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The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 240-unit ARIUM Homeplace apartment community located in the highly desirable Prattville, Alabama. Prattville has observed 40% population growth since 2000, and James Hardie just announced a $220M project (200+ new jobs) just 2.5 miles southwest of the subject. This asset is situated within the master-planned Homeplace community, consisting of nearly three million square feet of retail space, Capitol Hill Golf Club, upscale residential, and a Marriott hotel. Built in 2014, ARIUM Homeplace offers the investor the opportunity to acquire Prattville’s premier multifamily community, boasting Humphrey’s Big House Design and top tier luxury amenities. The next investor will be acquiring an asset with a powerful lease trajectory and a track record of collections growth.
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ARIUM Homeplace
240 Units
790 Old Quarters Road
Prattville, AL  36066
Type: Conventional
Closed: 12/21/2017
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 168-unit Ashford Place apartment community located in Mobile, Alabama. This asset is situated in the highly sought-after West Mobile submarket, home to key economic drivers such as Providence Hospital (1,550 jobs), Publix & Whole Foods, University of South Alabama, Mobile Regional Airport, and over 3 million square feet of quality retail. Built in 1983, Ashford Place is generating exceptional demand from the rental market and has operated at economically full occupancy over the past year. With upward market pressure, the next investor will be able to capitalize by renovating the all original interiors to create additional value.
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Ashford Place
168 Units
6075 Grelot Road
Mobile, AL  36609
Type: Conventional
Closed: 6/20/2018
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 30-story City Center, an adaptive re-use opportunity located in Birmingham, AL. Comprised of nearly 700,000 square feet of vacated space in the heart of Downtown, City Center offers a once-in-a-cycle opportunity to acquire a large scale re-use project with unlimited future potential. Historically utilized as office space for AT&T, the next investor can modify the interior shell of City Center to open the doorway for multifamily, condos, class A office space, and boutique retail. With an 87 walkability score and heavy barriers to entry, City Center is in a profitable position for adaptive re-use. City Center, if converted to multifamily, would also offer the best walkability to the Central Business District and to the upcoming $300M BJCC project (new stadium, massive existing upgrades).
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City Center
325 Units
600 19th Street North
Birmingham, AL  35203
Closed: 11/1/2018
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 300-unit Commando Village apartment community located in Fort Walton Beach, Florida. The Florida Panhandle boasts a stable military backbone, with Eglin Air Force Base and Hurlburt Field (33,000 jobs total) within 15 minutes of Commando Village. The community boasts high visibility and access off Martin Luther King Jr Blvd, a major arterial corridor in Fort Walton Beach that connects with some of the area’s top employers. Built in 1992, Commando Village offers the investor an asset with massive floorplans, home-like amenities, and a proven value add campaign. The property currently operates under a ground lease set to expire in 2051, but there is high renewal potential.
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Commando Village
300 Units
302 Blessinger Drive
Fort Walton Beach, FL  32547
Closed: 3/14/2019