Cushman & Wakefield arranges $504.5 million sale of multifamily portfolio on behalf of Threshold Capital and BMA Capital LLC

Morgan Properties and Peak Capital Partners acquire 31-property portfolio

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Woodbrook
Cushman & Wakefield arranged the $504.5 million sale of a 31-property multifamily portfolio in North Carolina and South Carolina.

Cushman & Wakefield has arranged the $504.5 million sale of a 31-property multifamily portfolio totaling 5,115 units located in North Carolina and South Carolina. Marc Robinson and Brooks Colquitt represented the sellers while Jacquelyn Aaron led the transaction management. Morgan Properties and Peak Capital Partners acquired the properties from Threshold Capital and BMA Capital LLC.

“This 31-property transaction underscores the resiliency of Capital Markets, particularly across the Carolinas region,” Robinson said. “The process was initiated in the depths of a pandemic, received notable interest from multiple investors, and resulted in a smooth execution for the seller and buyers.”

Threshold Capital spent a number of years systematically building a portfolio of value-add properties in the Carolinas, largely built by the same developer between 1975 and 2005.

The properties include 28 in North Carolina and three in South Carolina. Morgan Properties added 19 properties with 3,256 units to their investment portfolio, while Peak Capital Partners acquired 12 properties with 1,859 units.

Cushman & Wakefield’s Sunbelt Multifamily Advisory Group ranks No. 1 in Sunbelt market share based on over 300 transactions and $7.0 billion in multifamily and land investment sales in 2019 (Source: Real Capital Analytics). Market share reflects sales for Alabama, Arkansas, Northwest Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Texas.