Cushman & Wakefield’s Southeast Multifamily Advisory Group has arranged thesale of Hawthorne Glen at Strickland, a 156-unit apartment community located in Raleigh, North Carolina. Watson Bryant, Jordan McCarley and Marc Robinson of Cushman & Wakefield’s Charlotte, North Carolina, office represented the seller, Hawthorne Residential Partners, in the transaction. The Solomon Organization acquired the property.
“Raleigh will continue to bea favorable market as its current population boom is supported by strong job growth,” Bryant said. “Hawthorne Glen at Strickland is a unique, boutique property that was a great acquisition for the buyer, who has the opportunity to capitalize on the asset’s connectivity to the metro’s top employment nodes such as Park Center Project currently under development.”
Hawthorne Glen at Strickland, built in 2000, is 95.6 percent occupied. Located within the Interstate 540 loop, the property is near Raleigh’s major employment nodes featuring 70,000 high-paying jobs at employers such as Lenovo, IBM, BASF, Cisco Systems, Oracle, Qualcomm and Lockheed Martin.
Cushman & Wakefield’s Southeast Multifamily Advisory Group is the most active firm in the region, with the No. 1 market share based on transactions reported to CoStar. The group has closed $2.7 billion in sales volume in 2017, totaling over 175 deals and more than 35,000 units. On average, the team has experienced 63 percent sales growth within the last five years. For more information about Cushman & Wakefield’s Southeast Multifamily Advisory Group, visit https://multifamily.cushwake.com.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 45,000 employees in more than 70 countries help occupiers and investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. 2017 marks the 100-year anniversary of the Cushman & Wakefield brand. 100 years of taking our clients’ ideas and putting them into action. To learn more, visit www.cushwakecentennial.com, www.cushmanwakefield.com or follow @CushWake on Twitter.