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The Cushman & Wakefield Student Housing Group, in conjunction with the Carolinas Multifamily Team, is pleased to present the exclusive listing of Crawford Edge and Varsity Club, a combined 35-unit, 125-bed student housing portfolio located in Clemson, South Carolina. Located less than a mile from Clemson University, this two-property portfolio offers direct access into campus and is situated between two major southeast metros, Greenville, SC and Atlanta, GA. Built in 2015 and 2016, Crawford Edge and Varsity Club offer an investor the opportunity to realize organic rent growth with immediate cash flows and strong year-over-year returns.
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Clemson Portfolio (2 properties, 35 units)
Varsity Club
15 Units | 45 Beds
112 Summey Street
Clemson, SC  29631
Type: Student
Closed: 3/30/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Pines of Wilmington, a 233-unit apartment community in Wilmington, NC. Bolstered by recent capital improvements and robust operational momentum, The Pines of Wilmington offers investors a potential 38% boost to annual NOI through completion of an underway, proven value-add program. The asset is firmly cemented in a strong apartment market that is primed to benefit from development expansion moving southward. Furthermore, The Pines of Wilmington is near the principal economic drivers and premier retail nodes of Wilmington – an MSA characterized by rapid population growth, an expanding employment nucleus, and attractive demographics.
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The Pines of Wilmington
233 Units
1002 Mayflower Drive
Wilmington, NC  28412
Type: Conventional
Closed: 3/11/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 236-unit Osprey Cove North apartment community located in Jacksonville, NC. The asset is strategically located two miles from Jacksonville’s 2nd largest employer, Air Station New River (18,100 jobs). The property has received a capital infusion of $1.17M over the past 3 years, prepping the community for a proven value-add initiative that could potentially boost the trailing 2-month NOI by 11%. With 28 new deliveries since 2014 and nearly zero deliveries projected through 2023, the lack of a development pipeline will continue to drive rent increases as Jacksonville’s low-risk, stable economy.
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Osprey Cove North
236 Units
118 Broadhusrt Rd
Jacksonville, NC  28540
Type: Conventional
Closed: 3/4/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 8.83 acre Southpark Boulevard Land site located in Winston-Salem, NC. As part of a Master Planned Community called Heritage Park, the land is approved for 172 apartments, is mass graded, has utilities located on site, and is currently listed at $950,000. The property is located in South Winston-Salem, the submarket leader in annual rent growth and occupancy in 2019. The property is situated along the Peters Creek Parkway Growth Corridor, a targeted initiative recently approved by the City Council, that has already seen momentum build indicated by rising property values. This site offers investors a unique opportunity to invest in a growing Winston-Salem market which boasts low unemployment, trivial delivery pipeline, and a majority white-collar workforce.
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Southpark Boulevard Land
8.83 Acres
0 Grand Silo Way
Winston-Salem, NC  27127
Type: Land
Closed: 3/1/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 66-unit 2200 Midtown apartment community located in Greensboro, NC. This asset is firmly situated in a top performing submarket of the Triad with strong fundamentals and outstanding demographics, outpacing the broader metro on nearly all indicators. Built in 1965, 2200 Midtown offers a 77% completed value add program that is commanding solid premiums of over units leasing with standard features. As submarket household incomes approach $90K+ paired with a muted delivery pipeline, the market indicates support for higher-end finishes as Greensboro shifts its focus to target a white-collar workforce through educational attainment. Investors have the opportunity to increase annual income by $48K by pushing rents to achieve market supported premiums in a top Triad submarket for rent growth.
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2200 Midtown
66 Units
2200 Cornwallis Drive, West
Greensboro, NC  27408
Type: Conventional
Closed: 2/23/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Park at Village Oaks, 124-unit apartment community located in growing Leland, NC. Built in 2007, this property has carried out an extensive interior upgrade initiative, providing investors with a quality, competitive asset at a discount to replacement cost. With the heavy lifting out of the way, investors will have the opportunity to shift their focus to implement additional revenue streams, offering a potential 9% boost to annual NOI. Located only 4 miles from a booming downtown Wilmington, The Park at Village Oaks is perfectly situated to experience all Wilmington has to offer. In addition to the locational benefits of the Wilmington MSA, the site is in the heart of Leland’s Gateway District – an area the town has prioritized for immediate infill redevelopment.
