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The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 431-unit Ascent at Jones Valley apartment community located in Huntsville, AL, arguably one of the hottest metros in the entire U.S, which has added over 12K jobs and $5B of capital investments since the start of 2018. This asset is situated in the rapidly-expanding Jones Valley corridor of Southeast Huntsville, with $110K+ avg. household incomes, direct access to top schools, retail, and other amenities close by. Built in 1978, Ascent at Jones Valley offers an outstanding opportunity to invest in a proven value-add asset in a top-5 U.S. market for rent growth.
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Ascent at Jones Valley
431 Units
1225 Willowbrook Drive
Huntsville, AL  35802
Type: Conventional
Closed: 9/18/2020

Cushman & Wakefield, as exclusive marketing advisor, is pleased to present the Port Royale Apartments, a 553-unit apartment community located along the Intracoastal Waterway in Fort Lauderdale, Florida. This exclusive waterfront investment opportunity spans approximately 22 acres and features a midrise building with 161-units nestled along 380 feet of water frontage along with 392 garden style units graciously spread across 16 acres. The Port Royale Apartments were developed between 1988-1990 and today are part of an HOA which also includes 230 private condominiums in a single 20-story tower, 555 luxury rental units developed in 2017 and a 64-slip private marina. The 22 acre site is entitled for a total of 845 units, thus there remains the opportunity to develop an additional 292 units. To date, roughly 80% of the Property’s units have been renovated achieving average rent increases of $220. Port Royale represents a very unique investment opportunity in which a buyer can implement several complementary investment strategies to achieve outsized returns.

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Port Royale
553 Units
3101 Port Royale Boulevard
Fort Lauderdale, FL  33308
Closed: 9/11/2020

Veranda @ Speedway opened in June 2019 with the highest finishes in the submarket. With only highly sought-after studio and 1 bedroom floorplans and average rents below most competitors in the submarket. The property was fully occupied the day after the last building was completed, proving that the rents are well below market.

The property is within walking distance to a large shopping center providing lots of employment nearby as well as making the property a "walk-to" location for restaurants, bars, grocery, and other retail. The Indianapolis Motor Speedway is less than 2 miles away, which hosts the world’s largest sporting event, Indy 500, every year. The average income in a 1 mile radius is $54k, which is more than 6x the average market rent at Veranda. Also, within a 1 mile radius over 66% of housing is occupied by renters. This is likely due to the lack of housing options and high housing costs near the Indianapolis Motor Speedway.

The property is currently 96% occupied, allowing a new owner to come in and benefit from a high yield day one. The current owners invested over $140k in a completely new parking lot, new roofs, new windows, and painted siding. The units were completely gutted less than one year ago, with all new finishes, appliances, HVAC and plumbing. A new owner would not incur any major capital expenses for the near future.

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Veranda at Speedway
53 Units
6038 W 25th Street
Indianapolis, IN  46224
Type: Conventional
Closed: 9/10/2020
Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire AMLI Flagler Village, a midrise apartment community in the emergent Flagler Village neighborhood within Fort Lauderdale, Florida. Comprising 218 apartment homes and seven office units that comprise 7,200 square feet of space, this 7-story multifamily asset offers the opportunity to attain greater yields through implementation of a higher-tier customized modernization program that will increase returns for a new owner and also make it the community of choice given its large floor plans which average 1,047 square feet. With a 93 Walk Score, the property has access to the rapidly expanding nearby amenities and the most active employment market in Broward County.
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AMLI Flagler Village
218 Units
440 NE 4th Avenue
Fort Lauderdale, FL  33301
Closed: 9/2/2020

Autumn Trails, built in 1987, is a 165 unit apartment community located on the suburban east side of Indianapolis The community is situated on 9 acres and has 24 single story residential buildings. The property offers an attractive unit mix of studios, 1 and 2 bedroom units with private entries.

The property has undergone major capital expenditures in the last few years including all new metal roofs, the majority of the siding replaced, many new appliances and cabinets and the parking lot resealed and striped. The lack of immediate capital needs allows the new owner the ability to focus on property upgrades that will increase revenue.

Autumn Trails is located just north of 38th street and immediately east of I-465 off Franklin Road on the city’s suburban east side. The location provides convenient access to dining, shopping and employment.

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Autumn Trails
165 Units
7981 Red Mill Drive
Indianapolis, IN  46226
Closed: 9/2/2020

20 East is a 156-unit apartment community located in Elkhart, Indiana built-in three phases in 1985, 1986 and 1988. The community is situated on 15 acres and has 18 residential buildings, a leasing office and sparkling pool. The property offers an attractive unit mix of 1 and 2 bedroom units with all single-story buildings, private entries and washer/dryer connections in all units.

