Past Sales

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 168-unit Overlook at Indian Trail apartment community located in Kingsport, Sullivan County, Tennessee. This asset is situated in the rapidly-expanding, tri-cities market of Tennessee. Built in 2017/2023, Overlook at Indian Trail offers an outstanding opportunity to invest in a recently built asset within an undersupplied market, with less than 1,000 units delivered to the area since 2010. This asset has the ability to garner $175+ premiums through a value-add program and burning off loss-to-lease. Residents at the property benefit from being within minutes of top employers (Eastman Chemical, Kingsport City School System, and Welmont Health System) and just moments from big box retailers such as Walmart and Lowe’s.

OM AVAILABLE SOON

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Florence, an 11-acre, 262-unit development opportunity in McKinney, Texas. The fully entitled, shovel-ready site is a part of a mixed-use development that will offer 62,000 sq. ft. of office and retail space, and a 10,000 sq. ft. daycare facility. This asset is strategically located to maximize future growth in one of the fastest growing cities in the U.S. The Florence Apartments is a unique investment opportunity in an exciting submarket with strong fundamentals including average occupancy of 95.4% and annual rent growth of 13.3%.

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 20.42-acre Parkside Multifamily Development Site in Port Wentworth, GA. Zoned and entitled by-right for multifamily, current plans call for 235 multifamily apartment units to be built on the site. Building permits are already in hand for the site, which will be just down the road from Port Wentworth’s new $30 million, 150-acre Recreation Park. The site is less than 2.5 miles from a Publix. It is also notably 4 miles from Georgia Tech Savannah and 7.5 miles from the Savannah/Hilton Head International Airport. Port Wentworth, nicknamed Savannah’s Front Porch, has witnessed an explosion in population, more than doubling in size between the last two US Censuses. The city has benefited from Savannah’s port and industrial expansion and boasts a strong job market. Chatham County’s Class A multifamily market has surged, and average rents are expected to exceed $2,000 in 2023. The Parkside Multifamily Development Site presents an enticing, shovel-ready opportunity to break into a booming multifamily market with scale.

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Kipling, a 118-unit Built-To-Rent (BTR) community located in Baldwin County (Foley), AL. Kipling arrives to market as one of the region’s premier single family, detached BTR communities in Baldwin County. The asset is located in the rapidly expanding Foley submarket, recently ranked the highest-growth pocket in Baldwin County. With pristine beaches less than 12 minutes away ($5B+ economic impact) and retail-attractions within a short drive, Kipling offers residents a desirable, single-family suburban lifestyle.

Fully delivered in 2023, the community features a desirable unit mix of 3-5 BR detached homes averaging 1,777 SF, attached garages, private fenced yards & top-of-the-line technology packages. Lease-up performance is strong as average loss-to-lease is less than 1%. Submarket rent growth has averaged 5%+ annually since 2017 while occupancy remains at 95%. Kipling offers new ownership an outstanding opportunity to acquire a sizeable BTR asset in AL’s fastest growing county.

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Remington Ridge, a 133-unit, 2022-built apartment community located in the thriving Fort Worth suburb of Weatherford. Remington Ridge offers prospective buyers an exceptional opportunity to acquire a newly constructed asset in a rapidly growing suburb of the fastest-growing city in America. Situated seconds from I-20, tenants possess immediate access to Weatherford’s premier retail corridor, quality education centers, and convenient access to Fort Worth and Arlington’s diverse roster of major job hubs. The opportunity is further bolstered by a clear path to additional income provided by the ability to push second-generation leases, development of Phase II, additional Phase I investment, capture of water/sewer reimbursements, and placement of a consistent management team on site.

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 6.68-acre, The Grove at Orange Beach development opportunity located in Orange Beach, Alabama. This asset is situated in a PUD zoning district within the fastest growing county in Alabama, offering developers a favorable density of 42 units per acre. A highly sought-after school system paired with an upward trending demographic base is steadily increasing the demand for Class A product, as rent levels have increased 33% over the past 5 years and expect to average another 8% increase each year over the next two years. This site offers deeded beach access, providing a competitive advantage over future multifamily projects. The Grove at Orange Beach offers the future developer the opportunity to build the first high-end, large-scale apartment community along Perdido Beach Boulevard and the site is poised to reward developers as vacancies trend downward and rent growth surges during the massive migration to coastal cities.

