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Cushman & Wakefield's Mid-Atlantic Multifamily Advisory Group is pleased to present Marina Shores – an institutional level apartment complex located in Virginia Beach, one of the fastest-growing and most desirable submarkets within the Hamptons Roads region. Hampton Roads, and Virginia Beach in particular, has experienced a sustained period of economic, population, and employment growth borne out of significant government and government-related investment in the region. The property itself is a singular chance to invest in real estate that exhibits extremely high barriers to entry and portrays a resort-style quality of life for residents. Through renovations, Marina Shores has seen proven rental upside in the range of $340 for its Classic, un-renovated units. Moreover, the site is unique in that it has the capacity to increase density with an additional ~49 units. The combination of a near unobtainable locale, the prospect of renovation potential, and the ability to add density makes Marina Shores an investment opportunity with a clear path to capture significant upside.
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Marina Shores
392 Units
2257 Willow Oak Circle
Virginia Beach, VA  23451
Posted: 10/4/2022
Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present Hickory Point – a well-maintained complex of 175 townhouse-style apartments located in Newport News, one of the fastest-growing and most desirable submarkets within the Hamptons Roads region. Hampton Roads, and Newport News in particular, has experienced a sustained period of economic, population, and employment growth borne out of significant government and government-related investment in the region. Moreover, the Newport News apartment market remains fundamentally strong with 14.7% year-over-over rent growth, vacancy at 3.0%, and concessions well below their long-term averages. The combination of Hickory Point’s access to employment, transportation nodes, and convenient retail makes it prime for rental upside and investment potential.
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Hickory Point Townhomes
175 Units
399-A Hickory Point Blvd
Newport News, VA  23602
Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present The Centerpoint Tower (“The Property”), in Baltimore, MD. The property is in a prime area of downtown Baltimore, within an opportunity zone, and proximate to the largest demand drivers in the city. The Centerpoint Tower totals 221- units and is comprised of a 2005 built apartment asset and a 406 space structured parking garage which is included in the offering. The Centerpoint Tower offers investors significant value-add upside through the renovation of unit interiors and additional expense efficiencies with a modernization of the property’s utility system. The property’s location, modern unit design and stunning downtown views make it highly desirable from a rental standpoint, but rents lag the overall market and nearby Class A competitors. Renovating unit interiors will allow a new investor to increase rents and still be attractively priced relative to competing properties. The Property is located within walking distance to Baltimore’s Central Business District’s main commercial corridor (Pratt Street) and in proximity to one of the city’s largest employers, University of Maryland Medical Center, which provides consistent tenant demand. The Centerpoint Tower presents a rare opportunity to acquire a first generation value add asset with operational upside in the path of growth proximate to downtown Baltimore’s largest demand drivers.
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The Centerpoint Tower
221 Units
8 N Howard Street
Baltimore, MD  21201
Type: Conventional