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The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 192-unit South Pointe at Wayside apartment community located in Raeford, North Carolina. Built in 2023, this newly constructed asset grants residents access to top-of-the-market amenities and Class A finishes designed to cater to the predominant white-collar workforce in the area (60%). Ideally located with direct access to Fort Liberty’s 67,000+ job opportunities and additional 9,000+ jobs within the premier Healthcare Corridor, the property is strategically positioned near the region’s top employers and retail options. South Pointe at Wayside offers new ownership the chance to invest in a high-performing asset that has showcased an impressive lease-up performance, averaging 17 move-ins per month from March to January. Surrounded by a limited supply pipeline coupled with an anticipated 6,000 new residents by 2027 and proven rent growth of 25.4% since 2021, new investors have an extraordinary opportunity to capitalize on the property’s future growth as it enters its second generation of leasing.
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South Pointe at Wayside
192 Units
1002 South Pointe Drive
Raeford, NC  28376
Type:  Multifamily
Closed: 6/21/2024

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Lowe, a 135-unit, 2022-built apartment community located in the desirable Street Car District of downtown Savannah Georgia. Completed in 2022, The Lowe represents a top of the line asset that includes premium amenities and finishes, an ability to push second generation leases, and location that is directly in downtown Savannah’s path of growth. Situated downtown, residents of The Lowe benefit from proximity to the area’s most sought-after restaurants and retail.

Since the announcement of the largest economic development project in Georgia history, the Hyundai EV plant (8,500 jobs) has been the catalyst of 18K additional jobs announced over the last 18 months. The EV plant is estimated to have a 4.7x multiple effect through supporting industries (40K total job impact).

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The Lowe
135 Units | 145 Beds
1501 Montgomery Street
Savannah, GA  31401
Type:  Multifamily
Closed: 5/22/2024
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 64-unit Millbrook Apartments community located in Greensboro, NC. This asset is situated in South Greensboro submarket just off of the amenity rich Wendover Avenue, a major retail corridor in Greensboro which contains numerous big box brands within a five-minute drive of the property. The property is also within close proximity to the recently completed 840 urban loop which traverses the entire Greensboro MSA and provides direct access to some of the area’s top employers. Built in 1993, Millbrook offers an outstanding opportunity to invest in a quality asset with high growth potential through both organic rent growth and value-add potential. Through an interior value-add program supported by nearby comparables, incoming investors can increase NOI by a staggering 44%+.
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Millbrook
64 Units
1101 East Barton Street
Greensboro, NC  27407
Type:  Multifamily
Closed: 5/10/2024

Skyline Towers is a 60-unit, boutique elevator multifamily property located in one of the fastest growing submarkets in the Midwest. Offering large floorplans and underground parking, Skyline Towers is positioned to capture demand from modern renters looking for homelike living with the convenience of renting.

Skyline Towers was developed in 2017, delivering an unmatched product in the rental market. The property is now positioned for more operationally focused ownership, taking advantage of unrealized supplemental income while continuing to ride the wave of outsized rent growth in the Kenosha submarket.

Capture Operational Upside

Improve operations by capturing nearly $50,000 of additional annual income by charging market standard fees for parking and storage.

Booming Kenosha Job Market

Over 8,000 jobs added since 2010 through major corporations such as Amazon, Uline, Kroger, Haribo, and Nexus. There is another 4.5 MSF of industrial development projected to bring 1,000 more jobs to the area.

Assumable Debt with Term

The acquisition of Skyline Towers offers attractive assumable agency debt at 4.79% maturing in September 2030. The current loan balance is in line with today’s market loan to value.

Fundamentals Poised for Strong Rent Growth

Area home values have increased 11.2% in the past year averaging $447,500, making homeownership even less attainable in today’s rising interest rate environment. Skyline Tower’s average rent is only 18.5% the average area income of $101,437. With only 133 units under construction in the submarket, the asset its poised for outsized rent growth.

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Skyline Towers Apartments
60 Units
9511 81st St
Kenosha, WI  53158
Type:  Multifamily
Closed: 5/3/2024
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Preston. The Preston is a 334-unit apartment community located in McDonough, Henry County, GA. This asset is situated in the rapidly expanding I-75 corridor, which comprises several major distribution hubs due to the proximity of Hartsfield Jackson International Airport and the Port of Savannah. As the home to a 1.1M+ workforce, Henry County’s major job sectors include advanced manufacturing, healthcare services, logistics and professional solutions. The property benefits from affluent surrounding demographics and over 1.2M SF of neighboring retail. A new owner can either renovate the remaining 266 units for ~$213 premiums or elevate 100% of the property to an elevated finish level to compete with newer assets which provide $225+ of rental headroom. As population growth outpaces the multifamily development, the property is primed for continued rent growth.
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The Preston
334 Units
100 Preston Creek Drive
McDonough, GA  30253
Type:  Multifamily
Closed: 5/2/2024

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Grove at St. Andrews and Greenwood at Ashley River, two apartment communities totaling 902 units, which can be acquired together or individually. The two assets are situated in two of South Carolina’s most admired cities, Columbia and Charleston. The highly sought-after Dutch Fork and North Charleston submarkets are characterized by top-tier retail and sit in close proximity to some of the area’s largest economic drivers with over 115k jobs within a 20-minute drive from each property. The immediate areas surrounding the properties boast high HHI growth, majority white-collar populations, and impressive rent growth, representing the ideal time to own in these thriving pockets.

