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The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 353-unit Peppertree apartment community located in North Charleston, South Carolina. The asset is situated off Dorchester Road in close proximity to the top employment drivers in North Charleston where large investments have continually been made to expand and strengthen the Charleston job market. Built in 1983/1989, Peppertree offers an outstanding opportunity to see a 25% Return on Investment by completing the in-place value-add program, with 83% of units left to renovate generating proven premiums of $160. Peppertree also offers potential investors attractive assumable in-place agency financing with a low interest rate.
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Sold
Peppertree
353 Units
4640 Forest Hills Drive
North Charleston, SC  29418
Type: Conventional
Closed: 10/20/2020
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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Sold
511 Queens
64 Units
511 Queens Road
Charlotte, NC  28207
Type: Conventional
Closed: 6/16/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 264-unit, Vantage at Wildewood apartment community. Delivered in 1998, Vantage at Wildewood is located in the heart of Richland County’s Northeastern path of growth. Residents enjoy seamless access to the premier retail and employment in an area defined by an exceptional demographic base, including an average HHI of over $94,000 within a three-mile radius. Bolstered by large floor plans, substantial interior renovations completed throughout 2012-2013, and outstanding amenities, the property is poised to bridge a significant rental delta in effective rents with market competitors through a market-supported Class-A renovation initiative to capture $150 premiums.
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Vantage at Wildewood
264 Units
811 Mallet Hill Road
Columbia, SC  29223
Type: Conventional
Closed: 3/31/2020
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of The Hollows, a 212-unit apartment community located in Columbia, SC. Embedded between Downtown Columbia and one of the largest retail corridors, Harbison Boulevard, The Hollows sits near the top employment centers in the area where multiple large investments have continually been made to expand and strengthen the Metro job market. With large forecasted rent growth, top submarket rankings in growth (5.10%) and concession values in the second quarter of 2019, The Hollows offers the chance to boost NOI by $123,000 with over 42% of unit interiors left to be renovated, bringing them in-line with fully renovated units that are averaging $50-$75 rent premiums.
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Sold
The Hollows
212 Units
1300 Longcreek Drive
Columbia, SC  29210
Type: Conventional
Closed: 3/6/2020
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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Sold
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 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 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 352-unit, Southern Pines apartment community in Spartanburg, SC. Delivered in 1976, Southern Pines is located along the commerce-rich Interstate 85 corridor and is the east anchor of the prolific Upstate region, globally recognized for its massive BMW plant (+8,000 employees) and burgeoning high-tech economy. Southern Pines lies in an area of East Spartanburg that supports over 10,500 jobs in a three mile radius and sits only three miles from the busy East Main Street commercial corridor (Publix, Fresh Market, Aldi). With most units already up fitted with light renovations, Southern Pines is ripe for an enhanced value-add program to realize tremendous growth in income.
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Southern Pines
352 Units
350 Bryant Road
Spartanburg, SC  29303
Type: Conventional
Closed: 6/27/2019
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 Southeast Multifamily Advisory Group is pleased to present the 378-unit, Waterside Greene apartment community. Delivered in two phases (2005/2015), Waterside Greene is located in the heart of Greenville’s "Industry Triangle" with five of the county’s largest employers (10,500+ jobs) located just minutes from the property. Residents of Waterside Greene enjoy seamless access to the premier retail in an area defined by an exceptional demographic base including an average HHI of over $74,000 within a one-mile radius. Bolstered by steady operations, the property is poised to bridge the $300+ delta in effective rents to market competitors through a multipronged value-add initiative.
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Sold
Waterside Greene
378 Units
741 Woodruff Road
Greenville, SC  29607
Type: Conventional
Closed: 6/6/2019