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The Fields at Rock Creek presents a rare opportunity to acquire a modern, functional, value-add asset in Frederick, MD. The Property’s location proximate to the region’s most trafficked accessways, I-270 and I-70, provides direct connectivity to the largest economic engines in the greater Washington and Baltimore MSA’s. Tremendous in-place employment there includes the I-270 Technology Corridor, Northern Virginia office market, and high-quality local employment in Frederick and Urbana which is leading to sustained demand from an affluent renter base. Additionally, the Frederick County Public School System creates a significant draw for younger renters who are looking for the unique combination of a top-tier education system at a relatively affordable cost of living. This increased demand is creating strong apartment market fundamentals with effective rent growth in the submarket of 15.2% YoY in Q4 2021 and vacancy of just 2.3%. The Property is perfectly positioned to take advantage of these lofty fundamentals and is currently 97% occupied with a proven value-add upside. Approximately 230 units have been renovated to achieve $150 premiums with 26% of the units (84 units) still in Classic condition. The opportunity exists for a new owner to renovate the remaining Classic units as well as upgrade the current renovation package to achieve premiums of $200+. The Fields at Rock Creek’s top-of-the-line community amenities, dynamic location and premier assigned schools is driving demand for an affluent renter by choice as evidenced by gross potential rent increasing 7.2% year-over-year 2021.
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The Fields at Rock Creek
314 Units
100 Alessandra Court
Frederick, MD  21702
Type:  Multifamily
Closed: 7/29/2022
Cushman & Wakefield’s Mid-Atlantic Multifamily Group is pleased to offer The Residences at Annapolis Junction, Maryland’s premier suburban Class AA asset. The Residences at Annapolis Junction, constructed in 2018 to LEED Gold certified, combines best-in-class, resort style amenities with top of market finishes in one of Maryland’s top investment markets, Howard County, Maryland. The asset is located in a transit oriented mixed-use town center with unique local retailers and office space providing a sense of place for residents that is rare among suburban assets in the Washington-Baltimore Corridor. The property is located at the doorstep of Maryland's largest employer, Ft. Meade and NSA, and within walking distance from the acclaimed National Business Park which features a high end network of government and contractor employment. This employment provides a consistent and affluent renter by choice which, coupled with The Residences at Annapolis Junctions Howard County address provides a competitive advantage relative to similar vintage competitors in nearby Anne Arundel and Prince George’s County. This has led to high growth, low vacancy property level fundamentals which have been consistently sustained since stabilization. The Residences at Annapolis Junction provides investors the ability to acquire a best in class asset adjacent to high end employment with significant competitive advantages in the prestigious Howard County jurisdiction of the Washington-Baltimore Corridor. The Property’s strong historical and current performance coupled with limited multifamily pipeline will allow for continued rental rate growth and asset appreciation.
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The Residence Annapolis Junction
416 Units
10125 Junction Drive
Annapolis Junction, MD  20701
Type:  Multifamily
Closed: 7/22/2022
Cushman & Wakefield's Mid-Atlantic Multifamily Advisory Group is pleased to present The Residences at Waterstone, a rare opportunity to acquire a unique, proven value-add asset in the one of the Baltimore MSA's best suburbs. The Property, built in 2002, is a first-generation value-add investment with functional characteristics similar to newly constructed assets within the Baltimore MSA. The Property presents some of the largest floorplans in the market averaging 1,453 square feet with many featuring individual garages leading into units. The combination of drive-up garages, spacious floorplans, and institutional quality has allowed for rental increases of up to $260 on renovated units with 61% of the units still in Classic condition. Renovated units are upwards of $300+ below the market rents of neighboring competitive properties which can allow for addition rent premiums. Increased tenant demand is creating strong apartment market fundamentals with effective rent growth in the submarket of 12.8% YoY in Q4 2021 and vacancy of just 2.6%. The Property is perfectly positioned to take advantage of these lofty fundamentals and is currently 93% occupied. The Residences at Waterstones top-of-the-line community amenities, dynamic location, below market rents and proven value-add upside presents a rare opportunity to acquire suburban Baltimore's most unique apartment community.
