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The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Blue Ridge Apartments, a 48-unit asset located in Raleigh, North Carolina. Blue Ridge Apartments is a student occupied property adjacent to North Carolina State University, located within one of the strongest performing MSAs in the country over the past several years. Centered in the West Raleigh submarket with growing demand and limited supply, new ownership has the opportunity continue student, per-bed operations supported by NC State’s presence or convert to conventional market rate and reduce expenses through operational efficiencies. Built in 2008, the property is showing strong operational momentum and is primed for a value-add initiative that could generate an additional $107K in annual revenue and boost NOI by 26%.
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Blue Ridge Apartments
Offers Due:  Tuesday, April 27, 2021
48 Units | 96 Beds
601 Crimson Cross Court
Raleigh, NC  27606
Type: Student
Posted: 3/22/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is excited to present the exclusive listing of Caroline, a 237-unit mixed-use apartment community located on Charleston, South Carolina’s peninsula. The property is strategically situated within the new 50-acre urban, waterfront district “WestEdge” masterplan, which has a projected impact of 4,280 new jobs and 2,500+ residents upon completion. Caroline has set the stage for growth by reaching stabilization while still having $700+ in rental headroom. Increased barriers to entry on the peninsula due to numerous municipal and design requirements will shield Caroline from new supply, as it benefits from being one of only two communities with unobstructed views of the Ashley River.
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Under LOI
Caroline
237 Units
99 Westedge Street
Charleston, SC  29403
Type: Conventional
Posted: 2/16/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 2002-built, 60-unit Century Oaks on College apartment community located in Greensboro, NC. The asset is situated in burgeoning West Greensboro less than 7 miles from the expanding Piedmont Triad International Airport and in close proximity to a variety of retail options. The plethora of employers located in this submarket have driven submarket fundamentals such as population, household income, and rent growth significantly upward in recent years. The surrounding areas truly mirror the Greensboro economy’s recent shift toward expanding its white-collar workforce through educational attainment and growing financial and tech market sectors. New ownership has the opportunity to boost NOI by nearly 43% by implementing a proven interior renovation program.
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Century Oaks on College
Offers Due:  Wednesday, May 5, 2021
60 Units
337 Guilford College Road
Greensboro, NC  27409
Type: Conventional
Posted: 3/22/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 102-unit Chambers Ridge apartment community located in Carrboro, NC. This asset is situated on the Jones Ferry Rd/ NC-54 interchange with immediate access to the area’s premier retailers and economic drivers - Raleigh, Durham, and Research Triangle Park. Chambers Ridge rents to a highly educated, affluent submarket with average household incomes of +$105K and 74% of renters holding a Bachelor’s Degree or higher within a 3 mile radius. With the largest supply wave already in the rear-view mirror, growing demand of Chapel Hill paired with Carrboro’s limited supply (only 94 units delivered since 1997) poises the property for consistent returns for years to come. Built in 1985, Chambers Ridge offers an outstanding opportunity to invest in a quality asset that has received over $500K in capital expenditures including high-end unit finishes primed for organic rent growth.
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Under LOI
Chambers Ridge
102 Units
201 Westbrook Drive
Carrboro, NC  27510
Type: Conventional
Posted: 2/23/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 259-unit Crest at Greylyn apartment community located in Charlotte, NC. This asset is situated in the highly desirable submarket of Matthews where a highly educated, affluent renter base has supported consistently strong rent growth over the past five years. A thinning development pipeline provides confidence these strong multifamily fundamentals will continue. An excellent location surrounded by retail and proximate to several major highways provides residents direct access to Charlotte’s largest employment hubs, including Uptown (135,000 daily employees), in less than 20 minutes. Built in 2013, Crest at Greylyn presents an unprecedented investment opportunity to inherit Class A construction and community amenities coupled with the potential for an interior renovation program that would achieve $150 premiums and ultimately increase NOI by 19%.
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Under LOI
Crest at Greylyn
259 Units
9415 Lucy Jane Lane
Charlotte, NC  28270
Type: Conventional
Posted: 1/25/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Douglas Square on Hope Mills, a 198-unit apartment community located in Fayetteville, North Carolina. The asset is surrounded by the region’s prominent thoroughfares, which provide residents convenient access to the plethora of retail in the immediate area as well as the largest employers in the city, including Fort Bragg. Built in 1972 with a complete repositioning in 2020, Douglas Square on Hope Mills offers an outstanding opportunity to invest in a property with very little deferred maintenance with a recent capital infusion of $2.2MM+ and a successful value-add initiative that is underway, presenting a potential 24% boost in annual NOI.
