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The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 102-unit Chambers Ridge 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 - Raleigh, Durham, and Research Triangle Park. Chambers Ridge rents to a highly educated, affluent submarket with average household incomes of +$105K and 74% of renters holding a Bachelor’s Degree or higher within a 3 mile radius. With the largest supply wave already in the rear-view mirror, growing demand of Chapel Hill paired with Carrboro’s limited supply (only 94 units delivered since 1997) poises the property for consistent returns for years to come. Built in 1985, Chambers Ridge offers an outstanding opportunity to invest in a quality asset that has received over $500K in capital expenditures including high-end unit finishes primed for organic rent growth.
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Chambers Ridge
102 Units
201 Westbrook Drive
Carrboro, NC  27510
Type: Conventional
Closed: 6/11/2021
The Cushman & Wakefield Student Housing Capital Markets Team, in conjunction with the Sunbelt Multifamily Advisory Group, is pleased to present the exclusive listing of the 126-unit, 504-bed, Reign Living at the Stadium student housing apartment community, located in Columbia, South Carolina. This asset is situated in a highly desirable location, adjacent to the University of South Carolina's Williams-Brice football stadium, and includes a private student walkway with exclusive gate access to the stadium's entrance. The property completed construction in Fall 2020 and delivered at 99% occupancy and has since achieved 99% prelease for Fall 2021. Reign Living at the Stadium offers a Class "A" investment opportunity with the latest amenities in the thriving University of South Carolina market.
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Reign Living at the Stadium (need SP)
126 Units | 504 Beds
1105 Shop Road
Columbia, SC  29205
Closed: 5/21/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is excited to present the exclusive listing of Caroline, a 237-unit mixed-use apartment community located on Charleston, South Carolina’s peninsula. The property is strategically situated within the new 50-acre urban, waterfront district “WestEdge” masterplan, which has a projected impact of 4,280 new jobs and 2,500+ residents upon completion. Caroline has set the stage for growth by reaching stabilization while still having $700+ in rental headroom. Increased barriers to entry on the peninsula due to numerous municipal and design requirements will shield Caroline from new supply, as it benefits from being one of only two communities with unobstructed views of the Ashley River.
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Caroline
237 Units
99 Westedge Street
Charleston, SC  29403
Type: Conventional
Closed: 5/20/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 332-unit Village 1373 apartment community located in Greensboro, NC. This asset is firmly situated in a top performing submarket of the Triad with strong fundamentals and outstanding demographics, outpacing the broader metro on nearly all indicators. As submarket household incomes approach $90K+ paired with a muted delivery pipeline, the market indicates support for higher-end finishes as Greensboro shifts its focus to target a white-collar workforce through educational attainment. Built in 1987/1996, Village 1373 has received $1.6M in capital improvements since 2018 and offers new ownership the ability to complete a value-add program to generate an additional $368K in annual income and boost NOI by 26%.
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Village 1373
332 Units
1373 Lees Chapel Road
Greensboro, NC  27455
Type: Conventional
Closed: 5/11/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 259-unit Crest at Greylyn apartment community located in Charlotte, NC. This asset is situated in the highly desirable submarket of Matthews where a highly educated, affluent renter base has supported consistently strong rent growth over the past five years. A thinning development pipeline provides confidence these strong multifamily fundamentals will continue. An excellent location surrounded by retail and proximate to several major highways provides residents direct access to Charlotte’s largest employment hubs, including Uptown (135,000 daily employees), in less than 20 minutes. Built in 2013, Crest at Greylyn presents an unprecedented investment opportunity to inherit Class A construction and community amenities coupled with the potential for an interior renovation program that would achieve $150 premiums and ultimately increase NOI by 19%.
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Crest at Greylyn
259 Units
9415 Lucy Jane Lane
Charlotte, NC  28270
Type: Conventional
Closed: 5/7/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 448-unit Crest at Galleria apartment community located in Charlotte, North Carolina. This asset is situated in the highly desirable submarket of Matthews where a highly educated, affluent renter base has supported consistently strong rent growth over the past five years. A thinning development pipeline provides confidence these strong multifamily fundamentals will continue. An excellent location surrounded by retail and proximate to major highways provides residents access to Charlotte's largest employment hubs, including Uptown, in less than 20 minutes. Built in 2005, Crest at Galleria represents a unique opportunity to invest in an extremely well-located asset which offers modern construction as well as massive value-add upside that would generate a 28% increase over current NOI.
