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Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present the City Center Portfolio, a 500-unit, four property portfolio located in Newport News, Virginia. The Properties - Kingstowne (1974 & 1985), Boston Cove (2008), Forrest Court (1971), and Victoria Place (1985) - exhibit strong value-add fundamentals with in-unit renovations which can generate significant rent increases, proven out within the broader submarket. A substantial amount of capital has been invested in the Properties that limits downside risk associated with deferred maintenance and will allow a new investor to focus on income generating renovations. Additionally, the Portfolio is being offered at a price significantly below replacement cost, providing investors with an incredibly attractive acquisition basis relative to newly constructed Class A properties. The Properties are strategically located around Newport News’ premier mixed-use development, City Center at Oyster Point, and have immediate access to I-64 only minutes away. The City Center Portfolio is a rare opportunity to combine irreplaceable Newport News locations and immediate scale with additional upside in the vastly expanding Hampton Roads market.
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Kingstowne
384 Units
500 Oscar Loop
Newport News, VA  23606
Closed: 1/21/2020
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 160-unit Fiddlers Creek apartment community located in Winston-Salem, North Carolina. Given the proximity to major thoroughfares, residents can enjoy a short commute to downtown Winston-Salem, Hanes Mall and all of the region’s top employment. In addition to locational advantages, the submarket has seen 11% rent growth over the past 3.5 years and has no units proposed through 2021. The asset is sheltered from new competition and is set to continue strong rent growth trends. New ownership is presented with a unique investment opportunity to boost NOI by 62% through a multi-pronged value add approach totaling $355K in new revenue.
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Fiddlers Creek
160 Units
2180 Fiddlers Court
Winston-Salem, NC  27107
Type: Conventional
Closed: 12/31/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 95-unit apartment community located in Spartanburg, SC. Embedded just outside of downtown Spartanburg in one of city’s most popular neighborhoods, Village at Willow Lakes sits near the top employment centers in the Upstate area where large investments have continually been made to expand and strengthen the Upstate job market. With affluent demographics boasting $90,000 average HHI and 66% white-collar employment within a 1-Mile radius, Village at Willow Lakes offers the chance to boost NOI by 30% by completing a market driven value-add campaign set to achieve $100 premiums while still maintaining an extensive rent runway to key comparables in the submarket.
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Village at Willow Lakes
95 Units
2900 Reidville Road
Spartanburg, SC  29301
Closed: 12/31/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 93-unit Lake Ridge apartment community located in Apex, North Carolina. This affluent suburb outside of Raleigh boasts blue chip demographics that see a resident base of 80% white collar workers bringing home an average household income of over $130K. This unique asset with highly desirable townhome floorplans is walking distance to downtown Apex, and is one of only ten market-rate, garden style properties in Apex - and is the only asset built before 1997. Lake Ridge offers an outstanding value-add opportunity that would see rental premiums of $200, and ultimately see a 45% increase to NOI propped up by an affluent renter base that can support future rent increases.
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Lake Ridge
93 Units
503 West Chatham Square
Apex, NC  27502
Type: Conventional
Closed: 12/23/2019
Cushman & Wakefield San Antonio Commercial Advisors is pleased to present the exclusive listing of 34 units at Calder’s Corner. Calder's Corner is a 40 unit boutique condo/apartment community with an irreplaceable location in north central San Antonio. Located near the intersection of Jones Maltsberger and Thousand Oaks, the property is in close proximity of many of the employment centers and amenities that make the north central submarket desirable. These dynamics have generated impressive rent growth in the submarket of approximately 6% over the past 12 months. Rental rates at Calder’s Corner are well below competing properties providing great upside for a new owner. Calder’s Corner features a well-designed and thoughtful layout of ten separate two story buildings with mature oak trees and landscaping that create a tranquil living environment. Units are a mix of flats and townhomes - many have private yards. McAllister Park is just south of the property, which includes North East Independent School District sports park, McAllister Soccer Fields, playgrounds, dog parks, and miles of hike and bike trails. The property is one mile south of the Thousand Oaks Shopping Center which includes an H-E-B grocery store, Bank of America, Bealls, and other restaurant and retail services. Calder’s Corner is a tremendous value-add opportunity for an investor in a highly sought after north central San Antonio location.
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Calder's Corner
34 Units
2718 Old Field Drive
San Antonio, TX  78247
Closed: 12/20/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 118-unit The Park at Peachtree Hills apartment community located in Atlanta, Fulton County, Georgia. This asset is situated in the burgeoning Lindbergh submarket of Buckhead, which is wedged between the Piedmont Road and Peachtree Road corridors with immediate access to GA Highway 400, Interstates 85/75, and MARTA transit. The superlative locale is flourishing with new upscale developments redefining the south Buckhead district. Built in 1965, The Park at Peachtree Hills offers a rare opportunity to invest in a value-add asset with an irreplaceable location in one of the most affluent rental markets in Atlanta.
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The Park at Peachtree Hills
118 Units
480 Peachtree Hills Avenue NE
Atlanta, GA  30305
Type: Conventional
Closed: 12/20/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of Palladian at Daphne - 120 units located within the affluent Daphne municipality of Mobile, Alabama. Baldwin County, the fastest growing county in the state, has garnered 53% population growth since 2000 and boasts a median HH income nearly 25% greater than the statewide statistic. Situated along the desirable Eastern Shore of Mobile, Palladian at Daphne enjoys an affluent resident profile and close proximity to quality retail and employment. The subject asset features massive, 1,800 SF average floor plans with 100% attached garages and ground floor entry, providing residents with "home style" living at a low cost per foot. Constructed in 2017, Palladian at Daphne offers the investor a newly delivered asset producing strong, stable cash flow in an A+ Daphne location.
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Palladian at Daphne
120 Units
27821 State Highway 181
Daphne, AL  36526
Closed: 12/19/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 288-unit Latitude @ The Commons apartment community located in Myrtle Beach, SC. Developed by Trammell Crow Residential, a multi-family development leader for over 40 years, Latitude @ The Commons is a timeless community offering best-in-class living and amenities. The only institutionally developed community in The Market Common, Latitude @ The Commons offers the most sought-after location in Myrtle Beach’s utmost upper-echelon lifestyle district, while offering residents immediate access to the Atlantic Ocean. Latitude @ The Commons offers new ownership the opportunity to purchase a core plus asset well below replacement cost in a market with dwindling supply compared to a population surge that is rivaling Charleston, SC, and well-surpassing coastal cities Savannah and Wilmington. Along with an outsized population growth comes a job market that is expected to outpace new deliveries by 20:1, priming the Myrtle Beach market for 14% rent growth through 2023 and a vacancy rate forecast to stay at 5%. Latitude @ The Commons is poised to generate average premiums of $145 by meeting the markets’ demand for high-end finishes and completing a Class-A renovation program bridging the rental gap between its competitors for which it currently trails by ~$200.
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Latitude @ The Commons
288 Units
2222 Crow Lane
Myrtle Beach, SC  29577
Type: Conventional
Closed: 12/18/2019