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Douglas Square on Hope Mills
Offers Due:  Thursday, April 29, 2021
198 Units
5052 Watauga Rd
Fayetteville, NC  28304
Posted: 3/25/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Enclave at Pamalee Square, a 242-unit apartment community located in Fayetteville, North Carolina. Surrounded by the region’s prominent thoroughfares residents of Enclave at Pamalee Square enjoy convenient access to prime retail and dining, as well as the largest employers in the city, including Fort Bragg. Enclave at Pamalee Square offers investors the opportunity to invest in a strong performing asset showing impressive operational momentum through 2020 and into 2021. The asset is primed for a value-add program to capitalize on market rental head room in a recession proof market that ranked #1 in annual effective rent growth in 4Q20 out of 150 ranked markets.
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Enclave at Pamalee Square
Offers Due:  Wednesday, April 14, 2021
242 Units
1014 Enclave Drive
Fayetteville, NC  28301
Posted: 3/11/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 56-unit Glenside Woods apartment community located in Greensboro, NC. This property offers investors a rare opportunity to invest in a unique, under-performing asset firmly situated in one of the fastest growing submarkets of the Triad. As submarket household incomes approach $90K+ paired with a muted delivery pipeline, the market indicates support for higher-end finishes in the surrounding areas, as Greensboro shifts its focus to target a white-collar workforce through educational attainment. New ownership will have the opportunity to boost NOI by 37% through the continuation of a proven value-add program and implementation of utility reimbursements.
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Glenside Woods
56 Units
1621 Glenside Dr
Greensboro, NC  27405
Posted: 2/8/2021
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 158-unit Hawthorne Centre North and the 78-unit Hawthorne Lofts South located in the center of Wilmington, NC, the 3rd fastest growing city in the state. These offerings can be purchased individually or as a portfolio. Built in 1996/1990, this well-maintained portfolio has received over $3.5 million in capital improvements since 2013, implementing property-wide roof replacements in 2019 and significant amenity enhancements along with light upgrades throughout the units. The area has received a massive influx of new residents, as Wilmington explodes in population growth due to in-migration accelerated by the pandemic, as remote workers love the affordable beach lifestyle and beautiful scenery that Wilmington has to offer. Impressive leasing trends are expected to continue with Wilmington, NC ranking as a top 20 city in the United States for inbound population growth in 2020. Both properties are top performers in their submarket by holding a 98% occupancy average over the past 15 months. Current renovations at the Hawthorne Centre North and Hawthorne Lofts South are achieving rent premiums of $75 and $95, respectively. Despite this impressive performance, the market indicates there is an opportunity for a higher-end value-add program that would result in a potential boost to NOI by 28%-37%, along with the potential to implement additional revenue streams.
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Hawthorne Centre North and Lofts South (2 properties, 236 units)
Hawthorne Centre North
Offers Due:  Monday, May 3, 2021
158 Units
5208 Ringo Drive
Wilmington, NC  28405
Type: Conventional
Posted: 3/30/2021
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 158-unit Hawthorne Centre North and the 78-unit Hawthorne Lofts South located in the center of Wilmington, NC, the 3rd fastest growing city in the state. These offerings can be purchased individually or as a portfolio. Built in 1996/1990, this well-maintained portfolio has received over $3.5 million in capital improvements since 2013, implementing property-wide roof replacements in 2019 and significant amenity enhancements along with light upgrades throughout the units. The area has received a massive influx of new residents, as Wilmington explodes in population growth due to in-migration accelerated by the pandemic, as remote workers love the affordable beach lifestyle and beautiful scenery that Wilmington has to offer. Impressive leasing trends are expected to continue with Wilmington, NC ranking as a top 20 city in the United States for inbound population growth in 2020. Both properties are top performers in their submarket by holding a 98% occupancy average over the past 15 months. Current renovations at the Hawthorne Centre North and Hawthorne Lofts South are achieving rent premiums of $75 and $95, respectively. Despite this impressive performance, the market indicates there is an opportunity for a higher-end value-add program that would result in a potential boost to NOI by 28%-37%, along with the potential to implement additional revenue streams.
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Hawthorne Centre North and Lofts South (2 properties, 236 units)
Hawthorne Lofts South
Offers Due:  Monday, May 3, 2021
78 Units
351 Red Wing Lane
Wilmington, NC  28403
Type: Conventional
Posted: 3/30/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 212-unit, 1986-built Huntington Apartments in Morrisville, NC. The property is located in an affluent pocket of the Raleigh-Durham MSA, boasting median household income levels of over $100,000 and home values of $357,000, and is conveniently situated amongst the area’s top employment and retail nodes. The Morrisville submarket has seen 152% population growth over the past twenty years priming the area for projected 12% rent growth through 2023. New ownership has the opportunity to increase annual revenue by $496K through a comprehensive value-add program that will boost NOI 33%.
