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Cushman & Wakefield is pleased to offer 2700 Wynwood, a 1.25 acre landmark development opportunity centrally located on NW 2nd Avenue, Wynwood’s most prominent address. Wynwood is globally recognized as one of Miami’s popular entertainment hotspots. 2700 Wynwood is zoned to permit a broad range of uses, including residential, retail, hospitality and office, among others. Zoning allows building heights up to 8 stories (with bonuses) and the permitted “by-right” residential density is 150 units per acre. (Density can be increased 50% to 225 units per acre through Trust Fund contributions). The property is ideally suited for intense mixed-use development designed to optimize its main and main location at the heart of Wynwood.
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2700 Wynwood
   
2700 NW 2nd Avenue
Miami, FL
Posted: 5/2/2021

Cushman & Wakefield, as exclusive advisor, is pleased to present an urban infill recapitalization opportunity for Altis Grand Central – Central Florida’s premier 314-apartment home asset located in Tampa, Florida (the “Property”). The Property is comprised in a 8-story wrap design with a combined average unit size of 857 square feet. Altis Grand Central is walkable to the University of Tampa and notable retail destinations including the Oxford Exchange and Mise en Place. The Property is conveniently located in close proximity to Tampa’s most notable entertainment and cultural destinations including the Julian B. Lane Riverfront Park, Curtis Hixon Park, Sparkman Wharf at Water Street, The Heights, Hyde Park Village, Tampa Museum of Art, Straz Center, Amalie Arena, and The Florida Aquarium. Developed by nationally recognized Altman Companies, Altis Grand Central represents a rare opportunity in the Southeast United States within the Tampa MSA.

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Altis Grand Central
315 Units
504 West Grand Central Avenue
Tampa, FL  33606
Posted: 4/30/2021

Cushman & Wakefield, as exclusive advisor, is pleased to present the core-plus investment opportunity to acquire the 700 unit City Center on 7th in Pembroke Pines, Florida. The property features an appealing unit mix with 425 garden style apartment homes and 275 two-bedroom townhomes with a market-leading size of 1,143 square feet. Of the townhomes, 55% have direct-access two car garages while 18% have one car garages. Originally built in two phases in 2014 and 2015, the property has upgraded 320 units – changing Formica countertop in the kitchens and bath to quartz for a $75 monthly premium. Given its two-phase development, the property now has two clubhouses, pools and fitness centers. The recently completed Pines City Center provides residents walkability to 300,000 square feet including Publix and other shopping and dining destinations. Its central Broward location provides residents quick commutes to the major employment centers in South Florida.

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Under Contract
City Center on 7th
700 Units
10170 SW 7th Street
Pembroke Pines, FL  33025
Type: Conventional
Posted: 2/17/2021

Cushman & Wakefield, as exclusive advisor, is pleased to present Cottage Cove - a 468-unit value-add opportunity located in Miami, Florida. Situated on 23.75 acres, Cottage Cove provides a low density, value-add opportunity with above market cash-on-cash returns. The property is offered free & clear although there is an option to assume the current loan. The opportunity to acquire a critical mass of units in Miami is rare. In the past 10 years, there has been less than 2 transactions per year of 400+ unit properties in Miami-Dade on average.

Current ownership has spent approximately $3.4 million in improving the property, ensuring limited need for major capital expenditures. Part of the renovations include replacing 94 out of 100 roofs in 2018. A future investor can further enhance the existing cash flows by implementing an in-unit renovation program to modernize the units by replacing carpet with vinyl tile flooring and upgrading kitchens and bathrooms to generate potential additional income of about $440,000. (6.6% over current market rents). There 45 units (9.6%) fully upgraded at the property. These units receive $140 premium over the classic units.

Cottage Cove provides immediate positive cash flow. In the past 12 months, the retention rate at the property was 65% with the most recent month’s retention rate hitting 85%. Over the past year, there has been 229 rent renewals that averaged an astonishing 6% in rent bumps making rent renewal a better option as opposed to renting the units to new tenants at market rents.

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Cottage Cove
Offers Due:  Wednesday, June 16, 2021
468 Units
12 NE 188th Street
North Miami, FL  33179
Type: Conventional
Posted: 4/26/2021

Cushman & Wakefield, as exclusive advisor, is pleased to present an exceptional investment opportunity to acquire Emerald Landings (the “Property”) – a 20-unit, luxury townhome community located in Tamarac, Florida. The property was built in 2015 to sell as individual townhomes. No townhomes were sold and the property operates as a single folio and ownership of all units.

