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The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 36-unit Anson Apartment community located in Winston-Salem, North Carolina. The asset is strategically positioned alongside the area’s major thoroughfares that connect the MSA’s multiple, major higher-ed institutions and economic drivers. Attractive demographic trends paired with 22% home value growth and 15% rent growth over the past year has brought attention to Winston-Salem as the Triad prepares for a major economic boom. National General Insurance, and the recently announced Toyota Battery Manufacturing plant are two projects that are intended to bring over 4,000 jobs to the area once completed. With industries expanding, Winston-Salem will continue to grow as the unemployment rate dwindles and population continues to increase. Anson Apartments offers an outstanding opportunity to invest in an asset that has been newly renovated, as previous ownership has completed an impressive $1.2 million multifaceted renovation project. Incoming ownership can restructure utilities to earn an additional 4% boost to NOI.
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Anson Apartments
36 Units
604-612 Anson Street
Winston Salem, NC  27103
Type: Conventional
Closed: 5/19/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 22-acre, Reserve at Battery Creek Land site located in the rapidly-expanding Beaufort, SC. With the potential to build medium density residential in an unmatched location, future residents will consider this site as an opportunity to enjoy waterfront views of Battery Creek with dock access at a discount to home ownership. The Hilton Head-Bluffton-Beaufort market is seen as an attractive destination for residents fleeing larger U.S. cities with dense infrastructures, migrating towards coastal markets. These trends, which were only amplified by the pandemic, explain the market’s population surge of 58% since 2000, all while experiencing consistently strong rent growth. The property has a dock permit with a total of 192 feet of boat mooring length, making this the only multifamily site in Beaufort County that is approved for a boat dock on deep water. With site plans and permits approved, along with resubmission plans nearing the finish line, The Reserve at Battery Creek Land site offers developers a chance to takeover an opportunity with much of the heavy lifting out of the way.
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Reserve at Battery Creek Land
22 Acres
45 Belleview Bluff
Beaufort, SC  29902
Type: Land
Closed: 5/4/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the Mock Judson Mill, a Historic Rehabilitation project in Greensboro, NC. The building has been vacant since 1997 and was placed on the National Register of Historic Places in 2011. The proposed project will consist of 173 units with diverse floorplans, high end finishes, and a multitude of excellent community amenities. Mock Judson Mill is located in a top submarket projected to see 4.4% YoY rent growth through 2025. Furthermore, incoming ownership can capitalize on the North Carolina State Mill Rehabilitation Tax Credits which brings in state and municipal support to execute the project.
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Mock Judson Mill
173 Units
2610 Oakland Avenue
Greensboro, NC  27403
Closed: 4/20/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 292-unit The Park apartment community located in Columbia, SC. This asset is situated in the highly sought-after Dutch Fork submarket, characterized by its young and affluent demographic base with 62% white-collar employment, high renter occupied population (61%), exceptional projected rent growth of 20% through 2026, and a dwindling multifamily development pipeline. Built in 1975, The Park represents an outstanding opportunity for new ownership to implement a value-add 2.0 campaign to align the property with features that rival submarket competitors to achieve premiums up to $214.
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The Park
292 Units
1601 Longcreek Drive
Columbia, SC  29210
Type: Conventional
Closed: 2/24/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 200-unit North Oaks Landing apartment community located in Raleigh, NC. This asset is situated in the rapidly-expanding North Hills area, a submarket transitioning into a new employment hub as Advanced Auto Parts leads the way with a new HQ only a mile from the property. Outstanding demographic trends paired with a 22% home value growth over the past 12 months have brought national investor recognition to the area as urban development materializes. The community is primed for a market supported value-add initiative targeting unit interior upgrades, with potential to increase NOI by 32%. North Oaks Landing is a strong asset situated in a market with an advantageous rent forecast, low unemployment rate, wealthy workforce, and growing population.
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North Oaks Landing
200 Units
2038 Quail Forest Drive
Raleigh, NC  27609
Type: Conventional
Closed: 2/18/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 34-unit NOMA Flats apartment community located in Richland County, Columbia, South Carolina. This asset is situated in the rapidly expanding Elmwood Park neighborhood within the Central Columbia/University submarket. This historic community is known as “Columbia’s Front Porch”, characterized by strong projected rent growth (12.6%), steadily growing HHI (13.5%), and predominately white-collar employment (71%). Built in 1970, NOMA Flats represents an outstanding opportunity to invest in a vibrant and notable community. With 8 units fully renovated, new ownership is provided a value-add opportunity to upgrade the remaining 26 (75%) to the same finish level and commands average premiums of $155.
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NOMA Flats
34 Units
2637 River Drive
Columbia, SC  29201
Closed: 2/10/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 464-unit Pine Crest apartment community located in North Charleston, SC. The 42-acre site is strategically located near the eclectic neighborhood of Park Circle, offering varied dining and entertainment options, as well as the evolving Charleston Navy Base & Shipyard and easy access to I-26. As one of the few workforce housing assets in the Park Circle submarket, Pine Crest has ideal access to multiple large employers and variety among employment options. Built in 1945 and situated on 42 acres, Pine Crest offers an outstanding opportunity to invest in a value-add proposition that is strongly supported by large rent deltas with rent comparables in the market. In addition to the value-add opportunity, investors will be able to acquire 42 favorably-located acres in a dynamic and growing submarket, expected to only improve with the projected transformative construction and reuse projects planned and currently underway in the area.
