Cushman & Wakefield arranges three-property portfolio sale for McDowell Properties

Kentucky and Mississippi properties total 697 units


Fairways at Hartland located in Bowling Green, Kentucky

The DeSoto in Horn Lake, Mississippi

Cushman & Wakefield has arranged the sale of a three-property, 697-unit portfolio located in Kentucky and Mississippi. Jimmy Adams, Robbie O’Bryan, and Craig Collins of Cushman & Wakefield represented the seller, McDowell Properties, in the transaction. Covenant Capital Group acquired 240-unit Fairways at Hartland located in Bowling Green, Kentucky. Timberland Partners acquired 204-unit Savannah Creek in Southaven, Mississippi, and 253-unit The DeSoto in Horn Lake, Mississippi.

“Current ownership has successfully tested value-add viability throughout the properties,” O’Bryan said. “These assets and the buyers will benefit tremendously with continued focus on the current renovation programs.”

Built between 1989 and 1995, the assets are located in high-growth markets with exceptional employment gains and expanding key industries. They are also within minutes of quality retail and surrounded by dense job cores.

Cushman & Wakefield’s Southeast Multifamily Advisory Group ranked No. 1 in market share in 2018 based on closed transactions, totaling more than $4.5 billion in sales volume, according to Real Capital Analytics.

About Cushman & Wakefield

Cushman & Wakefield 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 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services.