Emerald Landings represents the rare opportunity for an investor to acquire a boutique, luxury townhome community without any HOA obligations. The property offers strong in-place income. Current market rents at the property are $2,364 whereas in place effective rents are $2,210 per month. A new investor can recognize revenue upside by eliminating $36,900 or $154/u/m in loss-to-lease by renewing or offering new leases to the units which are at below market levels. A new owner will also have the potential exit strategy of selling the units individually once the “for sale” market stabilizes.

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Under Contract
Emerald Landings
20 Units
7561 NW 88th Terrace
Tamarac, FL  33321
Posted: 4/8/2021

Cushman & Wakefield is pleased to present the opportunity to acquire Lakeshore Heights - a 160-unit, three-story, garden-style apartment community located in Tallahassee, Florida (the "Property"). Completed in 2000, the Property went through a major renovation in 2019 that converted and upgraded many of the four-bedroom units to studio, one and two-bedroom units. Thirty-two four-bedroom units remain, demonstrating the possibilities for new ownership to complete the renovations. Lakeshore Heights offers residents immediate proximity to retail and dining options, as well as Interstate 10, providing East-West access from Jacksonville to Pensacola. Florida State University, Tallahassee Memorial Hospital, and the Tallahassee International Airport are all within 15 minutes from the Property.

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Lakeshore Heights
160 Units
1375 Pullen Road
Tallahassee, FL  32303
Posted: 5/19/2021

Cushman & Wakefield, as exclusive advisor, is pleased to present the extraordinary opportunity to acquire Modera Metro Dadeland (the “Property”) – a transit-oriented, urban infill 25-story high-rise located in Miami, Florida, with tremendous walkability and regional connectivity via access to the Metrorail.

Developed by nationally recognized Mill Creek Residential, Modera Metro Dadeland was completed in 2018 and is comprised of 422 luxury apartment homes. The Property was meticulously designed to provide residents elegant unit features and expansive amenity space. Thus, it has attracted a sophisticated demographic with an average age of 38 and average household income of $147,000.

Modera Metro Dadeland’s quality energy efficient construction with LEED Silver Certification and irreplaceable location position the property for long term, sustainable cash flows in a rapidly growing market.

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Modera Metro Dadeland
422 Units
8215 SW 72nd Avenue
Miami, FL  33143
Posted: 5/20/2021

Cushman & Wakefield, exclusive marketing advisor, is seeking a recapitalization in REIT share interest in Society Las Olas (the “Property”) – a 34-story, mixed-use, TOD residential high rise located along the New River and renowned Las Olas Boulevard in Fort Lauderdale, Florida. Society Las Olas is the city’s premier rental apartment community that has leased at a record pace despite opening during the peak of the Covid-19 pandemic in late May 2020. The Property is composed of 639 luxury residences and also includes 27,801 square feet of office space, 4,295 square feet of seller owned and fully leased retail and 16,367 square feet of third-party owned and fully leased retail (third-party owned retail is not included in this offering).

Metro areas, including South Florida, are experiencing an affordability challenge as new high-end and highly-amenitized developments lack a broadly affordable entry price point. Society Las Olas’ innovative approach and creative design—through unit size and layout—addresses the problem of ever-increasing entry price points into highly urbanized markets. Society Las Olas’ flexibility of accommodating both rent-by-bedroom (RBB) units and short-term rental (STR) operations at ownership’s discretion allows young urban professionals the opportunity to experience the vibrant downtown at an attractive and cost effective price without sacrificing amenities or living experiences; in fact, they are provided a better one. The Property’s RBB units are proving to be a great starting point for younger renters who then graduate within the building to full units as their needs and careers grow.

The Property’s downtown location along the river and its immediate walkability to the Brightline station presents an extremely rare acquisition opportunity, which a long-term investor will greatly benefit from. Society Las Olas’ premiere quality, expansive amenity offering, and irreplaceable location are best positioned to benefit from the city’s impending growth and expanding transit connectivity for years to come.

