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The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of 1420 Magnolia – an irreplaceable core-plus value-add opportunity immersed in the heart of in-town living. The 204-unit, 1999-built asset is positioned in the epicenter of Montford Park, Charlotte’s next core micro market exploding with new commercial development and characterized by blue chip demographics ($102,439 avg. HHI’s), high-end homes ($403,700 MHV) and Charlotte’s premier employment hubs with 190,000+ jobs within a 15-minute drive. Featuring both garden and urban attributes, the asset offers a truly unique framework primed for immediate value-add in an area that’s witnessed $300 value-add premiums.
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1420 Magnolia
204 Units
1420 Estates Avenue
Charlotte, NC  28209
Type: Conventional
Closed: 5/24/2018
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 pleased to present the 207-unit, 1800 Ashley West. The property, built in 1980, is located in the heart of West Ashley, one of Charleston’s fastest growing submarkets, just minutes from Downtown Charleston as well as other major employment centers including Boeing (8,200 jobs), Joint Base Charleston (36,000 jobs), the new Mercedes-Benz plant (1,300 jobs) and Volvo plant (2,000 jobs). The recent adoption of “Plan West Ashley”, a master plan intended to spur economic development in the area through public-private partnership, will serve as a catalyst for growth in the submarket. 1800 Ashley West, offers new ownership to have the opportunity to complete the in-place value-add programs to further boost NOI across the property by over $653k.
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1800 Ashley West
207 Units
1800 William Kennerty Drive
West Ashley, SC  29407
Type: Conventional
Closed: 6/20/2019
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of 511 Queens, a 64-unit boutique apartment community located in Charlotte’s affluent submarket of Myers Park. The walkable neighborhood is defined by upscale retail, trendy restaurants, and is one of the most sought-after residential submarkets in the Southeast. Myers Park is nestled between Uptown, the vibrant downtown employment district offering 116,000+ jobs, and SouthPark, a premier infill live-work-play destination. It is also moments from the city’s largest hospitals of Novant and Atrium, creating 32,000+ total jobs. Propelled by luxurious best-in-class features and a distinguished presence along Queens Road, 511 Queens arrives nearing stabilization after a rapid lease-up with strong in-place rents. With stabilization imminent, investors are ideally positioned to realize embedded rent growth driven by the continuation of proven lease-up concession burn off, attractive fundamentals highlighted by blue-chip renter profiles, and catalyzing new development surrounding Myers Park, positioning 511 Queens as Charlotte’s premier boutique asset.
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511 Queens
64 Units
511 Queens Road
Charlotte, NC  28207
Type: Conventional
Closed: 6/16/2020
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 144-unit, 86 North apartment community located in Chapel Hill, NC. Built in 1985, the property offers an outstanding opportunity to invest in a solid performing asset within the economic powerhouse of the Triangle MSA, strategically located in a highly educated, affluent submarket with an average HHI of +$112,000 in a 1-mile radius. Average rents at 86 North are approximately $480 lower than its immediate Class A competition and trails submarket comparable properties by $170, providing incoming ownership with a market-driven, value-add landscape to bring competitive rents to the market while capturing half of the rent ceiling. In addition, current ownership has paved the path to a feasible value-add program by renovating 4 trial units which are already receiving $145 premiums over standard units.
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86 North
144 Units
200 Westminster Drive
Chapel Hill, NC  27514
Type: Conventional
Closed: 7/31/2019
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 360-unit, Abbington Place apartment community located in Greensboro, North Carolina. Built in 2 phases (1995/1997), the low-density property received a recent capital investment of $3.86M that included new roofs, community amenity and parking lot enhancements, structural repairs, and interior upgrades to 65% of units. The demographics of the 1-mile radius surrounding Abbington Place outperform the broader market on nearly all fronts, with a 72% white collar workforce, 1.9% unemployment rate, and 50% of the population possessing higher education degrees. As the Greensboro-High Point MSA pipeline remains steady, the submarket will see a pause in development, having absorbed a recent surge in supply with ease. This strong market indicates the potential to take current, mid-tier renovations a step further at the property with the opportunity to boost annual NOI by 41% through a multi-faceted value-add 2.0 program.
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Abbington Place
360 Units
1521 Bridford Parkway
Greensboro, NC  27407
Type: Conventional
Closed: 4/14/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 264-unit, Abbotts Run apartment community located in Wilmington, North Carolina. This asset is positioned in a highly-educated, affluent demographic region between UNCWilmington, The Port of Wilmington, and Wilmington International Airport with immediate access to the Coastal City’s major roadways. Delivered in 2002, Abbotts Run recently received a $3.5 million capital infusion which included common area renovations, a state-of-the-art clubhouse, and unit interior upgrades. Since completion in April 2016, this targeted initiative has proven to see a 38% increase in rental rates. Despite this impressive growth, the market indicates there is an opportunity for a value add 2.0 program as average rental rates trail comparable properties by $280, resulting in a potential to boost annual NOI by 14%.
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Abbotts Run
264 Units
511 Cobblestone Drive
Wilmington, NC  28405
Type: Conventional
Closed: 2/20/2020
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of The Tremont - a 224-unit apartment community in the thriving Columbia, SC MSA. Built in 2016 and boasting top-of-market features and amenities, The Tremont is Urban Columbia’s premier upscale multifamily property. The asset is in close proximity to the area’s foremost employment centers as residents enjoy walking distance to University of South Carolina and Downtown Columbia, in addition to private access to the nearly 8-mile-long Cayce Riverwalk. The Tremont’s strong operations and above-market average occupancy in the trailing year (97%) provide the ideal launch-pad for organic rent growth as the property captures the current rent ceiling of $200+ provided by downtown. Minimal new supply that will compete with The Tremont coupled with the Cayce submarket's projection for the metro's highest rent growth through 2022 offer protection for the asset's long-term growth potential.
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Advenir at One Eleven
224 Units
111 Knox Abbott Drive
Cayce, SC  29033
Type: Conventional
Closed: 1/23/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present Arbor Creek, a 280-unit, 1969-built garden apartment community located in Raleigh, NC. Conveniently situated in the Cary submarket of the explosive Raleigh-Durham MSA, Arbor Creek provides tenants with close proximity to the area’s premier retail destinations and economic drivers, and a highly sought after school system. Additionally, the submarket’s projected rent growth and occupancy rates of 13% and 97%, respectively, will complement property performance for years to come. With over $3 million in CapEx recently completed, Arbor Creek is a low-maintenance, clean asset with two different levels of proven value-add that have potential to increase annual NOI up to 15% upon completion.
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Arbor Creek
280 Units
5400 Portree Place
Raleigh, NC  27606
Type: Conventional
Closed: 12/15/2017
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the 312-unit, Ashley Grove. 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 as well as other major employment centers including Boeing (8,200 jobs), Joint Base Charleston (36,000 jobs), the new Mercedes-Benz plant (1,300 jobs) and Volvo plant (2,000 jobs). The recent adoption of "Plan West Ashley", a master plan intended to spur economic development in the area through public-private partnership, will serve as a catalyst for growth in the submarket. Ashley Grove, offers new ownership to have the opportunity to complete the in-place value-add programs to further boost NOI across the property
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Ashley Grove
312 Units
1735 Ashley Hall Road
Charleston, SC  29407
Type: Conventional
Closed: 11/30/2018
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 the 97-unit Beaucatcher Flats apartment community located in the white hot market of Asheville, NC. Serving as Urban Asheville’s premier upscale multifamily community, Beaucatcher Flats is located less than one mile from Downtown Asheville, and within walking distance to Western Carolina’s largest employer, Mission Health (12,000 total employees). The property is also situated at one of Asheville’s highest elevation points providing picturesque mountain views. Nearing completion of the initial lease-up, Beaucatcher Flats will deliver concession-free with the ability to push rents on 2nd generation leases and grow ancillary income from multiple sources.
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Beaucatcher Flats
97 Units
128 Florence Street
Asheville, NC  28801
Closed: 9/21/2018