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Duke apartment community, comprised of 252 units and nestled in the vibrant city of Victoria, TX. This exceptional property presents a highly appealing investment opportunity, boasting assumable debt with an attractive interest rate of 3.5%. Ideally situated in a sought-after Victoria location, The Duke enjoys proximity to prominent retailers and employers, further enhancing its appeal. Moreover, this modern community sets itself apart with the finest unit and community amenities available in the area. Constructed in 2016, The Duke represents a prime chance to invest in a premier asset supported by exceptionally favorable assumable debt terms.

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 184-unit The Preserve apartment community in Branson, MO. Branson is located 40 minutes from Springfield hosting 9M tourists annually and crested 10M for the first time in 2021 demonstrating its resiliency as an entertainment destination. Arriving to market with a 98% average T12 occupancy and a fixed all-in 2.65% Interest Rate until 2061, The Preserve is an opportunity to capitalize on in-place trends and increase rents to market via unit interior renovations + recognize LTL created from recent market rent increases.

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Marbella, a 96-unit, 2021-built apartment community located in the highly sought after and rapidly growing Baldwin County. Marbella offers residents a beach-style living experience with close proximity to all of Gulf Shores’ lifestyle Amenities. The area is home to some of the nicest beaches in the U.S. which continue to drive strong population and rent growth (8.9% YoY since 2021). Since the beginning of 2022, Marbella has organically pushed rents 15.5%+ on renewals and new leases and arrives to market 95.8% occupied. The Baldwin County market has benefitted tremendously due to the lack of new competitive supply with no units being built between 2009 and 2019. In addition, Baldwin County is the 4th fastest growing small metropolitan area in the U.S. with the Gulf Shores area growing by 73% since 2010 providing further growth for assets such as Marbella. Built in 2021, Marbella represents an outstanding opportunity to invest in a high performing asset with attractive assumable HUD loan in the highly sought after and rapidly growing Baldwin County.

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Center Pointe Village, a 33-unit townhome community located in Clarksville, Montgomery County, Tennessee. Home to the 2nd largest military base in the U.S., the booming Clarksville market also benefits from being a close outlet to Nashville. Newly built in 2023, Center Pointe Village offers an outstanding asset consisting of well-thought-out townhomes with large floor plans and high-end features. The community is also moments from top employers, the Wilma Rudolph shopping corridor, Austin Peay State University, and Fort Campbell.

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Views at West Town, a 194-unit apartment community located in Knoxville, Knox County, Tennessee. Views at West Town is situated in a highly accessible location just north of Interstate 40, in a sophisticated West Knoxville submarket. Built in 1981 and renovated in 2023, Views at West Town offers an outstanding value-add opportunity achieving $225+ rent premiums. Residents of Views at West Town have direct access to major area employers (U.S. Department of Energy at Oak Ridge, Denso Manufacturing, and the Pilot Company) and many big box retailers including Sam's, Walmart, Target, Trader Joe's and the West Town Mall (Dick's, Chick-fil-A, H&M).

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 192-unit Latitude at Richmond Hill apartment community located in Richmond Hill, Bryan County, Georgia. This asset is situated in the desirable Richmond Hill submarket of south Savannah, sporting strong demographics, top schools, and explosive job growth. Built in three phases (2007, 2015 and 2019), Latitude at Richmond Hill represents an outstanding opportunity to invest in a property that consists of 100% classic units and can achieve $195+ rent premiums through a moderate value-add program. The property has seen $1.1M+ spent on capital expenditures including new signage and rebranding, landscaping, and major amenity enhancements. Recent Savannah job announcements are headlined by 17.5K+ new jobs, with 12.5K to be located in Bryan County. This includes the Hyundai EV Plant (8,500 jobs) and Hyundai Mobis (1,500 jobs) - part of the largest economic development project in Georgia history.