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The Park at Village Oaks
124 Units
136 Parsley Lane
Leland, NC  28451
Closed: 2/23/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 112-unit Bellevue Mill Apartments located in Hillsborough, NC. The asset offers a unique opportunity to acquire the Managing Membership interest in a recently restored cotton mill apartment community completed through Historic Tax Credits. Listed on the National Register of Historic Places, Bellevue Mill is strategically located in a highly educated and high income market within the Triangle MSA. With $18.5M completed in construction and renovation costs, new ownership will be able to capitalize on a solid foundation established through a successful lease up in a supply constrained market with high barriers to entry. With an exceptional location and positive supply-demand dynamics in the Hillsborough/Chapel Hill multifamily market, Bellevue Mill is an attractive investment opportunity that will continue to enjoy organic rent growth as market fundamentals normalize.
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Bellevue Mill
112 Units
206 South Nash Street
Hillsborough, NC  27278
Type: Conventional
Closed: 1/15/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Sterling Magnolia, an irreplaceable core-plus value-add opportunity located in the exclusive submarket of Myers Park. The immediate area is defined by blue-chip demographics ($146,000 Average Household Income), luxurious homes ($536,000 Median Home Value) and proximity to Charlotte’s premier employment hubs, Uptown and Southpark, offering 150K jobs within a 10-minute drive of the property. The 174-unit, 2004-built asset features both garden and urban attributes, condo sized floorplans (1,121 average SF) and is situated in a submarket composed of Charlotte’s most affluent residents, offering investors a unique framework to complete a high-end value-add and close the $0.33 PSF rent delta to submarket competitors.
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Sterling Magnolia
174 Units
3720 Wendwood Lane
Charlotte, NC  28211
Type: Conventional
Closed: 12/29/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the East Charlotte 728 Portfolio consisting of Delta Crossing, The Avalon, and The Kelston apartment communities. The assets are situated adjacent to the 78-acre mixed-use Eastland Mall redevelopment, which is anchored by the Headquarters of Charlotte’s new Major League Soccer team. Convenient location to a desirable thoroughfare provides access to 250,000 jobs within a 15-minute drive, as well as the most popular entertainment hubs throughout the city. Strong demographic trends show a 14% increase to average household incomes over the next 5 years that will support continued rent growth. The East Charlotte 728 Portfolio represents an outstanding opportunity to realize rental premiums of up to $200 which nearby competitive properties are currently achieving in this rapidly transforming submarket.
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The Avalon
240 Units
6000 Regal Estates Drive
Charlotte, NC  28212
Type: Conventional
Closed: 12/23/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the Southeast Value-Add 4 Portfolio – four assets located in the desirable submarkets of Spartanburg, SC, Myrtle Beach, SC, Biloxi, MS, and Warner Robins, GA. The portfolio represents the opportunity to invest in strong quality assets across multiple southeastern states. Situated in bustling micro locations with premier access to major thoroughfares and jobs, these assets are poised for substantial growth through value-add strategies and market-backed rental upside.
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Southeast Value-Add 4 Portfolio (4 properties, 780 units)
Brighton Park
200 Units
9000 Watson Boulevard
Byron, GA  31095
Closed: 12/22/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the East Charlotte 728 Portfolio consisting of Delta Crossing, The Avalon, and The Kelston apartment communities. The assets are situated adjacent to the 78-acre mixed-use Eastland Mall redevelopment, which is anchored by the Headquarters of Charlotte’s new Major League Soccer team. Convenient location to a desirable thoroughfare provides access to 250,000 jobs within a 15-minute drive, as well as the most popular entertainment hubs throughout the city. Strong demographic trends show a 14% increase to average household incomes over the next 5 years that will support continued rent growth. The East Charlotte 728 Portfolio represents an outstanding opportunity to realize rental premiums of up to $200 which nearby competitive properties are currently achieving in this rapidly transforming submarket.
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The Kelston
310 Units
1207 Kelston Place
Charlotte, NC  28212
Type: Conventional
Closed: 12/10/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the Southeast Value-Add 4 Portfolio – four assets located in the desirable submarkets of Spartanburg, SC, Myrtle Beach, SC, Biloxi, MS, and Warner Robins, GA. The portfolio represents the opportunity to invest in strong quality assets across multiple southeastern states. Situated in bustling micro locations with premier access to major thoroughfares and jobs, these assets are poised for substantial growth through value-add strategies and market-backed rental upside.
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Southeast Value-Add 4 Portfolio (4 properties, 780 units)
Villas at Lawson Creek
202 Units
9159 Asheville Highway
Boiling Springs, SC  29316
Type: Conventional
Closed: 12/3/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the Southeast Value-Add 4 Portfolio – four assets located in the desirable submarkets of Spartanburg, SC, Myrtle Beach, SC, Biloxi, MS, and Warner Robins, GA. The portfolio represents the opportunity to invest in strong quality assets across multiple southeastern states. Situated in bustling micro locations with premier access to major thoroughfares and jobs, these assets are poised for substantial growth through value-add strategies and market-backed rental upside.
