407
Type: Conventional
Posted: 9/26/2018
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 144-unit, 86 North apartment community located in Chapel Hill, NC. Built in 1985, the property offers an outstanding opportunity to invest in a solid performing asset within the economic powerhouse of the Triangle MSA, strategically located in a highly educated, affluent submarket with an average HHI of +$112,000 in a 1-mile radius. Average rents at 86 North are approximately $480 lower than its immediate Class A competition and trails submarket comparable properties by $170, providing incoming ownership with a market-driven, value-add landscape to bring competitive rents to the market while capturing half of the rent ceiling. In addition, current ownership has paved the path to a feasible value-add program by renovating 4 trial units which are already receiving $145 premiums over standard units.
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86 North
144 Units
200 Westminster Drive
Chapel Hill, NC  27514
Type: Conventional
Posted: 2/7/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 1,546-unit Southeast Value-Add Portfolio located in high-growth submarkets throughout the Southeast. The portfolio represents the opportunity to immediately establish or supplement a strong investment platform in top markets. With prime locations and stable cash flows, these six assets offer an outstanding opportunity to invest in a proven value-add program and are poised for additional future rent growth.
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Southeast Value-Add 6 Portfolio (6 properties, 1,546 units)
Amber Mill
264 Units
2906 Old Norcross Road
Duluth, GA  30096
Type: Conventional
Posted: 2/14/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present Briarwood, a 274-unit 1970 (renovated in 1996)-built apartment community in Fayetteville, NC. The property has two entrances on Owen Drive, a major thoroughfare with more than 950 feet of frontage leading up to the highly trafficked intersection of Owen Drive and Boone Trail (43,000 VPD). Briarwood is an attractive, low maintenance property - boasting all brick exteriors and pitched roofs - that has been owned by current ownership for over 18 years and has maintained impressive occupancy levels averaging 95% since January-2015. Additionally, only 7% of the current residents are military. Strong operations coupled with a recent capital infusion of over $1.023M offer incoming investors the unique opportunity to acquire a quality asset with 40% NOI growth potential through a comprehensive interior upgrade program. The property is being offered on an all-cash basis or as a loan assumption with a below market interest rate
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Briarwood
274 Units
29 Briar Circle
Fayetteville, NC  28306
Posted: 4/10/2018
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 288-unit, Crescent Commons apartment community located in Fayetteville, NC. Built in two phases in 2002 and 2006, Crescent Commons offers a highly diverse unit mix with a significant discount to replacement cost as the property recently received a capital infusion of $750,000 in 2017. The property is positioned in walking distance to Fayetteville’s newest retail boom in the Skibo Road corridor, while situated 5.5 miles from the largest military installation in the world, Fort Bragg. The Fayetteville development pipeline is nearing stabilization as the market continues to absorb the delivery spike from 2012-2014, providing new ownership with the opportunity to capitalize on a value-add initiative to capture the rental gap and boost existing annual NOI by 29%.
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Under Contract
Crescent Commons
288 Units
812 Crescent Commons Way
Fayetteville, NC  28314
Posted: 10/17/2018
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present Cross Creek Cove, a 265-unit 1984 / 1994-built apartment community in Fayetteville, NC. Strategically located along the highly popular Skibo Road corridor in west Fayetteville, the property is conveniently situated in close proximity to the city’s premiere retail nodes and top economic catalysts. Cross Creek Cove is a quality asset with low maintenance, attractive brick exteriors that has received a combined capital infusion of more than $859,000 and is being offered at a discount to replacement by its current owner, who has owned the asset for 19 years. This coupled with strong operations - the property has maintained an average occupancy level of 94% since January-2015 - and a low concentration of military tenants, currently 20%, offers incoming investors the unique opportunity to acquire a quality asset with 30% NOI growth potential through a comprehensive interior upgrade program. The property is being offered on an all-cash basis or as a loan assumption with a below market interest rate.
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Cross Creek Cove
265 Units
855 King Arthur Drive
Fayetteville, NC  28314
Type: Conventional
Posted: 4/10/2018
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 384-unit Enclave Blythewood apartment community located in the Columbia, SC MSA. Delivered in two phases (2008/15), Enclave Blythewood features high-quality design available significantly below replacement cost. Reinforced by favorable operations, the property is poised for a potential 50% NOI boost driven by a multi-faceted value-add program. Ideally located in North Richland County's affluent and rapidly expanding economic core, Enclave Blythewood is within two miles of 2,600 current jobs and 1,825 recent new jobs announced. Continued employment growth coupled with minimal supply positions Enclave Blythewood to enjoy the benefits of a tightening rental market.
