Washington, DC Office

Cushman & Wakefield’s Mid Atlantic Multifamily Group is pleased to offer Maple Grove Apartments, a newly constructed, best-in-class 66-unit, single-family build-to-rent, 55+ community located just outside of Richmond, Virginia. Maple Grove is a one-of-a-kind asset, as it is the only 55+ community in the immediate area with no market rate rental competition, which will keep demand consistently strong. The single-family style homes offer unique features and amenities that you would not find in an apartment building, and the unit finishes exceed that of comparable for-sale homes. The property’s location in Central Virginia along the I-95 Corridor allows for an easy drive to the Richmond, Hampton Roads, and DC metro areas, along with the Blue Ridge Mountains. The local demographics are exceptional, as population growth, bachelor’s degree attainment, and whitecollar employment all exceed those of the broader Richmond MSA, creating an affluent renter by choice. Additionally, the property’s gross potential rent growth over the past year is outperforming the submarket and the broader MSA, and the submarket’s projected rent growth over the next five years is also greater than the MSA, allowing for outsized rent growth going forward. The scarcity of build to-rent and single-family rental communities in the Mid-Atlantic, combined with the impressive local market fundamentals and demographics, present investors with a unique opportunity to acquire a brand-new, well-performing asset in the high growth Richmond market.

Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present The Colonel – a value-add, 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 only one delivery expected over the next 12 months. Moreover, The Colonel holds proven renovation upside with 3 renovated units to date achieving ~$200 premiums and a study of rent comps demonstrates $200+ monthly rent increases can be unlocked through renovating the remaining units to a similar standard. 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 in conjunction with Thalhimer’s Capital Markets Group is pleased to present The View at 777 (the “Property”), a renovated, upscale 72-unit apartment community in the desirable City of Salem submarket of the high-growth Roanoke, Virginia MSA. The investment offers attractive, assumable fixed-rate financing appropriately sized at a below market interest rate. Current ownership has invested over $575,000 in capital improvements, transforming The View at 777 into a best-in-class community that appeals to more affluent tenants. The property has undergone comprehensive renovations in recent years, including extensive exterior improvements and systems-level replacements as well as in-unit upgrades. Theses strategic enhancements position The View at 777 as a standout performer within its competitive set and have directly correlated with meaningful rent growth. Located less than a mile from walkable downtown Salem, the cultural and economic hub of the submarket, The View at 777 also benefits from proximity to a wide variety of cultural, educational, and healthcare institutions, along with strong employment drivers. The MSA is currently experiencing a historic economic expansion with employment growth surpassing Virginia’s average, and total employment at an all-time high. This trend is expected to continue with several high-profile economic developments underway. With all major capital expenditures complete, The View at 777 is poised for long-term operational stability and revenue growth, offering investors a rare opportunity to acquire a fully repositioned turnkey asset in one of the region’s most desirable submarkets with strong cash flow based on attractive assumable financing and value appreciation potential.

Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present Trellis North Fayette, a 155-unit asset in the dynamic North Fayette/Robinson area of Allegheny County in the Pittsburgh MSA. Originally constructed in 1998, Trellis North Fayette was fully renovated in 2022/2023 with unit upgrades, building exterior refurbishment, interior hallway modernization, and complete overhaul and creation of modern property amenities. The asset is uniquely positioned, with rents $300-$500 below nearby competing properties and allows investors the ability to add additional value through a variety of initiatives including expense reduction and implementing a billback of utilities which is currently included in the rent – an outlier among the Property’s competitive set. Trellis North Fayette is located in one of the most sought-after areas of the Pittsburgh MSA with significant nearby employment such as the corporate headquarters of FedEx Ground and Dicks Sporting Goods, Cigna and Thermo Fisher Scientific and over 5 million SF of high-end, big box and convenience retail all within a 15-minute drive. The location’s appeal is demonstrated in the outsized population growth and lofty median household income in the area around the asset, both outpacing Allegheny County and the Pittsburgh MSA as a whole. This demand translates to market leading apartment market fundamentals with rent growth in the submarket projected to average 3.5% annually over the next 5-years, exceeding that of the broader MSA. In addition to market growth, Trellis North Fayette presents intriguing organic growth potential with most recent renewals averaging increases over 4% and new leases achieving trade-out growth of 7.5%. Trellis North Fayette presents the rare opportunity to acquire a newly renovated asset with limited near term capital requirements at well below replacement cost, with significant upside in one of the Pittsburgh MSA’s most sought after suburban locations.