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Cushman & Wakefield Arranges $75M Multifamily Sale on Behalf of JEM Holdings
Rhea-AI Impact
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Rhea-AI Sentiment
(Neutral)
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Rhea-AI Summary
Cushman & Wakefield (NYSE: CWK) has successfully arranged the $75 million sale of the Country Club apartment community, comprising 454 units in Charlotte, North Carolina. The transaction was facilitated by Watson Bryant and Brooks Colquitt, representing the seller, JEM Holdings. Jessica M. Saks, COO of JEM, noted the successful execution of a value-add strategy in a rapidly growing market. The property is well-positioned for future rental growth with limited nearby supply, according to Colquitt. The firm has a robust market presence, ranking No. 1 in Sunbelt market share with $6.2 billion in multifamily and land sales in 2020.
Positive
Cushman & Wakefield arranged a $75 million sale of a 454-unit apartment community, indicating strong market activity.
Transaction represents a successful value-add strategy in a fast-growing submarket, enhancing investor confidence.
Company's Sunbelt Multifamily Advisory Group leads the market with a significant share, reflecting strong operational capacity.
Negative
None.
CHARLOTTE, N.C.--(BUSINESS WIRE)--
Cushman & Wakefield (NYSE: CWK) announced the commercial real estate services firm has arranged the $75 million sale of Country Club, a 454-unit apartment community located in Charlotte, North Carolina.
Watson Bryant and Brooks Colquitt of Cushman & Wakefield represented the seller, JEM Holdings, in the transaction. Concordia Properties acquired the property.
“Over seven years of ownership, we were able to successfully execute on our value-add strategy in one of the fastest growing markets in the Southeast,” said Jessica M. Saks, Chief Operating Officer of JEM Holdings. “We would like to thank Cushman & Wakefield for facilitating a seamless transaction. We also want to congratulate Concordia on their acquisition and wish them success in the next phase of ownership for this property.”
“Country Club is situated in one of the most dynamic submarkets in all of Charlotte and is poised for future rental growth with limited nearby future supply,” Colquitt said.
Cushman & Wakefield’s Sunbelt Multifamily Advisory Group ranks No. 1 in Sunbelt market share based on over 250 transactions and $6.2 billion in multifamily and land investment sales in 2020 (Source: Real Capital Analyticswww.rcanalytics.com). Market share reflects number of sales for Alabama, Arkansas, Northwest Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Texas. For more information, visit https://multifamily.cushwake.com.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and 60 countries. In 2020, the firm had revenue of $7.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
