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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
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
The Cushman & Wakefield Southeast Multifamily Advisory Group is excited to present the exclusive listing of the 215-unit, Trailside at Reedy Point apartment community located in Greenville, SC. Embedded in one of the most vibrant and walkable areas of Downtown Greenville, Trailside at Reedy Point sits in close proximity to top employment centers, poised to capitalize on the large investments that have helped revitalize the downtown area. With rapid job expansion, employment growth of 14% since 2013, and one of the leading jobs-to-class A supply ratios in the Southeast, Trailside at Reedy Point is poised to capitalize on Greenville’s already impressive 27% rent growth since 2012.
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Trailside at Reedy Point
215 Units
200 South Academy Street
Greenville, SC  29601
Type: Conventional
Closed: 12/11/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 302-unit Lively Indigo Run apartment community located in Ladson, SC. Featuring awe-inspiring curb appeal, top-of-the-line interiors and a market leading amenity package, Lively Indigo Run is truly the premier multifamily asset in the Ladson area of North Charleston. With convenient I-26 access, the property is just minutes from Downtown Charleston as well as major employment centers including Boeing (8,200 jobs), Joint Base Charleston (22,000 jobs), the new Mercedes-Benz plant (1,300 jobs) and Volvo plant (2,000 jobs). Located within the Ingelside mixed-use development micromarket, the property offers an unmatched quality of life and is in close proximity to North Charleston’s most coveted retail and entertainment destinations. Lively Indigo Run is uniquely positioned to capitalize on long-term favorable market fundamentals.
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Lively Indigo Run
302 Units
9255 Blue House Road
Ladson, SC  29456
Type: Conventional
Closed: 11/15/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 202-unit Axiom apartment community located in the Charlotte, North Carolina. This asset is situated in rapidly expanding eastern Charlotte along a very desirable thoroughfare, which provides convenient access to 250,000 jobs within a 15-minute drive, as well as convenience to the most popular entertainment hubs throughout the city. Strong demographic trends show a 15% increase to household income over the next 5 years and an unemployment rate below 4% in the immediate three-mile radius. Built in 1987, Axiom represents an outstanding opportunity to invest in an untapped value-add that would realize $150-250 rental premiums and see an annual NOI Boost of nearly $475K representing a 57% increase over current levels.
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Axiom Apartments
202 Units
5625 Keyway Boulevard
Charlotte, NC  28215
Type: Conventional
Closed: 11/13/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of Inspire SouthPark, a generational, 369-unit NGBS-Bronze-Certified apartment community located in Charlotte’s most affluent submarket of SouthPark. As one of the most sought-after residential locations in the Southeast, SouthPark is infill Charlotte’s premier live-work-play destination defined by upscale retail, trendy restaurants, and Fortune 500 employment centers across a walkable urban backdrop. Recognized as the city’s "Best Residential Development" by the Charlotte Business Journal at the 2018 CRE Heavy Hitters Awards, Inspire SouthPark boasts best-in-market amenities focused on micro-experiences, a distinguished presence along heavily-trafficked Sharon Road, and the neighborhood’s best access to Charlotte’s CBD. With stabilization imminent following Inspire SouthPark’s remarkably rapid lease-up, investors are ideally positioned to realize embedded rent growth driven by the continuation of lease-up burn off, attractive fundamentals highlighted by blue-chip renter profiles, and catalyzing new development that will redefine SouthPark’s positioning as Charlotte’s premier submarket.
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Inspire SouthPark
369 Units
345 Sharon Township Lane
Charlotte, NC  28211
Type: Conventional
Closed: 11/12/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of Laurel View, a newly-constructed 174-unit apartment community in Charlotte, NC’s thriving suburb of Concord. Recently stabilized in Feb-2019 after rapid absorption, Laurel View offers new ownership the chance to acquire a brand new asset poised for immediate rent growth to close the current $160+ gap to class A competitors in Concord - an affluent suburban submarket defined by well-educated residents and dominant white collar employment. Concord’s diminishing supply pipeline ideally positions Laurel View within an insulated competitive submarket that offers blue-chip convenience to expanding lifestyle amenities and Charlotte’s most prominent job centers via seamless access to I-85.
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Laurel View
174 Units
350 Joshua Place NW
Concord, NC  28027
Type: Conventional
Closed: 11/6/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 250-unit, 180 West apartment community located in Carrboro, NC. Built in 1987, 180 West offers an outstanding opportunity to invest in a quality asset that received an investment of $875,000 since 2017. After a recent new construction of 94 units in the area in the past 12 months, no new supply is in the delivery pipeline through 2023, of which Carrboro has not seen any new multifamily developments in 10 years. The growing demand of Chapel Hill paired with Carrboro’s high barriers for new supply poises the property for consistent returns and an opportunity to boost annual NOI by 26% through implementation of a proven value add program, evidenced by higher rental rates at inferior competitor properties.