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Society Las Olas
639 Units
301 SW 1st Avenue
Fort Lauderdale, FL  33301
Posted: 4/1/2021

Cushman & Wakefield, as exclusive advisor, is pleased to present Residences Uptown Boca, a brand new, 456-apartment home, Class AAA residential community located in Boca Raton, Florida.

Boca Raton is sought after for its A-rated schools, thriving retail corridors and tremendous access to employment. The property is walkable to the newest and most desirable retail in the area which includes 158,000 square feet and will be anchored by a high-end grocer. The property is adjacent to the 100-acre Jewish Federation of South Palm Beach County. This site includes schools, assisted living and community centers and is the largest of its kind in the US. Uptown Boca’s location provides access to over 18 million square feet of office space and over 125,000 jobs.

Residences Uptown Boca’s architecture and five-story design make a stunning impression. Its apartment homes have unrivaled asset quality, best-in-class finishes and thoughtful touches catering to the highest renter profile. The property opened in November and has averaged over 45 leases per month demonstrating the strength of the property and the market.

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The Residences Uptown Boca
456 Units
20940 Uptown Avenue
Boca Raton, FL  33428
Posted: 4/22/2021

Cushman & Wakefield, as exclusive advisor, is pleased to present a multifamily investment opportunity to acquire Town Lantana (the “Property”) – an increasingly scarce east of I-95, new construction, luxury garden apartment development of 360 apartment homes in the growing area of Lantana, Florida. The property is comprised of 14 three-story buildings walk-up units averaging 947 square feet that are serviced by detached garages and car ports. Town Lantana is located less than 0.5 miles from I-95 and 1-mile from the beach.

The community is a short distance from millions of square feet of high-paying jobs in Boca Raton, Downtown Delray Beach and the Central Business District of West Palm Beach. The property also has tremendous access to Lantana Blvd (35,500 cars daily) and will have future walkability to 125,000 square feet of retail that is under construction. The property opened in January of 2020 and has quickly moved through the lease-up process in part due to its market-leading luxury finishes and unmatched amenity offering and a rare low-density setting of 22 units per acre.

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Town Lantana
Offers Due:  Friday, June 11, 2021
360 Units
1001 Watertower Way
Lantana, FL  33462
Posted: 4/19/2021
Cushman & Wakefield as exclusive marketing advisor, is pleased to present the opportunity to acquire Valencia South Miami, 67 out of 301 Class A condominium units footsteps from South Miami Hospital, University of Miami, Metro-Rail, and Dadeland. Built in 2004, Valencia South Miami is a 6-story building with a structured parking garage, luxury amenities, and large floor plans that average 1,054 square feet. The 67 units are 100% occupied with $2,380 average market rents. The property is strategically located adjacent to the Metrorail Station of South Miami, only a block away from the 453-bed Baptist South Miami Hospital and a mere 0.2 miles away from Sunset Place, South Miami’s largest shopping mall. Within a 2-mile radius around the property there are 5.4M square feet of retail and 4.4M square feet of office space. Dadeland Mall, a 1.5M square feet mall is located 1.4 miles southwest of the property, in the heart of downtown Kendall, an office market with over 1.5M square feet of Class A office space. The mall is only two Metrorail stops away. Valencia South Miami is one Metrorail stop from the University of Miami campus. The university has a total enrollment of almost 17,000 with approximately 75% living off campus. It also has more than 13,000 full and part-time faculty and staff.
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Coming Soon
Valencia South Miami
66 Units
6001 SW 70th Street
Miami, FL  33143
Posted: 4/8/2021
Cushman & Wakefield, as exclusive marketing advisor is pleased to present Vue on 67th, a garden-style apartment community consisting of 178 units located in Davie, Florida. The project was developed in two phases, Phase I completed in 1973 and Phase II completed in 1974. The property features a unique unit mix of one- and two-bedroom units with an average unit size of 714 square feet. Vue’s Central Broward location with easy access to I-595, allowing residents to benefit from direct access to Plantation’s Midtown Business District, Sawgrass Corporate Park, Fort Lauderdale CBD and the adjacent South Florida Education Center. Vue has undergone renovations to approximately 75% of its units and have been achieving premiums of up to $425+.
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Under LOI
Vue on 67th
178 Units
4199 SW 67th Avenue
Davie, FL  33314
Posted: 3/17/2021