Offers due by Thursday, August 18, 2016

Property Tours:
  • Tuesday, July 19, 2016
  • Tuesday, July 26, 2016
  • Tuesday, August 2, 2016
  • Tuesday, August 9, 2016
  • Tuesday, August 16. 2016

Please contact one of the brokers listed on this page to discuss or schedule a tour.

Cushman & Wakefield is pleased to present the exclusive listing of the 356-unit Brandemere apartments in Winston-Salem, North Carolina, which is part of the prolific Greensboro/Winston-Salem/High Point “Triad” region. Strategically situated just north of Wake Forest University, Brandemere offers direct connectivity to major employment centers that include Hanesbrands, Inc., Wake Forest University, and the Wake Forest Innovation Quarter. Completed in three phases between 1984 & 2009, Brandemere offers prime investment potential for a revenue-producing value-add program.

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Brandemere
356 Units
7013 Brandemere Lane
Winston-Salem, NC  27106
Type: Conventional
Closed: 1/27/2017
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 80-unit Briarcliff apartment community located in Wilson, NC. This asset is situated within close proximity to the area’s premier retail and employment and is also strategically located near the intersection of I-95 and I-795, providing ease of access to both Raleigh and Wilmington. In addition to the location advantages, the submarket has seen a phenomenal 6% year-over-year rent growth since 2016. This growth is a result of an increasingly affluent renter base who are projected to see a 10% increase to HHI income over the next 5 years, while unemployment levels dwindle to 3.8%. Built in 1966, Briarcliff represents the opportunity to investment in an asset that has recently received a large-scale exterior renovation and is primed to see a 50% increase to NOI through a multipronged value-add program.
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Briarcliff
80 Units
400 Crestview Ave SW
Wilson, NC  27893
Closed: 4/23/2020