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180 West
250 Units
180 BPW Club Road
Carrboro, NC  27510
Type: Conventional
Closed: 11/1/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is excited to present the exclusive listing of the historic, 166-unit Highland Mill Lofts apartment community in the heart of Charlotte, North Carolina’s unique epicenter for arts and entertainment, the North Davidson neighborhood (NoDa). With a prominent presence on North Davidson Street, and barbelled by two LYNX Blue Line stations, Highland Mill Lofts offers investors the rare opportunity to acquire a historic landmark that provides a 50% perpetual annual tax abatement, boasts the largest floor plans in the submarket, and delivers a diversified income stream through over 11,000 sqft of leased retail space. Highland Mill Lofts is ideally positioned in Charlotte’s fastest growing submarket, as NoDa promises an attractive value proposition for those seeking a unique community with seamless connectivity.
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Highland Mill Lofts
166 Units
2901 N. Davidson Street
Charlotte, NC  28205
Type: Conventional
Closed: 10/16/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 240-unit Serenity Apartments at Fayetteville community located in Fayetteville, NC. Built in 1972, this asset received a recent investment of $1.12 million in improvements. The property is positioned in walking distance to high-end retail & dining options while surrounded by Fayetteville’s major arteries of I-295 & US-401, providing connectivity to the metro’s economic drivers and top employers. The MSA’s development pipeline has nearly stabilized after the delivery surplus from 2012-2014, offering an outstanding opportunity for an impactful 56% boost to NOI through multiple revenue streams including a water/sewer submetering program and a value add 2.0 initiative to bridge the $280 rental gap with submarket leaders.
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Serenity Apartments at Fayetteville
240 Units
157 Treetop Drive
Fayetteville, NC  28311
Type: Conventional
Closed: 10/10/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 268-unit Collins Crossing apartment community located in Carrboro, NC. This asset is situated on the Jones Ferry Rd/ NC-54 interchange with immediate access to the area’s premier retailers and economic drivers. Only 94 units are expected to deliver through 2021, of which Carrboro has not seen any new multifamily developments in 10 years. The growing demand of Chapel Hill paired with Carrboro’s lack of supply poises the property for consistent returns for years to come. Built in 1971, Collins Crossing offers an outstanding opportunity to invest in a quality asset that has received an investment of over $5.8 million since 2013.
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Collins Crossing
268 Units
501 Jones Ferry Road
Carrboro, NC  27510
Type: Conventional
Closed: 9/16/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the brand new, 323-unit Overton Row apartment community in the heart of Plaza Midwood, Charlotte’s authentic epicenter for millennial entertainment. With a prominent presence at the corner of Central Avenue and Hawthorne Lane, Overton Row offers the rare opportunity to acquire an institutional-quality midrise in the city’s most walkable urban nucleus. Nearing completion of the market’s pace-setting lease-up, Overton Row is poised to continue proven, robust rent growth on the next generation of leases, driven by Plaza Midwood’s insulation from new development, high-earning renter pool, and in-process infrastructure improvements that promise enhanced connectivity to the 135,000+ jobs in Charlotte’s CBD.
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Overton Row
323 Units
1201 Central Avenue
Charlotte, NC  28204
Type: Conventional
Closed: 9/12/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of The Vinings at Market Common, a 288-unit apartment community located in Myrtle Beach, SC. Featuring awe-inspiring curb appeal, top-of-the-line interiors, and a market leading amenity package, The Vinings at Market Common is truly the premier multifamily asset in Myrtle Beach. Located a stone’s throw from the Market Common retail district, the property offers an unmatched quality of life, in close proximity to Myrtle Beach’s most coveted retail and entertainment destinations. After a rapid concession-free lease-up to stabilization, new ownership has the opportunity to capitalize on a unique renovation program in South Carolina’s fastest growing county. The metro's job growth is expected to outpace new deliveries by 20:1 through 2021, uniquely positioning The Vinings at Market Common to capitalize on long-term favorable fundamentals.
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The Vinings at Market Common
288 Units
2501 Hammock Street
Myrtle Beach, SC  29577
Type: Conventional
Closed: 8/27/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of The District, a brand new, mixed-use community featuring 309 apartment units and 8,465 square feet of retail space located in urban Asheville, North Carolina’s focal point for retail and entertainment, the Historic Biltmore Village neighborhood. With unparalleled midrise design that represents the pinnacle of apartment living in Asheville, The District offers the rare opportunity to acquire the premier core asset in a rapidly expanding market. Recently achieving stabilization at the conclusion of Asheville’s best lease-up since 2015, The District is poised to continue proven 8%+ rent growth on the next generation of leases, driven by Buncombe County’s highest-earning renter pool, irreplaceable convenience to expanding blue-chip employers, and the highest jobs-to-supply ratio in the Carolinas.
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The District
309 Units
100 District Drive
Asheville, NC  28803
Type: Conventional
Closed: 8/7/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group, in conjunction with Cushman & Wakefield Student Housing Capital Markets, is pleased to present the exclusive listing of the 85-unit / 214-bed, 1969/1989/2005 built University Park located directly across the street from NC A&T State’s 11,000+ student campus. The property is equipped with one of the most diverse unit mix offerings in the submarket, including the only townhouse-style floorplans, coupled with a host of desirable unit features. University Park is well positioned for new ownership to capitalize on property level increases in occupancy and rental rates via hands-on management, strategic capital improvements and effective marketing.
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University Park (214 Beds)
85 Units | 214 Beds
425 Stedman Street
Greensboro, NC  27401
Type: Student
Closed: 8/1/2019