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Displaying results 1-24 of 160

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Den on Varsity, a recently renovated, 53-unit asset located in Raleigh, North Carolina. On the west side of Raleigh, Den on Varsity is adjacent to North Carolina State University, located within one of the strongest performing MSAs in the country over the past several years. Built in 1972, the property has recently stabilized following a significant repositioning through a capital infusion of $1.29M, or $24k/unit. Den on Varsity offers an outstanding opportunity to invest in a turn key asset primed to capitalize on future rent growth in one of the most recession resistant markets in the United States.

1527 Crest Road
Raleigh, NC 27606

Type: Conventional

Closed: 10/30/2020

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 288-unit Reserve at Bradbury Place apartment community located in historic Goldsboro, NC. Thriving in a low-risk, stable economy, the asset offers a modern living experience in the heart of Eastern North Carolina with easy access to top employers and destinations. New ownership has the opportunity to capitalize on Goldsboro’s strong market where apartment rents have been rising at a 5.6% annual rate during the third quarter of 2020, and have posted an average annual gain of 3.7% over the past three years. With just 92 new deliveries since 2010 and zero deliveries projected through 2024, the lack of a development pipeline will continue to drive rent growth in this unique market supported by a young renter demographic.

Reserve at Bradbury Place

560 West New Hope Road
Goldsboro, NC 27534

Type: Conventional

Closed: 10/22/2020

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 353-unit Peppertree apartment community located in North Charleston, South Carolina. The asset is situated off Dorchester Road in close proximity to the top employment drivers in North Charleston where large investments have continually been made to expand and strengthen the Charleston job market. Built in 1983/1989, Peppertree offers an outstanding opportunity to see a 25% Return on Investment by completing the in-place value-add program, with 83% of units left to renovate generating proven premiums of $160. Peppertree also offers potential investors attractive assumable in-place agency financing with a low interest rate.

4640 Forest Hills Drive
North Charleston, SC 29418

Type: Conventional

Closed: 10/20/2020

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 400-unit, Marquis Gardens apartment community located in Durham, NC. Built in 1972, this asset received a capital investment of over $2 Million including a clubhouse remodel and 7 roofs replaced in 2018. The surrounding market indicates that potential investors can capitalize on a 400-unit value add program, as current rental rates trail recently renovated competitor properties by $200. Marquis Gardens provides residents, a diverse workforce ranging from manufacturing to global tech industries, with the best value in Durham. The growing infrastructure of Durham, muted submarket supply, and ease of accessibility to retail and jobs, provide a very positive future for potential investors.

Marquis Gardens

901 Chalk Level Road
Durham, NC 27704

Type: Conventional

Closed: 10/19/2020

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 136-unit Flats on 7th apartment community located in Raleigh, North Carolina’s burgeoning suburb of Garner. The property is surrounded by premier retailers and major thoroughfares, providing access to nearby employment hubs and a surging downtown. A recent $3.8 million capital infusion has prompted strong operational momentum and distinguished the asset as the foremost property of its vintage in the submarket. A lack of new supply, a rapidly expanding population, and the second highest occupancy levels across the market have created ideal rent growth conditions. Built in 1982 and renovated in 2018, Flats on 7th represents an outstanding investment opportunity for new ownership to capture $20,000 in immediate organic rent growth as old leases turn, while also capturing the projected 10% rent growth in the submarket over the next 3 years.

917 Seventh Avenue
Garner, NC 27529

Type: Conventional

Closed: 10/15/2020

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Residences at Diamond Ridge, a 336-unit apartment community located in Winston-Salem, North Carolina inside of the thriving Piedmont Triangle market, which ranked 7th in the nation for non-major market rent growth in the first quarter of 2020. The property’s strategic location within 10 minutes of the Triad’s most prominent employment and entertainment hubs will benefit from an economic evolution towards innovative fields of technology and medicine which is spurring the nationally recognized growth. Constructed in two phases (1962/1972), The Residences at Diamond Ridge represents a unique, large-scale investment opportunity, which has received over $1.2M in capital investment over the past 18 months and is now primed to realize a 71% increase to NOI through a targeted interior value-add program.