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The Crest at Galleria
48 Units
1815 Galleria Club Lane
Charlotte, NC  28270
Type: Conventional
Closed: 5/7/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 100-unit Olde Town at Bailey Court apartment community located in Anderson, SC. This asset is situated in a highly trafficked area in close proximity to the areas top employers, including AnMed Health, Anderson University, Electrolux, Techtronics, Bosch and many more. Given Anderson County’s lack of supply with only 109 units proposed delivery through 2022, submarket fundamentals are expected to well outperform the great MSA in both effective rent growth and occupancy levels. Residents of Olde Town at Bailey Court enjoy seamless access to the premier retail in an area, defined by an exceptional demographic base including average HHI of over $63,000 within a 3-mile radius. Bolstered by steady operations, the property is poised to bridge the $400+ delta in effective rents to market competitors through completion of the already proven interior value-add initiative.
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Olde Town at Bailey Court
100 Units
106 Concord Avenue
Anderson, SC  29621
Type: Conventional
Closed: 5/5/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Lively at Market Common, a 299-unit timeless community offering its residents best-in-class living space and amenities located in Myrtle Beach. As the newest community in Market Common, The Lively at Market Common is situated in one of the most sought-after locations, with immediate access to the Atlantic Ocean and Myrtle Beach’s most upper echelon lifestyle district. The property offers new ownership the opportunity to purchase a core asset well below replacement cost in a market with dwindling supply compared to a population surge rivaling other coastal cities. Along with outsized population growth comes a job market that is expected to outpace new deliveries by 26:1 in 2021 and 2022, priming the Myrtle Beach market for 10% rent growth through 2024. Myrtle Beach is also a post-pandemic destination, seen as an alternative living option for residents of large US cities with dense infrastructures. With these phenomenal fundamentals and an attractive average move-in rate, the property is poised to capitalize on a lengthy Class-A rent runway $125+ above current rents.
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The Lively at Market Common
299 Units
1231 Hadley Circle
Myrtle Beach, SC  29577
Closed: 4/30/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Pines of Wilmington, a 233-unit apartment community in Wilmington, NC. Bolstered by recent capital improvements and robust operational momentum, The Pines of Wilmington offers investors a potential 38% boost to annual NOI through completion of an underway, proven value-add program. The asset is firmly cemented in a strong apartment market that is primed to benefit from development expansion moving southward. Furthermore, The Pines of Wilmington is near the principal economic drivers and premier retail nodes of Wilmington – an MSA characterized by rapid population growth, an expanding employment nucleus, and attractive demographics.
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The Pines of Wilmington
233 Units
1002 Mayflower Drive
Wilmington, NC  28412
Type: Conventional
Closed: 3/11/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 236-unit Osprey Cove North apartment community located in Jacksonville, NC. The asset is strategically located two miles from Jacksonville’s 2nd largest employer, Air Station New River (18,100 jobs). The property has received a capital infusion of $1.17M over the past 3 years, prepping the community for a proven value-add initiative that could potentially boost the trailing 2-month NOI by 11%. With 28 new deliveries since 2014 and nearly zero deliveries projected through 2023, the lack of a development pipeline will continue to drive rent increases as Jacksonville’s low-risk, stable economy.
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Osprey Cove North
236 Units
118 Broadhusrt Rd
Jacksonville, NC  28540
Type: Conventional
Closed: 3/4/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 8.83 acre Southpark Boulevard Land site located in Winston-Salem, NC. As part of a Master Planned Community called Heritage Park, the land is approved for 172 apartments, is mass graded, has utilities located on site, and is currently listed at $950,000. The property is located in South Winston-Salem, the submarket leader in annual rent growth and occupancy in 2019. The property is situated along the Peters Creek Parkway Growth Corridor, a targeted initiative recently approved by the City Council, that has already seen momentum build indicated by rising property values. This site offers investors a unique opportunity to invest in a growing Winston-Salem market which boasts low unemployment, trivial delivery pipeline, and a majority white-collar workforce.
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Southpark Boulevard Land
8.83 Acres
0 Grand Silo Way
Winston-Salem, NC  27127
Type: Land
Closed: 3/1/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 66-unit 2200 Midtown apartment community located in Greensboro, NC. This asset is firmly situated in a top performing submarket of the Triad with strong fundamentals and outstanding demographics, outpacing the broader metro on nearly all indicators. Built in 1965, 2200 Midtown offers a 77% completed value add program that is commanding solid premiums of over units leasing with standard features. As submarket household incomes approach $90K+ paired with a muted delivery pipeline, the market indicates support for higher-end finishes as Greensboro shifts its focus to target a white-collar workforce through educational attainment. Investors have the opportunity to increase annual income by $48K by pushing rents to achieve market supported premiums in a top Triad submarket for rent growth.
