Cushman & Wakefield to Sell Multifamily Properties

ATLANTA, GA - Cushman & Wakefield’s Atlanta-based Multifamily Investment Sales group has teamed with Auction.com, a leading auction site for both commercial and residential real estate, to sell six high-quality multifamily properties in Atlanta, Memphis and Charlotte. The six properties, which Cushman & Wakefield is marketing on behalf of a special servicer, will be among 65 assets offered for sale in the Auction.com multifamily property auction to be held March 5 to 8.

“This is a new and efficient system for selling multifamily and other real estate assets,” said Michael Kemether, Atlanta Multifamily Sales Director for Cushman & Wakefield. “It allows Cushman & Wakefield to broadly market properties and provide our clients the property tours and detailed property and market information that are always part of the process, while using a proven auction system to assure a successful and quick closing.”

Added Multifamiily Sales Director Brandon Whitesell: “We have used auctions in the past for lesser-quality properties, but the unique thing about this auction is that there has never been a collection of such geographically diverse and high-quality multifamily properties auctioned at the same time. It will be fascinating to see how this plays out among the type of clientele who invest in top-tier multifamily assets.”

The six properties that Cushman & Wakefield will sell in the auction include:

Memphis
• Colonnade at Germantown, a 252-unit property located at 7491 Wyndhurst Place in Germantown, TN. Built in 1996.
• Villas at Cordova, a 256-unit property located at 8546 Prestine Loop, Cordova, TN.  Built in 2003.
• Waterford Place, a 320-unit property located at 8037 Waterford Circle, Memphis, TN. Built in 2001.

Atlanta
• Ashby at Peachtree Corners, a 490-unit property located 6520 Hillandale Drive, Norcross, GA. Built in 1972. 
• Valley Place, a 250-unit property located at 3324 Valley Brook Place, Decatur, GA. Built in 1983.

Charlotte
• Carrington Place, a 274-unit property located at 1825 Carrington Oaks Drive, Charlotte. Built in 2004.

Information on the six properties is available by calling Michael Kemether (404-853-5269) or Brandon Whitesell (404-853-5200), and by visiting apartments.cushwake.com or Auction.com

Cushman & Wakefield is the world's largest privately-held commercial real estate services firm. Founded in 1917, it has 235 offices in 60 countries and more than 13,000 employees. The firm represents a diverse customer base ranging from small businesses to Fortune 500 companies. It offers a complete range of services within five primary disciplines: Transaction Services, including tenant and landlord representation in office, industrial and retail real estate; Capital Markets, including property sales, investment management, investment banking, debt and equity financing; Corporate Occupier & Investor Services, including integrated real estate strategies for large corporations and property owners; Consulting Services, including business and real estate consulting; and Valuation & Advisory, including appraisals, highest and best use analysis, dispute resolution and litigation support, along with specialized expertise in various industry sectors. A recognized leader in global real estate research, the firm publishes a broad array of proprietary reports available on its online Knowledge Center at www.cushmanwakefield.com

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