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Under Contract
Enclave Blythewood
384 Units
2051-2 Blythewood Crossing Lane
Blythewood, SC  29016
Type: Conventional
Posted: 8/15/2018
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 164-Unit, Fox Ridge Manor in Raleigh, NC. The property has experienced a surge in organic rent growth due to a recent $1 million capital infusion, including new roofs, paired with its position along the path of progress in Raleigh. Built in 1972, Fox Ridge Manor offers an additional 5.5 acres of excess land and is comprised of a unique set of 2BR and 3BR townhomes with market leading floorplan sizes, while the Southern Raleigh submarket has outpaced the broader metro in occupancy and rent growth. Fox Ridge Manor also offers new ownership the opportunity for an impactful 39% boost to NOI through multiple revenue streams including a recent water/sewer submetering program and a proven value add initiative.
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Under Contract
Fox Ridge Manor
164 Units
2200 Fox Ridge Manor Road
Raleigh, NC  27610
Posted: 10/30/2018
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 168-unit, Hawk Ridge apartment community in Winston-Salem, NC. Built in 1998, the property offers new ownership significant income upside from completion of a proven unit interior renovation program, and potential for a market-supported second phase of upgrades to push rents. Firmly cemented in a top-tier school system and demographic region ($90,000 HHI 3-mile radius), Hawk Ridge offers seamless connectivity by way of I-40 and US-158 to the premier retail and major employers of Winston-Salem - a metro defined by continued growth and a dwindling unemployment rate.
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Under Contract
Hawk Ridge
168 Units
400 Hawk Ridge Drive
Winston-Salem, NC  27103
Type: Conventional
Posted: 9/21/2018
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 144-unit, Hawthorne Willowbrook apartment community. Delivered in 2000, Hawthorne Willowbrook is located on the cusp of Greenville’s "Industry Triangle" with several of the county’s largest employers (10,500+ jobs) located just minutes from the property. Residents of Hawthorne Willowbrook enjoy seamless access to the premier retail in an area defined by an exceptional demographic base, including an average HHI of over $89,000 within a 3-mile radius. Bolstered by steady operations, the property is poised to bridge the average +$180 delta in effective rents to market competitors through a multi-pronged, proven value-add initiative.
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Hawthorne Willowbrook
Offers Due:  Thursday, February 14, 2019
144 Units
130 Willow Forks Drive
Simpsonville, SC  29681
Type: Conventional
Posted: 1/14/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 288-unit, Heights at McArthur Park. Built in 2 Phases (2009 & 2010), this low maintenance asset holds a strong core plus value-add opportunity nestled into northern Fayetteville. The property is positioned in walking distance to high-end retail and dining options while surrounded by Fayetteville’s major arteries of I-295, US-401, and NC-210, providing connectivity to the metro’s economic drivers and top employers. The MSA’s development pipeline has nearly stabilized after the delivery surplus from 2012-2014, providing new ownership an opportunity to capitalize on the impressive, existing amenity package by implementing a value add program to reduce the $240 rent ceiling gap and boost existing NOI by 18%.
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Heights at McArthur Park
Offers Due:  Thursday, March 21, 2019
288 Units
2523 Mulranny Dr
Fayetteville, NC  28311
Type: Conventional
Posted: 2/14/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 216-unit, Heron Lake apartment community. Delivered in 2008, Heron Lake is located in the heart of northern Richland County’s path of growth. Residents of Heron Lake enjoy seamless access to the premier retail and employment in an area defined by an exceptional demographic base including an average HHI of over $84,000 within a three-mile radius. Bolstered by large floor plans and outstanding amenities, the property is poised to bridge the +340 delta in effective rents to market competitors through a market-supported value-add initiative.
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Heron Lake
Offers Due:  Monday, March 11, 2019
216 Units
1340 North Brickyard Road
Columbia, SC  29223
Type: Conventional
Posted: 1/30/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 15.04 acre land site located on the corner of Milton Road and Barrington Drive in Charlotte, NC. Firmly cemented in a solid demographic region, The Milton Road land site offers seamless connectivity to Charlotte’s largest job centers by way of NC-24 and the land is already zoned for multifamily development. With the Charlotte LYNX Blue Line transit system finished and more expansion underway, East Charlotte is expected to boom in development. Over 80% of the apartment complexes in this submarket are greater than 15 years in age, providing developers with an outstanding opportunity to capture first-class market share in the area.
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Milton Road Land Site
   
Milton Road
Charlotte, NC
Type: Land
Posted: 8/9/2018
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 45-unit, Monarch apartment community located in Durham, NC MSA. Built in 1965, this asset received a recent investment of $382,000 in improvements. The surrounding market indicates that potential investors can take the current mid-tier renovations a step further with the opportunity to boost NOI by over 30% through implementation of a value-add 2.0 program. As Downtown Durham continues to revitalize its infrastructure, this quality, low maintenance asset is primed to capture the incoming workforce spillover as the city continues to attract new and expanding Tech/Life Sciences/Healthcare employers, resulting in an affluent and educated labor pool.
