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National  + South Carolina  + Apartments  | 

CushWake Brokers $169M Sale of 1,544-Unit Southeast MF Portfolio

Cushman & Wakefield has arranged the $169 million sale of an eight-property, 1,544-unit portfolio in Georgia and South Carolina. National real estate firm Capital Square 1031 acquired the portfolio.

The portfolio includes six properties in Macon, Warner Robins and Augusta, GA, as well as two properties in Aiken, SC. The average age of the portfolio is 1990, with an average rent of $901.

Taylor Bird, Robert Stickel and Nelson Abels of Cushman & Wakefield represented the sellers, McDowell Properties and Angelo, Gordon & Co., in the transaction.

“These well-located communities offered an opportunity to invest in just over 1,500 units with proven and market-supported value-add potential,” said Bird. “All eight of the properties sold to one investor, allowing for immediate efficiencies and scale in growing secondary markets.”

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

  • ◦Sale/Acquisition
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