The properties offer an outstanding opportunity to gain immediate scale, infrastructure, and create efficiencies in high growth Southeastern markets through well capitalized assets ($5.3M+). Built from 1974-1984, the properties arrive to market with attractive loan assumptions offering interest rates well below current capital market levels and are primed for a Class-A value-add campaign where new ownership can benefit from the tremendous upside of the portfolio advantage, push rents $170+, and yield additional revenue for years to come.

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The Grove at St. Andrews & Greenwood at Ashley River (2 properties, 902 units)
Greenwood at Ashley River
280 Units
6520 Dorchester Road
North Charleston, SC  29418
Type:  Multifamily
Closed: 4/30/2024
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is excited to present the exclusive listing of Cortland Portico, a 440-unit institutionally owned and operated multifamily property in Atlanta’s dynamic I-85 North Corridor. This Core Plus asset features a thoughtful site-plan, spacious floorplans and a premier amenity package. Current ownership has injected $7.7M into the asset, which has attracted a top-tier renter profile. The property is ideally located along I-85, providing residents direct access to Atlanta’s top job nodes and 1M+ jobs within a short drive. In addition, Cortland Portico is strategically located near significant new developments including Gas South District, a 118-acre campus including an arena, theatre, and convention center. Cortland Portico provides an attractive opportunity to acquire a truly irreplaceable asset with strong future growth trajectory, in Atlanta’s fastest growing county.
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Cortland Portico
440 Units
2110 Preston Park Drive
Duluth, GA  30096
Type:  Multifamily
Closed: 4/25/2024
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 193-unit Midtown Ridge apartment community located in Chattanooga, Hamilton County, Tennessee. Situated in the thriving, highly desirable Brainerd neighborhood, Midtown Ridge is surrounded by top retail, restaurants, and local parks alongside the Eastgate Town Center. When combined with quick access to I-24 and I-75, Midtown Ridge offers unrivaled access to all sides of the city. A 1986-built asset, Midtown Ridge is an opportunity to invest in a highly capitalized property with even greater potential through value-add. This opportunity is bolstered by recent job announcements in the area, including SK Foods, Qcells, Volkswagen, and Bridgestone Americas.
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Midtown Ridge
193 Units
312 McBrien Road
Chattanooga, TN  37411
Type:  Multifamily
Closed: 4/23/2024
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 157-unit Hillcrest Village apartment community located in Springdale, AR. Hillcrest Village is attractively situated just west of the I-49 corridor, walking distance from Arvest Ballpark, home to the AA affiliate of the Kansas City Royals, The Northwest Arkansas Naturals. Springdale rests in the heart of the booming NW Arkansas MSA, which is home to 3 Fortune 500 Companies – Walmart, JB Hunt and Tyson Foods. Tyson’s headquarters sits just 2 miles NE of the property, supplying 3,000+ corporate jobs and is 1 of the 3 top US poultry producers located in the city. Hillcrest Village is also uniquely positioned within the fast-growing NW Arkansas healthcare hub with Arkansas Blue Cross/Blue Shield, Arkansas Children’s Hospital NW, Highlands Oncology and Mercy Health all within a 5-minute commute. Still under development, Hillcrest Village offers an outstanding opportunity to invest in a well-located and highly desirable BTR product in one of fastest growing markets in the nation.
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Hillcrest Village
157 Units
2958 Cornell Dr
Springdale, AR  72762
Closed: 4/18/2024
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 168-unit Overlook at Indian Trail apartment community located in Kingsport, Sullivan County, Tennessee. This asset is situated in the rapidly-expanding, tri-cities market of Tennessee. Built in 2017/2023, Overlook at Indian Trail offers an outstanding opportunity to invest in a recently built asset within an undersupplied market, with less than 1,000 units delivered to the area since 2010. This asset has the ability to garner $175+ premiums through a value-add program and burning off loss-to-lease. Residents at the property benefit from being within minutes of top employers (Eastman Chemical, Kingsport City School System, and Welmont Health System) and just moments from big box retailers such as Walmart and Lowe’s.
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Overlook at Indian Trail
168 Units
805 Indian Trail Drive
Kingsport, TN  37660
Closed: 4/9/2024
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 20.42-acre Parkside Multifamily Development Site in Port Wentworth, GA. Zoned and entitled by-right for multifamily, current plans call for 235 multifamily apartment units to be built on the site. Building permits are already in hand for the site, which will be just down the road from Port Wentworth’s new $30 million, 150-acre Recreation Park. The site is less than 2.5 miles from a Publix. It is also notably 4 miles from Georgia Tech Savannah and 7.5 miles from the Savannah/Hilton Head International Airport. Port Wentworth, nicknamed Savannah’s Front Porch, has witnessed an explosion in population, more than doubling in size between the last two US Censuses. The city has benefited from Savannah’s port and industrial expansion and boasts a strong job market. Chatham County’s Class A multifamily market has surged, and average rents are expected to exceed $2,000 in 2023. The Parkside Multifamily Development Site presents an enticing, shovel-ready opportunity to break into a booming multifamily market with scale.
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Parkside Development Highway 30 Land
20.42 Acres
436 Highway 30
Port Wentworth, GA  31407
Type:  Land
Closed: 4/5/2024