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Pine Crest
464 Units
1920 McMillan Ave
North Charleston, SC  29405
Type: Conventional
Closed: 1/14/2022
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 204-unit, Hudson Montford apartment community, a one-of-a-kind, core plus asset immersed in the heart of in-town living. The asset is located in the epicenter of Montford Park, Charlotte’s next core micro market exploding with commercial development and characterized by an affluent resident base ($137,000 avg. HHI), skyrocketing home values ($514,000 MHV), and Charlotte’s premier employment hubs with 195,000 jobs within a 15-minute drive. Built in 1999, Hudson Montford recently received a $6.3M capital infusion - creating thoughtfully reimagined interiors and an upgraded amenity package to match. While these upgraded interiors already rival the submarket’s best, new ownership still has the opportunity to implement a niche, luxury finish package that would differentiate Hudson Montford as the submarket’s crown jewel asset. These exquisite upgrades coupled with an average floorplan size 200+ square feet larger than neighboring infill submarkets provide new ownership a unique opportunity to close the $200 rent gap to nearby competitors as well as the $425 rent gap to the neighboring submarket of South End.
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Hudson Montford
204 Units
1420 Estates Avenue
Charlotte, NC  28209
Type: Conventional
Closed: 12/30/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 312-unit, Latitude at West Ashley. The property, built in 1968 and 1973, is located in the heart of West Ashley, one of Charleston’s fastest growing submarkets, just minutes from Downtown Charleston and other major employment centers. Latitude at West Ashely is positioned off Sam Rittenberg Blvd and is set to continue pulling from a demographic defined by disposable income with white collar jobs. Current ownership has spent a significant amount of targeted capital infusion on the exterior and amenities, allowing the new buyer to focus on interior upgrades. Latitude at West Ashley offers new ownership the opportunity to complete and enhance the in-place value-add program to bridge the $360 avg rent gap from market competitors.
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Latitude at West Ashley
312 Units
1735 Ashley Hall Road
Charleston, SC  29407
Type: Conventional
Closed: 12/30/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the completely repositioned 97-unit Terrain at Haywood apartment community located in the bustling Greenville metro area. Terrain at Haywood is situated in a desirable pocket of Greenville characterized by its young, affluent and educated demographic base as avg. HHI’s are north of $83k with a 66% white collar population and 46% have obtained a bachelor’s degree or higher. Along with being located in the highly coveted Greenville County School District, the property is also surrounded by an abundance of high-end retail (Haywood Mall & Magnolia Point) and jobs, including 4 of Greenville County’s largest employers within a 5-mile radius. Built in 1983 and repositioned in 2018, Terrain at Haywood has undergone major renovations to both the interior and exterior ($2M+) as all units have been renovated with top-of market finishes and all common areas and amenity spaces have been thoughtfully curated and detailed with modern touches.
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Terrain at Haywood
97 Units
48 McPrice Court
Greenville, SC  29615
Type: Condo Conversion
Closed: 12/29/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Gates at Summerville, a 232-unit apartment community located in bustling Summerville, South Carolina. This asset sits immersed in one of the most desirable submarkets in Charleston. With 66% white collar population, an avg. HHI set to eclipse $105k in 2025, access to the #1 school district, and in close to proximity to major employment nodes, Gates at Summerville is primed to benefit from this windfall. Built in 1979, this property provides investors with the opportunity to acquire a well maintained asset primed for a strategic value add program. Through a $9,200/unit renovation focused on interior revitalization and the addition of washers/ dryers new ownership can command monthly rent premiums in excess of $280. This represents a 26% return on investment.
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Gates at Summerville
232 Units
1225 Boone Hill Road
Summerville, SC  29483
Type: Conventional
Closed: 12/23/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 76-unit Chapman Pointe apartment community located in Dallas, North Carolina (Gastonia). Built in 1999, the property is situated just north of the newly widened I-85, US-321 Interchange, and is poised to benefit from the rise in population anticipated from the infrastructure improvements. Gaston County has emerged as a location of choice for foreign investments in advanced manufacturing, serving as the key driver for some of the strongest rent gains in the metro. The growing demand of Gastonia paired with muted supply in 2020 poises the property for consistent returns and an opportunity to boost annual NOI by $160,000 through continuing the in-place value add program (14% renovated).
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Chapman Pointe
76 Units
500 Chapman Pointe Circle
Dallas, NC  28034
Closed: 12/22/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 110-unit Bellingham Park condominium community located in Wilmington, NC, the 3rd fastest growing city in the state. The offering is for 110 units out of the total 284-unit Bellingham Park community. Built in 2006/2012, Bellingham Park is a strong performing asset with excellent occupancy and rent growth trends. Wilmington is experiencing significant population growth due to in-migration accelerated by the pandemic, as remote workers love the affordable beach lifestyle and beautiful scenery that the North Carolina coast has to offer. Impressive leasing trends are expected to continue with Wilmington ranking top 20 city in the United States for in-bound population growth in 2020 contributing to the impressive 8.5% rent growth in the market over the past year. Incoming investors can capitalize on strong market fundamentals by completing the in-place value-add program that will generate $111K in annual revenue yielding a 14.5% boost to NOI.
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Bellingham Park
110 Units
1522 Cadfel Court
Wilmington, NC  28412
Type: Conventional
Closed: 12/21/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 144-unit, 1979-built Aven apartments in Durham, NC. The property is ideally located in the heart of the Research Triangle, home to over 300 companies employing more than 50,000 workers including 2 recent announcements of Google and Apple establishing offices in the area. Raleigh-Durham is 2021’s top market for Multi-family acquisition and Aven is primed to capitalize on impressive rent growth, superb demographics, robust economic activity, and seamless access to the area’s premier employment, retail, and dining destinations by way of Interstate-54, the Triangle Expressway, and Interstate 40. With little deferred maintenance and a proven interior renovation program, new ownership will be uniquely positioned to complete the in-place program generating $90-$160 premiums.
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Aven Apartments
144 Units
3207 Stonesthrow Lane
Durham, NC  27713
Type: Conventional
Closed: 12/20/2021