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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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Under LOI
86 North
144 Units
200 Westminster Drive
Chapel Hill, NC  27514
Type: Conventional
Posted: 2/7/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present Briarwood, a 274-unit 1970 (renovated in 1996)-built apartment community in Fayetteville, NC. The property has two entrances on Owen Drive, a major thoroughfare with more than 950 feet of frontage leading up to the highly trafficked intersection of Owen Drive and Boone Trail (43,000 VPD). Briarwood is an attractive, low maintenance property - boasting all brick exteriors and pitched roofs - that has been owned by current ownership for over 18 years and has maintained impressive occupancy levels averaging 95% since January-2015. Additionally, only 7% of the current residents are military. Strong operations coupled with a recent capital infusion of over $1.023M offer incoming investors the unique opportunity to acquire a quality asset with 40% NOI growth potential through a comprehensive interior upgrade program. The property is being offered on an all-cash basis or as a loan assumption with a below market interest rate
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Briarwood
274 Units
29 Briar Circle
Fayetteville, NC  28306
Posted: 4/10/2018
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 268-unit Collins Crossing 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. Only 94 units are expected to deliver through 2021, of which Carrboro has not seen any new multifamily developments in 10 years. The growing demand of Chapel Hill paired with Carrboro’s lack of supply poises the property for consistent returns for years to come. Built in 1971, Collins Crossing offers an outstanding opportunity to invest in a quality asset that has received an investment of over $5.8 million since 2013.
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Collins Crossing
Offers Due:  Wednesday, May 8, 2019
268 Units
501 Jones Ferry Road
Carrboro, NC  27510
Type: Conventional
Posted: 4/4/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present Cross Creek Cove, a 265-unit 1984 / 1994-built apartment community in Fayetteville, NC. Strategically located along the highly popular Skibo Road corridor in west Fayetteville, the property is conveniently situated in close proximity to the city’s premiere retail nodes and top economic catalysts. Cross Creek Cove is a quality asset with low maintenance, attractive brick exteriors that has received a combined capital infusion of more than $859,000 and is being offered at a discount to replacement by its current owner, who has owned the asset for 19 years. This coupled with strong operations - the property has maintained an average occupancy level of 94% since January-2015 - and a low concentration of military tenants, currently 20%, offers incoming investors the unique opportunity to acquire a quality asset with 30% NOI growth potential through a comprehensive interior upgrade program. The property is being offered on an all-cash basis or as a loan assumption with a below market interest rate.
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Cross Creek Cove
265 Units
855 King Arthur Drive
Fayetteville, NC  28314
Type: Conventional
Posted: 4/10/2018
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 168-unit, Hawk Ridge apartment community in Winston-Salem, NC. Built in 1998, the property offers new ownership significant income upside from completion of a proven unit interior renovation program, and potential for a market-supported second phase of upgrades to push rents. Firmly cemented in a top-tier school system and demographic region ($90,000 HHI 3-mile radius), Hawk Ridge offers seamless connectivity by way of I-40 and US-158 to the premier retail and major employers of Winston-Salem - a metro defined by continued growth and a dwindling unemployment rate.
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Under Contract
Hawk Ridge
168 Units
400 Hawk Ridge Drive
Winston-Salem, NC  27103
Type: Conventional
Posted: 9/21/2018
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 144-unit, Hawthorne Willowbrook apartment community. Delivered in 2000, Hawthorne Willowbrook is located on the cusp of Greenville’s "Industry Triangle" with several of the county’s largest employers (10,500+ jobs) located just minutes from the property. Residents of Hawthorne Willowbrook enjoy seamless access to the premier retail in an area defined by an exceptional demographic base, including an average HHI of over $89,000 within a 3-mile radius. Bolstered by steady operations, the property is poised to bridge the average +$180 delta in effective rents to market competitors through a multi-pronged, proven value-add initiative.
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Under Contract
Hawthorne Willowbrook
144 Units
130 Willow Forks Drive
Simpsonville, SC  29681
Type: Conventional
Posted: 1/14/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of Laurel View, a newly-constructed 174-unit apartment community in Charlotte, NC’s thriving suburb of Concord. Recently stabilized in Feb-2019 after rapid absorption, Laurel View offers new ownership the chance to acquire a brand new asset poised for immediate rent growth to close the current $160+ gap to class A competitors in Concord - an affluent suburban submarket defined by well-educated residents and dominant white collar employment. Concord’s diminishing supply pipeline ideally positions Laurel View within an insulated competitive submarket that offers blue-chip convenience to expanding lifestyle amenities and Charlotte’s most prominent job centers via seamless access to I-85.