The Residences at Diamond Ridge

730 Anson Street
Winston-Salem, NC 27103

Type: Conventional

Closed: 10/9/2020

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Residences at Fayetteville, a 120-unit apartment community located in Fayetteville, North Carolina. The property 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 1969 and renovated in 2019, The Residents at Fayetteville offers an outstanding opportunity to invest in an asset with very little deferred maintenance after a recent $1M+ capital infusion. Furthermore, an extremely successful in-place multi-pronged value-add initiative is underway, presenting upside of a potential 20% boost in annual NOI.

The Residences at Fayetteville

600 Ashbrook Court
Fayetteville, NC 28314

Closed: 9/22/2020

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.

Magnolia Terrace

8301 Paces Oaks Boulevard
Charlotte, NC 28213

Type: Conventional

Closed: 8/31/2020

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.

Capital Flats & Magnolia Square

500 E Hargett Street
Raleigh, NC 27601

Closed: 8/24/2020

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 336-unit, North Lakes apartment community located in Greensboro, NC. The property offers an outstanding opportunity to invest in a well-performing asset within the economic powerhouse of the Piedmont Triad, strategically located beside a proposed exit off the future Greensboro Urban Loop (840). Built in 1972, North Lakes received a capital investment of over $2 Million in exterior amenities, including 71 roofs replaced in 2019, and ownership-implemented interior upgrades to 125 units. The immediate area is compacted with blue chip demographics, with averages HHI’s of over $94K expected to rise 13% by 2024. A high income renter base paired with the planned Urban Loop presents potential investors with the opportunity to complete the in-place value add program on the remaining 211 units to achieve an additional 26% in annual NOI.

2905 Cottage Place
Greensboro, NC 27455-2305

Type: Conventional

Closed: 8/14/2020

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 180-unit The Hamptons apartment community (the "Property") located in Charlotte, North Carolina. Built in 1996, The Hamptons represents the ideal value-add investment vehicle. The current value-add program is realizing average rental premiums of $170, and a new owner will be poised to capture a 16% increase in NOI through the completion of the program. The Property is situated in an optimal location along prominent thoroughfare, W.T. Harris Blvd, which provides access to the region’s premier retailers and largest employment nodes - totaling 114,000 jobs within 5 miles. The tailwinds of rising home values and increased employment in North Charlotte have resulted in ideal submarket growth fundamentals. Projections show the submarket realizing 3.3% year-over-year rent growth through 2023, resulting in an average rent increase of $148.

8415 University Station Circle
Charlotte, NC 28269

Type: Conventional

Closed: 8/14/2020

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 128-unit Hunt Club apartment community located in Winston-Salem, North Carolina. This asset is situated in the rapidly-expanding Piedmont Triad, which saw market leading rent growth for the Southeast in the second quarter of 2019. The thriving economy of Winston-Salem has seen over $800M in funding for the Wake Forest Innovation Quarter while witnessing an influx of new residents seeking exciting opportunities in the tech and science fields. As a result, the immediate 3-mile radius around Hunt Club boasts extremely attractive demographics with the population consisting of 48% renters that bring home an average household income of over $86,000. Built in 1985, Hunt Club represents an outstanding opportunity to see a 50% NOI boost through the implementation of a market supported, interior value-add program that would command rental premiums of up to $150.

103 Echo Glen Drive
Winston-Salem, NC 27106

Type: Conventional

Closed: 7/30/2020

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of 511 Queens, a 64-unit boutique apartment community located in Charlotte’s affluent submarket of Myers Park. The walkable neighborhood is defined by upscale retail, trendy restaurants, and is one of the most sought-after residential submarkets in the Southeast. Myers Park is nestled between Uptown, the vibrant downtown employment district offering 116,000+ jobs, and SouthPark, a premier infill live-work-play destination. It is also moments from the city’s largest hospitals of Novant and Atrium, creating 32,000+ total jobs. Propelled by luxurious best-in-class features and a distinguished presence along Queens Road, 511 Queens arrives nearing stabilization after a rapid lease-up with strong in-place rents. With stabilization imminent, investors are ideally positioned to realize embedded rent growth driven by the continuation of proven lease-up concession burn off, attractive fundamentals highlighted by blue-chip renter profiles, and catalyzing new development surrounding Myers Park, positioning 511 Queens as Charlotte’s premier boutique asset.