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Monarch
Offers Due:  Thursday, March 21, 2019
45 Units
1001 Ruby Street
Durham, NC  27704
Posted: 2/13/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 1,546-unit Southeast Value-Add Portfolio located in high-growth submarkets throughout the Southeast. The portfolio represents the opportunity to immediately establish or supplement a strong investment platform in top markets. With prime locations and stable cash flows, these six assets offer an outstanding opportunity to invest in a proven value-add program and are poised for additional future rent growth.
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Southeast Value-Add 6 Portfolio (6 properties, 1,546 units)
North Creek
250 Units
8786 North Creek Boulevard
Southaven, MS  38671
Type: Conventional
Posted: 2/14/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 260-unit, 1987-built Paces Run located in Columbia, SC and the 208-unit, 1985-built Chatham Wood located in High Point, NC. Embedded in a strong blue-collar region, both properties sit less than 7 miles from large-scale new and expanding distribution facilities that continue to drive population and organic rent growth. Paces Run recently received a capital infusion of $600,000, including new roofs on all but 2 buildings over the past 5 years, and Chatham Wood has undergone exterior renovations of over $1.2M, prepping the communities for a proven value add initiative that could potentially boost NOI by 32%-35%.
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Under Contract
Chatham Wood & Paces Run (2 properties, 468 units)
Paces Run
260 Units
100 Paces Run Court
Columbia, SC  29223
Type: Conventional
Posted: 10/1/2018
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 1,546-unit Southeast Value-Add Portfolio located in high-growth submarkets throughout the Southeast. The portfolio represents the opportunity to immediately establish or supplement a strong investment platform in top markets. With prime locations and stable cash flows, these six assets offer an outstanding opportunity to invest in a proven value-add program and are poised for additional future rent growth.
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Southeast Value-Add 6 Portfolio (6 properties, 1,546 units)
Preserve at Woods Lake
232 Units
412 Woods Lake Road
Greenville, SC  29607
Type: Conventional
Posted: 2/14/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of Quail Run & Sharon Lakes Condominiums - a value-add opportunity barbelled between two of Charlotte’s most desirable neighborhoods, Steele Creek and South Charlotte. Of the 162 units, 74 are of the 298 unit community of Quail Run and 88 are of the 360 unit community of Sharon Lakes (Non-Majority Stakes). The 1973 / 1972 -built assets are positioned in an epicenter ripe with employment and retail characterized by strong demographics, white-collar employment and an employment node that supports over 98,000 jobs. Featuring a variety of floor plans, the assets offer a truly unique framework primed for immediate value-add in an area that has a market driven value-add upside achieving $100 premiums. The properties also add an extra layer of upside by providing the new ownership the opportunity to exit the properties with a wholesale exit or selling the condominiums on an individual basis for a greater value
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Quail Run & Sharon Lakes (2 properties, 162 units)
Quail Run
   
7900 Lakehouse Lane
Charlotte, NC  28210
Type: Condo Conversion
Posted: 9/19/2018
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of Ravenwood Hills - a 112-unit apartment community in Columbia, SC. Located in the popular neighborhood of Forest Acres the property provides an opportunity for a remarkable, market-supported value-add program with a current rent runway average of $330. The property is barbelled by employment centers and surrounded by premium single family homes and top-notch retail. Ravenwood Hills is firmly positioned in East Columbia - a submarket equipped with high forecasted rent growth in an MSA characterized by diminishing multifamily supply and significant job expansion.
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Ravenwood Hills
Offers Due:  Monday, March 11, 2019
112 Units
4215 Bethel Church Road
Columbia, SC  29206
Type: Conventional
Posted: 2/5/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 307-unit Riverwalk apartment community located in burgeoning Rock Hill, SC (Charlotte MSA). Embedded in the 1,008-acre, $600M master-planned development of Riverwalk along the banks of the Catawba River, the property boasts premier walkability to expanding retail and lifestyle amenities. Recently delivered in two phases (2016/2018), Riverwalk offers the rare opportunity to acquire a newly constructed asset below replacement cost, while imminent stabilization and a significant rent runway provide immediate income upside potential. In addition, Riverwalk is poised to benefit from a tightening rental environment, as minimal new supply coupled with rapid economic growth in York County's I-77 corridor will drive favorable fundamentals.
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Under Contract
Riverwalk
307 Units
517 Pink Moon Drive
Rock Hill, SC  29730
Type: Conventional
Posted: 9/10/2018
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 1,546-unit Southeast Value-Add Portfolio located in high-growth submarkets throughout the Southeast. The portfolio represents the opportunity to immediately establish or supplement a strong investment platform in top markets. With prime locations and stable cash flows, these six assets offer an outstanding opportunity to invest in a proven value-add program and are poised for additional future rent growth.
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Southeast Value-Add 6 Portfolio (6 properties, 1,546 units)
Shallowford Trace
252 Units
7510 Shallowford Road
Chattanooga, TN  37421
Type: Conventional
Posted: 2/14/2019
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