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Huntington
Offers Due:  Tuesday, May 4, 2021
212 Units
2408 Duck Pond Circle
Morrisville, NC  27560
Type: Conventional
Posted: 3/29/2021
OM AVAILABLE SOON
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 244-unit Legacy Haywood apartment community located in Greenville, SC. Legacy Haywood offers investors the opportunity to own the best-in-class suburban asset in one of the most burgeoning markets in the Sunbelt. The property is ideally located between Downtown and the I-85/I-385 corridor which provides superior access to Greenville’s largest employment nodes and 59,000 jobs within a 3-mile radius. The Greenville market has consistently averaged 3%+ rent growth, and after an extended season of supply, is starting to witness a diminishing delivery pipeline as there are no proposed or under construction units within 3 miles of Legacy Haywood. Best-in-class amenities provide a resort-like feeling throughout the property, while carefully curated unit interiors highlight the asset’s superiority over submarket competitors. Built in 2020, Legacy Haywood represents an outstanding opportunity to invest in the premier asset of suburban Greenville while offering the opportunity to capture $240 in rental headroom to top-of-market competitors.
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Legacy Haywood
244 Units
930 Old Airport Road
Greenville, SC  29607
Posted: 3/24/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 256-unit, Meriwether Place apartment community located in Durham, NC. Built in 1996/1998, this asset received a capital investment of over $1.7 million in exterior amenities and interior upgrades. The property has completed high-end renovations on 11 trial units, of which are leasing up to $1,300 per month, giving investors the opportunity to capitalize on the remaining 245 units paired with the ability to implement multi-pronged revenue streams. Meriwether Place is situated in a bargain submarket with a diverse workforce ranging from manufacturing to global tech industries, as surrounding submarkets vastly outpace East Durham rental rates but offer equal work commutes to employment hubs. The growing infrastructure of Durham paired with muted supply in the submarket defines Meriwether Place as a strong asset with a positive outlook.
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Under LOI
Meriwether Place
256 Units
4001 Meriwether Drive
Durham, NC  27704
Posted: 1/26/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 45-unit, Monarch apartment community located in Durham, NC. Built in 1965, the property recently completed high-end unit turns, providing investors with a competitive asset at a discount to replacement cost. 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 61% through implementation of an enhanced value add 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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Under LOI
Monarch
45 Units
1001 Ruby Street
Durham, NC  27704
Posted: 1/12/2021
OM AVAILABLE SOON
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is excited to present the exclusive listing of Mosby University City, a 309-unit newly built apartment community located in Charlotte, NC. The property is ideally situated in the University City submarket of Charlotte. This booming submarket is highlighted as one of Charlotte’s largest employment centers (~75k total employees), features 23 Fortune 500 companies, 430 Retail locations, 11M SF of office space, the University of North Carolina at Charlotte, and direct access to the Lynx Light Rail through multiple stations. The property offers large floorplans coupled with premier, luxury amenities, with ideal lifestyle amenities located nearby. Mosby University City presents an outstanding opportunity to invest in a newly built Class A institutional-quality asset located in a thriving submarket that offers organic rent growth through rental headroom from nearby competitors.
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Mosby University City
309 Units
404 Gallop Lane
Charlotte, NC  28213
Type: Conventional
Posted: 4/13/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 100-unit Olde Town at Bailey Court apartment community located in Anderson, SC. This asset is situated in a highly trafficked area in close proximity to the areas top employers, including AnMed Health, Anderson University, Electrolux, Techtronics, Bosch and many more. Given Anderson County’s lack of supply with only 109 units proposed delivery through 2022, submarket fundamentals are expected to well outperform the great MSA in both effective rent growth and occupancy levels. Residents of Olde Town at Bailey Court enjoy seamless access to the premier retail in an area, defined by an exceptional demographic base including average HHI of over $63,000 within a 3-mile radius. Bolstered by steady operations, the property is poised to bridge the $400+ delta in effective rents to market competitors through completion of the already proven interior value-add initiative.
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Under Contract
Olde Town at Bailey Court
100 Units
106 Concord Avenue
Anderson, SC  29621
Type: Conventional
Posted: 1/5/2021
OM AVAILABLE SOON
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of 121-unit Palmetto Gardens & Willwood Gardens apartment community located in Florence, SC. This asset is strategically located just off the I-95 & I-20 interchange near Florence’s major job and retail centers which provide high visibility and ease of travel into the center city. Built in 1984/1987/1991, Palmetto Gardens & Willwood Gardens represent an incredible opportunity to invest in an asset that has been well-maintained, while offering an ideal micro location and tremendous upside through the implementation of a proven value-add program.
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Under Contract
Palmetto Gardens & Willwood Gardens
121 Units
2305 West Palmetto Street
Florence, SC  29501
Posted: 12/15/2020