511 Queens Road
Charlotte, NC 28207

Type: Conventional

Closed: 6/16/2020

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 80-unit Briarcliff apartment community located in Wilson, NC. This asset is situated within close proximity to the area’s premier retail and employment and is also strategically located near the intersection of I-95 and I-795, providing ease of access to both Raleigh and Wilmington. In addition to the location advantages, the submarket has seen a phenomenal 6% year-over-year rent growth since 2016. This growth is a result of an increasingly affluent renter base who are projected to see a 10% increase to HHI income over the next 5 years, while unemployment levels dwindle to 3.8%. Built in 1966, Briarcliff represents the opportunity to investment in an asset that has recently received a large-scale exterior renovation and is primed to see a 50% increase to NOI through a multipronged value-add program.

400 Crestview Ave SW
Wilson, NC 27893

Closed: 4/23/2020

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Nissen Building Apartments - a 145-unit, historic mixed-use, high-rise asset in the heart of flourishing downtown Winston-Salem. Attention to detail during the 2005 Nissen Building redevelopment, unique amenities, and existing quality of finishes provides the ideal canvas for a market-supported value-add platform to close a $200+ rent gap to competing downtown properties, while a perpetual 50% tax abatement drives cash flow. With frontage on 4th Street, Nissen Building residents enjoy supreme walkability to the Triad’s largest employers and eclectic entertainment venues in downtown Winston-Salem - a center city submarket that has witnessed nearly $2B of investment since 2000 as part of a continued renaissance. Drastically underserved by class A apartment units, downtown Winston-Salem boasts picture-perfect supply/demand fundamentals, offering investors of Nissen Building Apartments a chance to acquire a high-rise asset at an attractive basis with a protected rent growth runway.

Nissen Building Apartments

310 Fourth Street West
Winston-Salem, NC 27101

Type: Conventional

Closed: 4/17/2020

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 360-unit, Abbington Place apartment community located in Greensboro, North Carolina. Built in 2 phases (1995/1997), the low-density property received a recent capital investment of $3.86M that included new roofs, community amenity and parking lot enhancements, structural repairs, and interior upgrades to 65% of units. The demographics of the 1-mile radius surrounding Abbington Place outperform the broader market on nearly all fronts, with a 72% white collar workforce, 1.9% unemployment rate, and 50% of the population possessing higher education degrees. As the Greensboro-High Point MSA pipeline remains steady, the submarket will see a pause in development, having absorbed a recent surge in supply with ease. This strong market indicates the potential to take current, mid-tier renovations a step further at the property with the opportunity to boost annual NOI by 41% through a multi-faceted value-add 2.0 program.

Abbington Place

1521 Bridford Parkway
Greensboro, NC 27407

Type: Conventional

Closed: 4/14/2020

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Residences at Diamond Ridge (336 units) and The Residences at 1805 (200 units) apartment communities located in the thriving Piedmont Triad, which ranked 4th in the nation for non-major market rent growth in the second quarter of 2019. Both properties enjoy excellent proximity to the largest employment hubs across the Triad, as The Residences at Diamond Ridge is bordering downtown Winston-Salem (27,000+ jobs), and The Residences at 1805 is only a short drive from the Piedmont Triad International Airport area (26,000+ jobs) in Greensboro. After receiving a combined capital infusion of nearly $2 million over the past 18 months, both assets are primed to complete targeted interior value-add programs that would see rental premiums of $100-150, resulting in an annual NOI boost of up to 86%.

The Residences at 1805

1805 Fairfax Road
Greensboro, NC 27407

Type: Conventional

Closed: 3/31/2020

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 264-unit, Vantage at Wildewood apartment community. Delivered in 1998, Vantage at Wildewood is located in the heart of Richland County’s Northeastern path of growth. Residents enjoy seamless access to the premier retail and employment in an area defined by an exceptional demographic base, including an average HHI of over $94,000 within a three-mile radius. Bolstered by large floor plans, substantial interior renovations completed throughout 2012-2013, and outstanding amenities, the property is poised to bridge a significant rental delta in effective rents with market competitors through a market-supported Class-A renovation initiative to capture $150 premiums.

