Washington, DC Office

Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present the Alister Columbia Portfolio – a two-property value-add opportunity located in the highly desirable submarket of Columbia, Maryland. Both Alister Columbia and Alister Town Center Columbia have significant operational and in-unit renovation upside within exceptionally well maintained and amenitized assets. Columbia’s demographics are some of the best in the nation with median household incomes exceeding $115K per annum and one of the most sought-after public school systems in the country in Howard County. The area’s high quality of life, major employers, strong economic engine, and geographic positioning between Baltimore and DC have translated into outstanding renter demand. The Alister Portfolio will provide investors ample economies of scale within one of the region’s most coveted locales.

Cushman & Wakefield's Mid-Atlantic Multifamily Advisory Group is pleased to present The Gates of West Bay – a proven value-add apartment community with an exceptional profile in Norfolk, VA. The Hampton Roads metro area, and Norfolk in particular, has experienced an accelerated period of economic and employment growth borne out of significant government and government-related investment in the region. The property is simultaneously close by to the city’s largest employment centers (Naval Station Norfolk and The Port of Virginia) and its most desirable beaches and outdoor venues. In addition to lease trade outs that have averaged 8.4% over the past two months, The Gates of West Bay has also demonstrated achievable monthly premiums of ~$125 per unit on average through an in-place renovation program that makes over kitchen, flooring, and bathroom features. Furthermore, the Northern Norfolk apartment market remains fundamentally strong with 8% year-over-over rent growth and 3.5% vacancy over the course of last year. Unemployment in the area is below the national average, the median age of residents is about seven years younger than the MSA as a whole, and a large majority of the local population (55%) rents rather than owns their homes. The confluence of these factors – and the permanent, expanding presence of the military and industrial complexes in the immediate area – will sustain and enhance an active tenant base for The Gates of West Bay into the foreseeable future. Lastly, the property carries with it assumable, accretive agency financing with a below-market fixed interest rate that can be supplemented post-closing for enhanced leverage.

Cushman & Wakefield is pleased to present Revel (the “Property”), a 395,018 SF newly constructed trophy mixed-use asset consisting of 500 multifamily units (of which 104 units are subject to a long-term master lease from a corporate housing firm, Churchill Living), 39,051 SF of retail space, and a 130-space commercial parking garage in Washington DC within the NoMa neighborhood. Revel presents the exceedingly rare opportunity to own a neighborhood anchor, mixed-use development nestled in the heart of NoMa - an area nearing the end of a decades-long transformation from a fledgling industrial hub into Washington DC’s fastest growing neighborhood. Newly constructed and delivered in September 2022, Revel offers 355,967 SF of trophy residential and exceptional street-focused retail and outdoor spaces designed for community activities - both intertwined into one single asset well below current replacement costs. With NoMa’s resident population expected to double by 2026, Revel checks all the boxes for a potential investor as it was designed to be a 24-hour hub for residents who want to live, shop, work, and dine in the immediate area and destined to be at the forefront of this rapid transformation and booming housing demand.

Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present The Colonel – a core plus, mixed-use asset in Shaw, Washington, DC’s rapidly expanding and hippest neighborhood. The Colonel’s prime location allows for unparalleled access to Blagden Alley, with its unique mix of history, modern mural art, and world class bars and restaurants. The minimarket around the property is supply-constrained, with no new deliveries anticipated until late 2024 or early 2025. Moreover, The Colonel holds renovation upside, as a study of rent comps demonstrates $200+ monthly rent increases can be unlocked through a unit interior renovation program. The submarket’s demographics show that the 25 to 34 year-old young professional segment is the largest and fastest-growing, and residents at the property are one block away from the nearest metro station, providing direct access to employment, DC’s waterfront, and Northern Virginia. Overall, The Colonel occupies the best location in DC’s most desirable residential and entertainment enclave and features rental upside within a supply-constrained minimarket, making it a one-of-a-kind multifamily investment opportunity.

Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present The Flats at Columbia Pike – a value-add asset in Silver Spring, MD outside of Washington, DC. The asset offers immediate scale and has been extremely well maintained with $3.1 million invested in capital improvements including 100% replacement of windows and sliders over current ownership’s three years of operations. The property is being sold with attractive assumable financing with a below market rate and two years of interest only remaining. Approximately 10% of units have been renovated, generating $200 rent premiums, and the ability exists to continue or expand upon the current renovation scope for additional rent increases. The ability to add or improve upon current amenities could also generate additional premiums. The property is uniquely positioned in Montgomery County, Maryland allowing residents access to unparalleled private and public employment, with multiple government agency headquarters, the University of Maryland, and the I-270 Life Sciences Corridor all less than 25 minutes away. Furthermore, the property is within walking distance of the White Oak Transit Center with coveted Flash Bus Rapid Transit service that runs along traffic-bypass lanes to fast track daily commutes. Overall, the asset’s outstanding condition, size, rental upside, and assumable financing in one of the most desirable metro areas on the East Coast make The Flats at Columbia Pike a rare multifamily investment opportunity.