Luxury Property in Dynamic Walkable Location

AYR is an exquisite property built in 2020, boasting modern and inviting finishes that appeal to high-income residents seeking a luxurious lifestyle. Its prime location offers a walkable experience, with convenient proximity to retail establishments.

Access Broad Ripple, Keystone & Downtown 

AYR's exceptional location places it just a mile from the bustling center of Broad Ripple, ensuring residents can effortlessly immerse themselves in the vibrant entertainment, dining, and cultural offerings. Additionally, its strategic positioning provides quick access to both Downtown Indy and the upscale Keystone area, granting residents the opportunity to conveniently reach top employment centers as well as indulge in the city's premier shopping and dining destinations.

High-End Amenities & Finishes

The property provides an elevated living experience with luxurious finishes featured in the units, along with a range of high-end amenities. Residents can enjoy the convenience of unique Live Work Units, an expansive fitness center, co-working stations provide a productive and collaborative environment. Additionally, the Aqua Lounge offers a stylish and relaxing space for residents to unwind and socialize.

Proven Demand and Rent Growth

AYR experiences consistently high occupancy rates in the mid-90s, reflecting the strong demand for residents to live in the community. Furthermore, the property achieved rent increases ranging from 12% to 13% for both lease renewals and new leases, indicating the desirability of AYR as a sought-after living destination.

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Trails at Alabaster, a 200-unit apartment community located in the Alabaster municipality of Birmingham, AL. The asset is extremely well-positioned along the I-65 corridor in a supply-constrained submarket (less than 650 units delivered to the area since 2000) where rents are growing exponentially due to the lack of inventory. Trails at Alabaster offers an outstanding location for residents as it is minutes from 10,000+ quality jobs, state-ranked schools, and Class A retail space. The property is coming off an $1mm+ exterior renovation making the buyer the beneficiary of a quality physical plant and refreshed property look. Built in 1977/1986, Trails at Alabaster offers an opportunity to invest in a quality asset with excellent performance trends and additional upside remaining for new ownership.

2007-BUILT <$170K/UNIT | 4.3% FIXED RATE ASSUMABLE LOAN

Summit Pointe presents the opportunity to acquire an exceptional 2007-built property at an attractive basis of less than $170K per unit within an affluent, high-growth immediate area. The appealing existing loan can be assumed at a low 4.3% fixed interest rate with the interest only period still remaining and the potential for a supplemental loan for a blended rate of 5.02%.

IDEAL OPPORTUNITY TO GROW REVENUE

By upgrading 234 units to a luxury-grade finish level and introducing popular amenities, Summit Pointe’s position among its competition could be elevated to top-of-the-market. Doing so could increase market rents by $211/unit, on average, equating to over $648,000 in additional annual income. Additionally, R&M expenses could be lowered by purchasing washer/dryer machines the property is currently leasing.

EXCEPTIONAL FINANCIAL PERFORMANCE

Investors have the opportunity to inherit impressive operations, including historically strong occupancy and 5.6%+ lease tradeout over the last three months. Additionally, total revenue growth was 10.7% for 2022.

DISTINCTIVE PROPERTY WITH POPULAR UNIT FEATURES

This low-density property offers lush landscaping, two large scenic lakes, attractive exterior architecture and all exterior private entries. The meticulously designed units offer spacious floor plans, full size washer/dryer connections, plenty of storage space, 9’ ceilings, elegant crown molding in living rooms, six-panel doors, and the added bonus of both front and back balconies or patios in most units.

FLOURISHING GREENWOOD: FAST-GROWING & AFFLUENT

The property is within the city of Greenwood (Johnson County—4th fastest growing in the state), a sought-after affluent south suburb of Indianapolis with a wealth of employment options. Summit Pointe’s immediate area enjoys impressive demographics such as 65% population growth and an average household income of $111K. Greenwood is known for well-performing schools and is proximate to downtown Indianapolis, offering additional employment and top-notch amenities.

Top-tier Design

Provenance is a meticulously designed community that boasts high-end finishes and luxurious touches throughout. The development, which is part of a larger project that includes for-sale single-family homes, townhomes, and retail space, is widely regarded as the best product in the market. It was developed by the reputable Old Town Companies, who is known for delivering transformational projects.

