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The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Edgewater Crossings, a 266-unit, 2014-built apartment community located along Florida’s Gulf Coast. Edgewater Crossings offers residents a "beach-style" living experience with close proximity to all of Panama City Beach’s lifestyle amenities. The area is home to some of the nicest beaches in the U.S. which continues to drive strong population and rent growth, respectively. Built in 2014, Edgewater Crossings represents an outstanding opportunity to invest in an institutional quality asset with extraordinary cash flow in the desirable Panama City Beach submarket.
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Sold
Edgewater Crossings
266 Units
204 Potters Bluff Drive
Panama City Beach, FL  32408
Type: Conventional
Closed: 10/13/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Gulf Stream, a 64-unit, 2021-built townhome community located in thriving the Orange Beach community in Baldwin County, AL. Gulf Stream is a Class A, purpose-built BTR townhome community situated 3 miles from pristine beaches ($5B+ economic impact) & 2 miles from The Wharf, a famous 222-acre entertainment district. Arriving to market 98% occupied with excellent in-place rent growth trends (9.26% organic growth), Gulf Stream is poised as a market leader in its asset class and will continue to benefit from explosive population growth nearby. Fully delivered in May 2021, Gulf Stream is the premier townhome community along the AL Gulf Coast. With 64 3 BR townhomes featuring 100% ground floor entry, attached garages, & premiere unit features, Gulf Stream offers a quality BTR townhome product with professional property management efficiencies. Given its strategic location & strong leasing trends, Gulf Stream presents an outstanding opportunity to acquire a unique property along the Gulf Coast.
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Sold
Gulf Stream
64 Units
24804 Gulf Stream Cir
Orange Beach, AL  36561
Type: Conventional
Closed: 9/27/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Michael - 159 fully renovated, Class A units in the heart of Historic Downtown Mobile. Downtown has been truly transformed over the last 5 years and will continue to see an influx of jobs, capital, and residents migrating to the urban core. The Michael is a QOZ (qualified opportunity zone) asset which will provide future ownership with significant tax benefits. Current ownership has spent over $5.2M for full interior, exterior, and amenity renovations - now offering residents luxury finishes with modernized use of space while maintaining walkability to quality dining, shopping, and entertainment options. The Michael represents the rare opportunity to acquire heavily capitalized, well-located, turn-key asset far below replacement cost.
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Sold
The Michael
159 Units
758 St. Michael Street
Mobile, AL  36602
Type: Conventional
Closed: 9/2/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Moderne at Providence, a 300-unit, 2017-built apartment community located in the flourishing Providence District of Northwest Huntsville. Huntsville, arguably one of the hottest economic metros in the U.S., has added 12K+ jobs & $5B of capital investments since 2018. The area has experienced 9.7% annualized apartment rent growth in Q1 2020 following 6.2% in 2018 and 7.9% in 2019. The subject sits just north of Cummings Research Park within the Providence District, a high-end neighborhood centered around boutique retail, townhomes, and office space. Delivered in August 2017, The Moderne at Providence is a Class A asset primed for a targeted interior value add campaign which is projected to yield substantial rent premiums. The asset arrives to market with stellar historical performance and embedded organic rent growth. The subject’s quality construction, retail walkability, and connectivity to massive job cores will position future ownership to achieve profitable upward momentum.
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Sold
The Moderne at Providence
300 Units
30 Gates Mill Street NW
Huntsville, AL  35806
Type: Conventional
Closed: 7/27/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 94-unit TimberChase apartment community located in Birmingham, AL. This asset is nestled in-between Downtown Birmingham and the affluent municipalities of Homewood and Vestavia Hills with close-proximity to all employment and community amenities in the Birmingham MSA. With a quality physical plant in place, the next investor can round out the interiors and initiate light exterior upgrades to push rents by $100+. Nearby properties have proven value add success on recently renovated units. Built in 1973, TimberChase offers an outstanding opportunity to invest in a well-located, performing asset with quick access to all of Birmingham’s top employment and recreational amenity centers.
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Sold
TimberChase
94 Units
925 Beacon Parkway East
Birmingham, AL  35209
Closed: 7/14/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 301-unit ARIUM Emerald Isle apartment community located in Fort Walton Beach, FL. This asset is well-located with close proximity to state ranked schools, and all of Ft. Walton’s primary economic drivers. The Ft. Walton Beach market has seen tremendous growth with 6%+ Avg. YoY rent growth since 2017 providing the next investor a solid base to initiate high-yield upgrades and boost rents $100-$175+. Built between 1989-1996, ARIUM Emerald Isle offers an outstanding opportunity to invest in an asset with walkability to quality retail and commercial properties and major value add upside.
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Sold
ARIUM Emerald Isle
301 Units
214 Racetrack Road
Fort Walton Beach, FL  32547
Type: Conventional
Closed: 6/30/2021