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Laurel View
Offers Due:  Thursday, May 9, 2019
174 Units
350 Joshua Place
Concord, NC  28027
Type: Conventional
Posted: 4/3/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 45-unit, Monarch apartment community located in Durham, NC MSA. Built in 1965, this asset received a recent investment of $382,000 in improvements. The surrounding market indicates that potential investors can take the current mid-tier renovations a step further with the opportunity to boost NOI by over 30% through implementation of a value-add 2.0 program. As Downtown Durham continues to revitalize its infrastructure, this quality, low maintenance asset is primed to capture the incoming workforce spillover as the city continues to attract new and expanding Tech/Life Sciences/Healthcare employers, resulting in an affluent and educated labor pool.
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Under LOI
Monarch
45 Units
1001 Ruby Street
Durham, NC  27704
Posted: 2/13/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 307-unit Riverwalk apartment community located in burgeoning Rock Hill, SC (Charlotte MSA). Embedded in the 1,008-acre, $600M master-planned development of Riverwalk along the banks of the Catawba River, the property boasts premier walkability to expanding retail and lifestyle amenities. Recently delivered in two phases (2016/2018), Riverwalk offers the rare opportunity to acquire a newly constructed asset below replacement cost, while imminent stabilization and a significant rent runway provide immediate income upside potential. In addition, Riverwalk is poised to benefit from a tightening rental environment, as minimal new supply coupled with rapid economic growth in York County's I-77 corridor will drive favorable fundamentals.
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Under Contract
Riverwalk
307 Units
517 Pink Moon Drive
Rock Hill, SC  29730
Type: Conventional
Posted: 9/10/2018
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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Under Contract
Southern Pines
352 Units
350 Bryant Road
Spartanburg, SC  29303
Type: Conventional
Posted: 11/19/2018
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of The Commons at Fort Mill, 144-unit apartment community. Delivered in 2009, The Commons at Fort Mill is located in the heart of the thriving Rock Hill / Fort Mill submarket, located just minutes from Fort Mill and Charlotte MSA’s top employers. The property is defined by an exceptional demographic base including an average HHI of over $109,000 within a one-mile radius and 76% white collar employment. Supported by steady operations, The Commons at Fort Mill is setup to bridge the +$275 delta in effective rents to market competitors through a layup value-add initiative, poised to generate premiums of $175.
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Under Contract
The Commons at Fort Mill
144 Units
221 Embassy Drive
Fort Mill, SC  29715
Type: Conventional
Posted: 11/14/2018
The Cushman & Wakefield Southeast Multifamily Advisory Group, in conjunction with Cushman & Wakefield Student Housing Capital Markets, is pleased to present the exclusive listing of the 85-unit / 214-bed, 1969/1989/2005 built University Park located directly across the street from NC A&T State’s 11,000+ student campus. The property is equipped with one of the most diverse unit mix offerings in the submarket, including the only townhouse-style floorplans, coupled with a host of desirable unit features. University Park is well positioned for new ownership to capitalize on property level increases in occupancy and rental rates via hands-on management, strategic capital improvements and effective marketing.
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University Park (214 Beds)
85 Units | 214 Beds
425 Stedman Street
Greensboro, NC  27401
Type: Student
Posted: 4/3/2018
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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Under Contract
Waterside Greene
378 Units
741 Woodruff Road
Greenville, SC  29607
Type: Conventional
Posted: 10/10/2018
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 10.849-acre Wesley Chapel Stouts Road Land Site located in Indian Trail, North Carolina. Only 2 properties within 3 miles have been delivered after 2000, one of which accomplished a 1 year lease-up with minimal concessions, providing developers a concrete example of the high demand for Class A apartment communities. Sheltered from future supply, the land is supremely positioned in the desirable town of Indian Trail - a region defined by affluent, dominant white collar employment, and exponential population and job growth.
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Wesley Chapel Stouts Road Land
Offers Due:  Wednesday, May 22, 2019
   
Orr Road, Wesley Chapel-Stouts Road
Indian Trail, NC  28079
Type: Land
Posted: 4/18/2019
The Cushman & Wakefield Southeast Multifamily Advisory Group is pleased to present the exclusive listing of the 240-unit, 1990-built York Ridge apartment community located in one of Charlotte’s fastest growing submarket. Situated off of a major thoroughfare and bound by an abundance of employment and retail destinations, York Ridge provides a desirable, connected suburban location. York Ridge is perfectly positioned to capitalize on Charlotte’s prolific economic development and North Pineville’s projected rent growth providing new ownership the opportunity to expand upon the property’s exceptional operations and high occupancy levels. This superb asset provides new ownership the opportunity to boost revenue via cosmetic value-add initiatives to meet submarket competitors.
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Under Contract
York Ridge
240 Units
13001 York Ridge Drive
Charlotte, NC  28273
Type: Conventional
Posted: 1/22/2019