Exceptional Property Performance

The property's outstanding performance is evident in the substantial growth of average lease rents, which have surged by an impressive 19.77% when comparing the average T-12 rent to the current in-place lease rent. Furthermore, the remarkable 98% current occupancy rate underscores the strong demand for this exceptional product.

Exquisitely Planned Live-Work-Play District

Provenance is situated in the Discovery Park District, a mixed-use development spanning 400 acres adjacent to Purdue University's West Lafayette campus. The district features academic research labs, manufacturing facilities providing high-paying jobs, and various housing options.

Purdue University Growth & Excellence

Since 2014, Purdue’s annual applications to the university are up 48%. Purdue now ranks as one of the nation’s top U.S. public institutions as well as one of its most innovative.

Impressive Multifaceted Growth Location

Greater Lafayette shows strong 6.2% rent growth and 94% occupancy with limited new construction. The area offers a vibrant community with a variety of cultural and recreational activities. In addition to being a college town, Greater Lafayette attracts diverse businesses and startups, creating employment opportunities and contributing to the region's economic growth.

7.2% TAX-ADJUSTED TRAILING CAP RATE

The Apex presents a fantastic opportunity to purchase a meticulously renovated property offered with strong yield at high tax-adjusted cap rates of 7.2% on trailing 3 months and an achievable 7.7% in year one. The property’s performance has been outstanding, maintaining an average occupancy rate of 96% over the past year.

TRANSFORMATIONAL RENOVATION COMPLETED

The property has undergone a complete transformation, with substantial enhancements to its mechanical systems and upgraded community amenities. Additionally, all units have been fully upgraded. Despite being built in 1970, The Apex has been repositioned and rebranded to give it a modern appearance and appeal, making it the premier property in its submarket. A new owner can easily concentrate on increasing rents during turnover or lease renewal and reducing the loss to lease.

CONVENIENT TO INTERSTATES, EMPLOYMENT & AMENITIES

Within a 15-minute drive, residents can easily access the bustling downtown area, a wide range of employment opportunities, a variety of amenities, and top-notch healthcare facilities. This prime location ensures that residents of The Apex have easy access to all the essentials and attractions Cincinnati has to offer.

TWO-PROPERTY CINCINNATI PORTFOLIO OPPORTUNITY

The Apex (317 units) can be purchased alone, or together with The Parkton (352 units), located just 15 minutes north. Together, the two properties total 669 units, offering the opportunity for scale in Cincinnati.

7% TAX-ADJUSTED TRAILING CAP RATE

The Parkton offers an excellent opportunity to acquire a well-built property that recently underwent an extensive renovation. Offered with strong yield at high tax-adjusted cap rates of 7% on trailing 3 months and an achievable 7.4% in year one. Property performance is strong, operating at a consistently high occupancy of 94%, on average, over the past 12 months.

TRANSFORMATIONAL RENOVATION COMPLETED: $54K/UNIT - $18.8M TOTAL SPENT

The property has been fully transformed with significant mechanical improvements, new and improved community amenities, and 100% of the units have been upgraded. Built in 1970, The Parkton has the look and feel of a newer property, and was repositioned and re-branded to make it the top property in the submarket. A new owner can simply focus on increasing rents upon turnover or renewal, and burn off loss to lease.

PROXIMATE TO INTERSTATES, LARGEST MSA EMPLOYMENT HUB & POPULAR AMENITIES

Located less than one mile from I-275, The Parkton has excellent access to all of Cincinnati and also Dayton via I-75. The city’s largest logistics hub (122M SF) housing numerous employers, popular amenities and the Mercy Health Fairfield Hospital are all less than 10 minutes from the property.

TWO-PROPERTY CINCINNATI PORTFOLIO OPPORTUNITY

The Parkton (352 units) can be purchased alone, or together with The Apex (317 units), located just 15 minutes south. Together, the two properties total 669 units, offering the opportunity for scale in Cincinnati.