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Southeast Value-Add 4 Portfolio (4 properties, 780 units)
The Lexington
190 Units
2620 Lejeune Drive
Biloxi, MS  39531
Type: Conventional
Closed: 12/2/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the East Charlotte 728 Portfolio consisting of Delta Crossing, The Avalon, and The Kelston apartment communities. The assets are situated adjacent to the 78-acre mixed-use Eastland Mall redevelopment, which is anchored by the Headquarters of Charlotte’s new Major League Soccer team. Convenient location to a desirable thoroughfare provides access to 250,000 jobs within a 15-minute drive, as well as the most popular entertainment hubs throughout the city. Strong demographic trends show a 14% increase to average household incomes over the next 5 years that will support continued rent growth. The East Charlotte 728 Portfolio represents an outstanding opportunity to realize rental premiums of up to $200 which nearby competitive properties are currently achieving in this rapidly transforming submarket.
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Delta Crossing
178 Units
6000 Delta Crossing Lane
Charlotte, NC  28212
Type: Conventional
Closed: 11/10/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 233-unit, 1970-built Margate on Cone apartments located in Greensboro, NC. The property offers an outstanding opportunity to invest in a solid performing asset within the economic powerhouse of the Piedmont Triad MSA. The immediate area surrounding Margate on Cone is experiencing a significant amount of spill-over from the city’s most affluent districts, creating a path of growth and development that will help facilitate value enhancement at the property. With all but thirty-four (34) units on the property remaining untouched and rents currently trailing the submarket average by more than $100, new ownership will have the opportunity to capitalize on a two-prong, market supported value-add program through implementing an interior upgrade initiative and implementing utility reimbursements.
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Margate on Cone
233 Units
900 East Cone Boulevard
Greensboro, NC  27405
Type: Conventional
Closed: 11/10/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 1995-built, 156-unit Terrace at Olde Battleground , the 1986-built, 120-unit Terrace Oaks apartment community, and 180-unit Madison Woods apartment community located in Greensboro, NC. New ownership has the opportunity to inherit a well-maintained value-add duo, Terrace Oaks & Terrace at Olde Battleground, that could capture a combined 34% increase to portfolio NOI through a targeted interior renovation program, and taking advantage of portfolio operating efficiencies to bring variable expenses more in line with the market. Built in 1968/1973, Madison Woods offers newly implemented revenue streams along with a trial value-add program that is commanding average premiums of $157/mo. over units leasing with standard features.
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Greensboro Value-Add 3 Portfolio (3 properties, 456 units)
Madison Woods
180 Units
5505-A Tomahawk Drive
Greensboro, NC  27410
Type: Conventional
Closed: 11/2/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 1995-built, 156-unit Terrace at Olde Battleground , the 1986-built, 120-unit Terrace Oaks apartment community, and 180-unit Madison Woods apartment community located in Greensboro, NC. New ownership has the opportunity to inherit a well-maintained value-add duo, Terrace Oaks & Terrace at Olde Battleground, that could capture a combined 34% increase to portfolio NOI through a targeted interior renovation program, and taking advantage of portfolio operating efficiencies to bring variable expenses more in line with the market. Built in 1968/1973, Madison Woods offers newly implemented revenue streams along with a trial value-add program that is commanding average premiums of $157/mo. over units leasing with standard features.
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Greensboro Value-Add 3 Portfolio (3 properties, 456 units)
Terrace at Olde Battleground
156 Units
3800 Cotswold Avenue
Greensboro, NC  27410
Type: Conventional
Closed: 11/2/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 1995-built, 156-unit Terrace at Olde Battleground , the 1986-built, 120-unit Terrace Oaks apartment community, and 180-unit Madison Woods apartment community located in Greensboro, NC. New ownership has the opportunity to inherit a well-maintained value-add duo, Terrace Oaks & Terrace at Olde Battleground, that could capture a combined 34% increase to portfolio NOI through a targeted interior renovation program, and taking advantage of portfolio operating efficiencies to bring variable expenses more in line with the market. Built in 1968/1973, Madison Woods offers newly implemented revenue streams along with a trial value-add program that is commanding average premiums of $157/mo. over units leasing with standard features.
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Greensboro Value-Add 3 Portfolio (3 properties, 456 units)
Terrace Oaks
120 Units
3803 Cotswold Avenue
Greensboro, NC  27410
Type: Conventional
Closed: 11/2/2020
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.
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Den on Varsity
53 Units
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.
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Reserve at Bradbury Place
288 Units
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.
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Peppertree
353 Units
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.
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Marquis Gardens
400 Units
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.
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Flats on 7th
136 Units
917 Seventh Avenue
Garner, NC  27529
Type: Conventional
Closed: 10/15/2020
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