Vantage at Wildewood

811 Mallet Hill Road
Columbia, SC 29223

Type: Conventional

Closed: 3/31/2020

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 318-unit, 2001-built Stone Ridge & 252-unit, 1996-built Whitehall Estates apartment communities located in Charlotte, NC. Bound by an abundance of employment, including an average of +71,500 jobs within a 3-mile radius and +42.8M SF of industrial, office, and retail space, the properties provide an unmatched, connected suburban location. The duo is primed to continue benefitting from prolific economic development and population influx driving a +9.25% submarket rent growth projection through 2022, while portfolio operating synergies bolster consistently strong financial performance. With significant rent headroom of +$400 per unit to submarket leaders, new ownership is ideally positioned to continue the dynamic in-process value-add program or execute an enhanced strategy to meet Class-A competitors.

Stone Ridge & Whitehall Estates (2 properties, 570 units)

8940 Camden Creek Lane
Charlotte, NC 28273

Type: Conventional

Closed: 3/13/2020

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 318-unit, 2001-built Stone Ridge & 252-unit, 1996-built Whitehall Estates apartment communities located in Charlotte, NC. Bound by an abundance of employment, including an average of +71,500 jobs within a 3-mile radius and +42.8M SF of industrial, office, and retail space, the properties provide an unmatched, connected suburban location. The duo is primed to continue benefitting from prolific economic development and population influx driving a +9.25% submarket rent growth projection through 2022, while portfolio operating synergies bolster consistently strong financial performance. With significant rent headroom of +$400 per unit to submarket leaders, new ownership is ideally positioned to continue the dynamic in-process value-add program or execute an enhanced strategy to meet Class-A competitors.

Stone Ridge & Whitehall Estates (2 properties, 570 units)

Whitehall Estates

2400 Whitehall Estates Drive
Charlotte, NC 28273

Type: Conventional

Closed: 3/12/2020

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 100-unit, Hidden Park & the 100-unit, Quail Pointe apartment communities located in Spartanburg, SC. Embedded just outside of downtown Spartanburg Hidden Park & Quail Pointe sits in close proximity to the top employment centers in the Upstate area where large investments have continually been made to expand and strengthen the Upstate job market. With a massive infusion of $1.2 million, and affluent demographics, Hidden Park & Quail Pointe offers the chance to boost NOI by 48% with over 84% of units left to renovate generating $100 premiums.

Hidden Park & Quail Pointe (2 properties, 200 units)

320 Spruce Street
Spartanburg, SC 29303

Closed: 3/9/2020

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 100-unit, Hidden Park & the 100-unit, Quail Pointe apartment communities located in Spartanburg, SC. Embedded just outside of downtown Spartanburg Hidden Park & Quail Pointe sits in close proximity to the top employment centers in the Upstate area where large investments have continually been made to expand and strengthen the Upstate job market. With a massive infusion of $1.2 million, and affluent demographics, Hidden Park & Quail Pointe offers the chance to boost NOI by 48% with over 84% of units left to renovate generating $100 premiums.

Hidden Park & Quail Pointe (2 properties, 200 units)

460 East Blackstock Road
Spartanburg, SC 29301

Closed: 3/9/2020

The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of The Hollows, a 212-unit apartment community located in Columbia, SC. Embedded between Downtown Columbia and one of the largest retail corridors, Harbison Boulevard, The Hollows sits near the top employment centers in the area where multiple large investments have continually been made to expand and strengthen the Metro job market. With large forecasted rent growth, top submarket rankings in growth (5.10%) and concession values in the second quarter of 2019, The Hollows offers the chance to boost NOI by $123,000 with over 42% of unit interiors left to be renovated, bringing them in-line with fully renovated units that are averaging $50-$75 rent premiums.

1300 Longcreek Drive
Columbia, SC 29210

Type: Conventional

Closed: 3/6/2020

The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 279-unit Nottingham apartment community located in Monroe, NC. Built in 3 Phases (1985, 1995, 2001), this asset offers investors a true value add initiative with all-original units trailing the central submarket by over $300. The property recently renovated a trial unit with vinyl wood flooring and has signed a lease $360 above the effective rental average for this floorplan. With no units under construction and only 262 units proposed, the area offers an opportune time to make significant strides in submarket where population & employment growth continues to thrive. Investors have the opportunity to increase annual NOI by 58% through multiple revenue streams including a market-driven interior upgrade initiative, trash income, water/sewer submetering, and washer/dryer appliance rentals.

2613 Nottingham Lane
Monroe, NC 28110

Type: Conventional

Closed: 2/27/2020

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