1. CREDITS, INCENTIVES AND ABATEMENTS
The property’s inclusion on the National Register of Historical Places provides an opportunity for an adaptive reuse investor to seek tax credits, in addition to other available programs and abatements. The owner can apply for a variety of incentive programs,

2. ICONIC CBD PROPERTY
On the National Register of Historic Places since 1986, 19 Garfield Place was designed by Tietig and Lee and constructed in 1923. Terracotta tiles cover the eightstory façade with elements of metal and marble. The building has earned ENERGY STAR certification for the last seven years

3. URBAN OASIS
With Piatt Park, the oldest park in Cincinnati, at the front door of 19 Garfield Place and stretching two blocks from Vine Street to Elm Street, tenants and guests alike can take advantage of its shaded beauty. Immediately to the Northeast, the recently revitalized Court Street Plaza, a $5.5 million project, is not only a great public gathering space featuring wide, pedestrian-friendly sidewalks and community artwork, it’s also situated at the center of many unique small businesses.

4. DOMINANT OHIO MSA
At more than 2.2 million residents, the Greater Cincinnati MSA, comprised of 16 counties in three states, is the largest within the State of Ohio and the 30th largest in the United States. Five Fortune 500 companies are headquartered in the Greater Cincinnati MSA including 4 located in the CBD.

5. WALKABLE AND TRANSIT-ORIENTED LOCATION 19 Garfield Place is located within a block and a half of the Seventh & Walnut stop for The Connector, a 3.6-mile streetcar line operating throughout the city’s urban core and connecting The Banks with Over-the-Rhine. Cincinnati is also one of the most walkable downtown areas in the country with a walkability index of 18.6 out of 20 and a walk-score of 95%. Whether it’s the gentrified old-world charm of the Over-the-Rhine neighborhood a few blocks to the north or the more modern amenities located within the CBD and at The Banks to the south, 19 Garfield Place is a short walk or streetcar ride to both of Downtown’s vibrant social scenes.

6. STRONG MARKET FUNDAMENTALS FOR NEW MULTI-FAMILY CONSTRUCTION
New Class-A multi-family product in the downtown Cincinnati market has recently outperformed the rest of the Cincinnati MSA. Pairing an average of 95% occupancy with an impressive $2.26/SF, these fundamentals present an exciting opportunity to redevelop 19 Garfield Place into apartments.

7. OUTSTANDING RENT GROWTH IN DOWNTOWN MARKET In the Cincinnati downtown market, rent growth for Class-A properties in the last 5 years has been over 13%. The remaining downtown properties experienced rent growth around 8% in that same time period. The average asking rent for Class A properties downtown is $2,102/month.

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 247-unit Soncel at the Lakes apartment community located in Kingsland, Camden County, Georgia. This asset is situated in the strategically-located I-95 corridor, within driving distance of the ports of Brunswick, Jacksonville, and Savannah as well as having rail access throughout the County. Built in 1990 through 2018, Soncel at the Lakes represents an outstanding opportunity to invest in a proven value-add property seeing $200+ rent premiums with the ability to usher in an additional ~$400 premiums by bringing renovations up to market comparables. Residents of Soncel at the Lakes benefit from close proximity to one of the area's major employers (SE Georgia Health Systems - Camden Campus, 2,200 jobs), top Camden County schools, and ease of travel to Jacksonville, Florida's robust job economy (830K workforce pool).

The Cushman & Wakefield Midwest Multifamily Advisory Group is pleased to present the exclusive listing of the 240-unit Knollwood Crossing Phase I apartment community located in Hamilton, Ohio (Cincinnati MSA). This asset is situated close to key employment areas and prominent retailers. Built between 2000-2001, Knollwood Crossing Phase I offers an outstanding opportunity with substantial value-add and optional seller financing. There is a tremendous opportunity to transition the AMI restricted units to 100% market rate. Presently owned by a non-profit entity, 180 of the 240 units are subject to 60% or 80% AMI restrictions. Upon the sale to a for-profit entity, these restrictions would be lifted (existing leases must be upheld).

Adjacent Property Also Available For Sale (Same Owner) The Heights at Knollwood Crossing 192 Units