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The Residences at Waterstone
255 Units
225 Galvariun Court
Pikesville, MD  21208
Closed: 6/15/2022
Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present The Pointe at County Crossing (The Property), a 466 -unit townhome community with proven value-add potential in Baltimore, MD. The Pointe at County Crossing presents the opportunity to acquire immediate scale in one of the Mid-Atlantic’s highest performing apartment markets. The Baltimore market has been an outperformer with low vacancy and accelerated rent growth over the last twelve months with this trend projected to continue. The Property is perfectly positioned to take advantage of these lofty apartment fundamentals due to its dynamic Harford County location, within the high growth I-95 Industrial corridor. The Property is currently 95% occupied and has proven upside with renovated unit garnering rent increases up to $175. The opportunity exists to renovate the remaining 66% of units (307 total units) to achieve similar or increased premiums based on rents for renovated units in the immediate competitive set. The Pointe at County Crossing presents a unique opportunity to acquire a large-scale asset with proven value-add upside in Baltimore, MD, one of the Mid-Atlantic’s best multifamily markets.
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The Pointe at County Crossing
466 Units
311 Trimble Road
Joppa, MD  21085
Type:  Multifamily
Closed: 6/1/2022
Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present Townhomes of Oakleys ("The Property"), a 160-unit, affordable housing multifamily asset in Richmond, Virginia. The Townhomes of Oakleys offers residents a rural setting yet proximate to Downtown Richmond, Richmond International Airport, and many highways including I-64 and I-95. The Property, built in 1974, provides residents with a variety of spacious and unique floor plans at an affordable price. The current market rents at the Property are below the Henrico County’s 2020 Fair Market Section 8 Housing by an average of $415 per unit providing the opportunity to increase current market rents to the Fair Market Section 8 rent in Henrico County. Additional value can be realized once the affordability expires at the Property. The Property is located in the premier Henrico County, one of the best in Richmond, with dynamic regional access to Downtown Richmond, Richmond International Airport, and significant retail and amenities. Within a short walk from the Property is White Oak Village which includes Publix Super Market, Lowe’s, Target, Starbucks, JC Penny and much more. The Richmond MSA has performed exceedingly well throughout the Covid-19 Pandemic with effective rent growth at 10.9% in Q3 2021 and vacancy rates dropping to 2.9%. The Townhomes of Oakleys unique asset quality, affordability, premier location and dynamic access, make it a rare opportunity to acquire an affordable townhome community in Richmond with the ability to mark rents to the Section 8 market in the high growth Richmond apartment market.
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Townhomes of Oakleys
160 Units
4633 Needham Court
Richmond, VA  23231
Closed: 4/1/2022

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Cushman & Wakefield is pleased to offer for sale, The Upton, a newly constructed, luxury mixed-use apartment building located in one of the country’s top investment markets, Montgomery County, Maryland. The asset is located one block from the Rockville Metro Station in the award-winning Rockville Town Center. The Upton consists of 263 multifamily units, 15,982 square feet of ground level retail and a commercial parking garage. Located in the heart of the I-270 Technology and Life Science Corridor and adjacent to county executive offices, city hall, multiple courthouses and numerous corporate office users, The Upton offers an investor access to one of the nation’s leading and most stable employment bases. The Property’s strong history performance coupled with limited multifamily pipeline allow for continued rental rate growth.

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The Upton
263 Units
44 Maryland Avenue
Rockville, MD  20850
Closed: 10/20/2021
The Flats at West Broad Village is Richmond’s premier multifamily property, offering a unique lifestyle experience that is not replicated in the broader Richmond market. The asset’s town center construction with structured parking is unique in the Richmond market with significant amenities including Whole Foods and Trader Joe’s within walking distance. The Property, built in 2009, combines institutional quality construction and timeless exterior architecture with newly created, best-in-class amenities creating an unmatched luxury offering. Additional value can be added by replicating a proven in-unit renovation which is achieving a $165 premium on average. Further, 9,000 square feet of recently created, high end amenity space has not yet been utilized as a leasing tool and is a differentiator among luxury properties in the immediate area. The Property’s location is the best in Richmond, along the bustling West Broad Street corridor with access to high-end retail and the region’s preeminent office park Innsbroook. The Flats at West Broad Village’s exceptional asset quality, premier location and walkable lifestyle amenities, make it a rare opportunity to acquire Richmond’s most unique asset with additional renovation upside in the high growth Richmond apartment market.