The property presents the ability to easily increase revenue by burning off loss-to-lease as demonstrated by the ability to achieve market rents. 20 East has undergone major capital expenditures in the last few years including all new roofs and windows in the last 2-8 years, new siding in 2018 and a new playground in 2018. The lack of immediate capital needs allows the new owner the ability to focus on property upgrades that will increase revenue. The property is located adjacent to an industrial/manufacturing corridor with many employers and a slew of economic activity.

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20 East
156 Units
2125 Toledo Road
Elkhart, IN  46516
Closed: 9/1/2020
The Cushman & Wakefield Southeast Multifamily Advisory Group and Larry G. Schedler & Associates, Inc. are pleased to present the exclusive listing of the 192-unit River Park apartment community located in McComb, MS. McComb, located along I-55 and centralized amongst key MSAs, is a budding regional retail hub with nearly 2 million square feet and major big box stores. River Park is part of an upcoming major mixeduse project that is taking shape at the I-55/Hwy-98 interchange, which will feature grocery, retail, office, and flex space. Built and delivered in late 2015, the subject property offers a Class A asset below replacement cost with an outstanding collections trend. The next investor will also benefit from long-term HUD debt that will boost cash-on-cash returns.
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River Park
192 Units
1328 Parklane Road
McComb, MS  39648
Type: Conventional
Closed: 9/1/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 264-unit Magnolia Terrace apartment community located in Charlotte, North Carolina. The asset is situated in the amenity rich University City suburb, which is experiencing phenomenal gains in population and employment – firmly cementing it as the second largest employment node in the MSA. Submarket performance continues to outpace the broader metro in rent growth, as average effective rent levels are expected to increase by $120 through 2022, while occupancy remains stable at 95%. Built in 1989, Magnolia Terrace is demonstrating spectacular operating momentum on the back of a recent $3.14M capital infusion and represents an outstanding opportunity to invest in an asset that can capture a 31% NOI boost through a multi-pronged value-add platform.
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Magnolia Terrace
264 Units
8301 Paces Oaks Boulevard
Charlotte, NC  28213
Type: Conventional
Closed: 8/31/2020
The Cushman & Wakefield Southeast Multifamily Advisory Group is excited to present the exclusive listing of the 282-unit Accent Cumberland development located in the MetroCenter submarket of Nashville, Tennessee. The site is situated minutes from Downtown and is ideally positioned between Nashville’s fastest growing neighborhoods. MetroCenter is one of Nashville’s strongest office submarkets, featuring over 3M SF of office space, and is recognized for its urban infill setting surrounded by high-growth areas, an expanding amenity base, and connectivity to all of the city’s major hubs. Accent Cumberland will benefit tremendously upon the submarket’s urbanizing trajectory and growth.
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Accent Glassworks (U/C)
282 Units
521 Great Circle Road
Nashville, TN  37228
Type: Conventional
Closed: 8/28/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is excited to present the exclusive listing of 53 West in Hall County, Georgia. The property boasts best-in-class interiors and amenities nestled into a private, nature-filled environment. 53 West has demonstrated its extreme desirability throughout a lease-up that averaged 23+ move-ins per month, all while offering zero concessions. The property is now 100% leased, providing a solid, sustainable foundation for market rent growth via strategic rent increases across all floorplans. Located in Oakwood, a rapidly growing suburb Northeast of Atlanta, and directly proximate to all surrounding economic nodes, 53 West is primed for years of sustained growth and impressive performance.
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53 West
266 Units
1000 Wood Acres Road
Oakwood, GA  30566
Type: Conventional
Closed: 8/25/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 85-unit Capital Flats & Magnolia Square apartment community located in Raleigh, North Carolina. This asset is situated in the heart of Raleigh, one of the fastest growing downtowns in the country. Built in 1982 with a $1.9M renovation completed in early 2020, Capital Flats offers an outstanding opportunity to invest in a unique asset primed to capitalize on growing demand for quality housing in the densest office market in the Triangle. With $2.3B in the current downtown development pipeline, Raleigh continues to grow and attract new residents, top businesses, and highly desirable retail.
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Capital Flats & Magnolia Square
90 Units
500 E Hargett Street
Raleigh, NC  27601
Closed: 8/24/2020

Brixton Apartments, situated on 9.93 acres, is a 120-unit community conveniently located on the southeast side of Indianapolis. With exceptional location, the property has mature trees and provides a quiet neighborhood setting.

The well-maintained property was built in 1982. The current owner has partially renovated 104 units. New ownership has the ability to increase revenue by continuing with unit upgrades.

Located in Marion County, on the southeast side of Indianapolis, Brixton Apartments enjoys exceptionally easy and convenient access to downtown Indianapolis, local restaurants and employment.

Offered Free and Clear, the property’s stable financial performance will allow for the most competitive and attractive new debt structure.

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Brixton
120 Units
4929 Red Robin Drive
Beech Grove, IN  46107
Closed: 8/20/2020