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2200 Midtown
66 Units
2200 Cornwallis Drive, West
Greensboro, NC  27408
Type: Conventional
Closed: 2/23/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of The Park at Village Oaks, 124-unit apartment community located in growing Leland, NC. Built in 2007, this property has carried out an extensive interior upgrade initiative, providing investors with a quality, competitive asset at a discount to replacement cost. With the heavy lifting out of the way, investors will have the opportunity to shift their focus to implement additional revenue streams, offering a potential 9% boost to annual NOI. Located only 4 miles from a booming downtown Wilmington, The Park at Village Oaks is perfectly situated to experience all Wilmington has to offer. In addition to the locational benefits of the Wilmington MSA, the site is in the heart of Leland’s Gateway District – an area the town has prioritized for immediate infill redevelopment.
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The Park at Village Oaks
124 Units
136 Parsley Lane
Leland, NC  28451
Closed: 2/23/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 224-unit Gleneagle apartment community located in Columbia, SC. This asset is situated in the capital city of South Carolina boasting strong submarket fundamentals including 15% projected rent growth and 13% average household income growth through 2025. Having changed between multiple management companies, current management operations are sound and trending in the right direction. Built in 1973, Gleneagle represents an outstanding opportunity to invest in a property that comes to market with a proven value-add plan set in-place by current ownership leaving 164 units (73%) to be renovated and command premiums of $125.
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Gleneagle
216 Units
601 St. Andrews Road
Columbia, SC  29210
Type: Conventional
Closed: 2/1/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 112-unit Bellevue Mill Apartments located in Hillsborough, NC. The asset offers a unique opportunity to acquire the Managing Membership interest in a recently restored cotton mill apartment community completed through Historic Tax Credits. Listed on the National Register of Historic Places, Bellevue Mill is strategically located in a highly educated and high income market within the Triangle MSA. With $18.5M completed in construction and renovation costs, new ownership will be able to capitalize on a solid foundation established through a successful lease up in a supply constrained market with high barriers to entry. With an exceptional location and positive supply-demand dynamics in the Hillsborough/Chapel Hill multifamily market, Bellevue Mill is an attractive investment opportunity that will continue to enjoy organic rent growth as market fundamentals normalize.
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Bellevue Mill
112 Units
206 South Nash Street
Hillsborough, NC  27278
Type: Conventional
Closed: 1/15/2021
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of Sterling Magnolia, an irreplaceable core-plus value-add opportunity located in the exclusive submarket of Myers Park. The immediate area is defined by blue-chip demographics ($146,000 Average Household Income), luxurious homes ($536,000 Median Home Value) and proximity to Charlotte’s premier employment hubs, Uptown and Southpark, offering 150K jobs within a 10-minute drive of the property. The 174-unit, 2004-built asset features both garden and urban attributes, condo sized floorplans (1,121 average SF) and is situated in a submarket composed of Charlotte’s most affluent residents, offering investors a unique framework to complete a high-end value-add and close the $0.33 PSF rent delta to submarket competitors.
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Sterling Magnolia
174 Units
3720 Wendwood Lane
Charlotte, NC  28211
Type: Conventional
Closed: 12/29/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the East Charlotte 728 Portfolio consisting of Delta Crossing, The Avalon, and The Kelston apartment communities. The assets are situated adjacent to the 78-acre mixed-use Eastland Mall redevelopment, which is anchored by the Headquarters of Charlotte’s new Major League Soccer team. Convenient location to a desirable thoroughfare provides access to 250,000 jobs within a 15-minute drive, as well as the most popular entertainment hubs throughout the city. Strong demographic trends show a 14% increase to average household incomes over the next 5 years that will support continued rent growth. The East Charlotte 728 Portfolio represents an outstanding opportunity to realize rental premiums of up to $200 which nearby competitive properties are currently achieving in this rapidly transforming submarket.
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The Avalon
240 Units
6000 Regal Estates Drive
Charlotte, NC  28212
Type: Conventional
Closed: 12/23/2020
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 344-unit Harbor Pointe apartment community located Mount Pleasant, South Carolina. This generationally located asset is situated in the highly sought-after Charleston submarket of Mount Pleasant offering direct access to downtown Charleston, walkability to a plethora of retail, dining, and entertainment options, as well as access to the major economic drivers of Charleston. Built in 1987, Harbor Pointe offers an incredible opportunity to infuse the 32-acre property with capital to push rents over $300 and establish market presence in a top southeast location presenting high barriers to entry and untapped future potential.
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Harbor Pointe
344 Units
331 Harbor Pointe Drive
Mt. Pleasant, SC  29464
Type: Conventional
Closed: 12/18/2020