Downtown Coral Gables Location Along Miracle Mile
Fully Leased & Stabilized

Cushman & Wakefield, as exclusive advisor, is pleased to present the opportunity to acquire The Mile (the “Property”) – a boutique, Class-AA, 120 apartment home high-rise located adjacent to downtown Coral Gables and its famed Miracle Mile. Developed in 2016 and owned and managed by Greystar, the Property consists of a mix of one-, two-, and three-bedroom units, along with 3,000 square feet of fully occupied ground floor retail. The Property has exceptional walkability to jobs, dining and nightlife within downtown Coral Gables, resulting in a Walk Score of 92. Further, within a one-mile radius of the Property is 8.3 million square feet of office space. The Mile’s offering is a generational opportunity to acquire a new construction, Miami-Dade luxury high rise apartment community steps from the center of its most affluent and economically robust city.

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The Mile
120 Units
3622 Coral Way
Miami, FL  33145
Closed: 12/18/2019

Cushman & Wakefield is pleased to present a unique opportunity to purchase a ±8.2 net acre multifamily development site located on a major intersection in Phoenix’s rapidly transforming Central Corridor. This rare, hard-corner site is located along the Valley Metro Light Rail, with a station adjacent to the property at the corner of Central Avenue and Indian School Road. Phoenix’s urban revival has transformed the Central Corridor into a 24-hour live-work-play environment with new residential and trendy restaurants, coffee houses and bars. In addition to the Light Rail, the area has been influenced by anchor cultural, educational, research, sports and healthcare institutions, including Arizona State University’s 15,000-student downtown campus and the 1.5 billion dollar Phoenix Biomedical Campus. The result is an unprecedented demand for urban living solutions in the Central Corridor.

The opportunity consists of four (4) parcels with a combined total of ±356,905 square feet of developable land on the northwest corner of Central Avenue and Indian School Road. This transit oriented development site is bound by three streets.

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NWC Central & Indian School Development Site
8.2 Acres
Central Avenue & Indian School Road
Phoenix, AZ
Type: Land
Closed: 12/17/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of Sandstones - 172 units located in Pensacola, FL. The subject maintains a convenient location with close proximity to Hwy-98, a high-traffic thoroughfare which runs along the Gulf Coast of FL. Sandstones is centralized amongst major economic drivers that are contributing towards explosive financial growth for the region. Pensacola is benefiting from the upcoming Navy Federal Credit Union corporate campus expansion (5,000 jobs, $1.2B new investment). Built in 1966/1973 and strategically positioned along Hwy-98, Sandstones presents the opportunity to acquire a cash-flowing asset with market-backed value add upside.
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Sandstones
172 Units
190 N Old Corry Field Road
Pensacola, FL  32507
Type: Conventional
Closed: 12/17/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is excited to present the exclusive listing of The Hill, a 287-unit community strategically positioned in the heart of Atlanta’s medical powerhouse, Pill Hill. The Hill directly benefits from 20K+ healthcare jobs within a half-mile radius as well as direct access to Atlanta’s top employment and entertainment districts. Also, the property’s Brookhaven residential setting has a distinct neighborhood feel while boasting an average household income of $157K. High barriers to entry will shield The Hill from new supply, with no developable sites available in the immediate area and significant municipal zoning restrictions in the city of Sandy Springs.
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The Hill
287 Units
1160 Johnson Ferry Rd NE
Sandy Springs, GA  30342
Type: Conventional
Closed: 12/16/2019