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The Flats at West Broad Village
339 Units
3930 Wild Goose Lane
Glen Allen, VA  23060
Closed: 10/15/2021
Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present Turnpike Townhomes (the "Property"), a pristine 100-unit apartment community built in 2008 located in Danville, Virginia. The Property is well positioned within the market to take advantage of the rapid economic growth and development driven by Caesars Entertainment Group’s commitment to spend $400 million to open a premier destination resort casino in Danville. Located along the southern border of Virginia, 70 miles south of Roanoke, Virginia, and 45 miles northeast of Greensboro, North Carolina, Danville is currently experiencing an economic resurgence which has generated sustained economic growth resulting in pre-COVID unemployment levels at an 18-year record low of 4.40%. The area is a significant hub for advanced manufacturing with major employers including both national and international companies and the home of Sovah Health, a 250-bed major regional hospital that employs over a thousand professionals. The Property is owned and managed by a private individual and the opportunity exists to introduce significant efficiencies on the income side including organic rental growth and utility expense recapture to create long term value and stable cash flow for a new investor.
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Turnpike Townhomes
100 Units
1300 Franklin Turnpike
Danville, VA  24540
Type:  Multifamily
Closed: 6/11/2021
Modera Fairfax Ridge is a rare opportunity to acquire a best-in-class asset in one of the leading jurisdictions in the dynamic Northern Virginia market. The Property’s location at the nexus of I-66 and VA Route 50 provides direct connectivity to the region’s largest economic engines and employment centers including Tysons, Reston/Herndon, the R-B Corridor, Alexandria, and downtown Washington DC. This coupled with a pronounced outmigration trend from the urban core has led to strong renter demand from an affluent population historically and over the previous 12-months. The asset’s location in proximity to George Mason University provides additional pent up rental demand once students return to in-person learning. The micro market surrounding Modera Fairfax Ridge is supply constrained with limited future supply under construction or planned. This will allow Modera Fairfax Ridge to experience above market growth with tight occupancy through 2021 and beyond. The asset’s Fairfax County location makes for a stable, consistent investment with strong future growth prospects in one of the nation’s safest metropolitan areas during times of economic uncertainty.
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Modera Fairfax Ridge
213 Units
3887 Fairfax Ridge Rd
Fairfax, VA  22030
Closed: 5/20/2021
Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present The Hill, a gut renovated 13-unit property in the heart of Washington, DC’s Capitol Hill neighborhood. Originally constructed in 1955 and completely renovated and modernized in 2020, The Hill is the premier opportunity to acquire a core asset in the city’s most historic neighborhood. Building systems have all been replaced and modernized with new mini-split heating and AC units, in-unit washer-dryers and condo-quality finish levels. The Property’s one-of-a-kind location at the intersection of Independence Avenue, Pennsylvania Avenue and 2nd Street Southeast creates immediate connectivity to the Capitol Building and Library of Congress in addition to unbelievable access to the city’s largest employment nodes, including Amazon HQ2. The Capitol South Metro Station is only two blocks from the Property, providing dynamic optionality for residents to access to the entire city and the greater Washington metro area. The Hill’s exceptional location and premium finish level presents investors with the rare opportunity to acquire a core asset with organic upside in one of the District’s most highly sought after neighborhoods.
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The Montana
13 Units
220 2nd Street SE
Washington, DC  20003
Closed: 12/28/2020
Cushman & Wakefield is pleased to present Urban Green Apartments, a 352 unit Class A apartment community in Urbana - Frederick, MD’s most exclusive rental market. The Property’s location proximate to the region’s most trafficked accessways, I-270 and I-70, provides direct connectivity to the largest economic engines in the greater Washington, DC MSA. Convenient access to tremendous employment in Urbana, Frederick, the I-270 Technology Corridor and Northern Virginia is creating sustained demand from an affluent renter base. Additionally, the Frederick County Public School System creates a significant draw for younger renters who are looking for the unique combination of a top-tier education system at a relatively affordable cost of living. This increased demand is creating strong apartment market fundamentals with effective rent growth in the submarket of 3.75% YoY in Q4 2019 and vacancy of just 3.94%. Urban Green’s exclusivity in the submarket and premier school district are driving the Property to grow Gross Potential Rent 4.34% over the year which is significantly outperforming the greater market. Property operations at Urban Green will remain strong moving forward due to a severely supply constrained development pipeline and projected annual effective rent growth of 3.08% in the Frederick submarket from 2020 to 2024.
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Urban Green
352 Units
3300 Galena Drive
Frederick, MD  21704
Type:  Multifamily
Closed: 12/23/2020