The joint venture team of Cushman & Wakefield and Greystone announced that they arranged the sale of and provided acquisition financing for South Pointe at Wayside, a 192-unit multifamily community located in Raeford, North Carolina a city on the Southwestern edge of Fayetteville. The multifamily property was sold by Hackett Properties to buyer LBX Broadwill.
Cushman & Wakefield’s Richard Montana, Alex McDermott, Hunter Bowling, Rhodes Marley, and Paul Marley represented the seller. Greystone’s Brad Waite and Charlie Mentzer originated a five-year, fixed-rate Freddie Mac Optigo® loan featuring full-term interest only.
“South Pointe at Wayside is an attractive newly built community that arrived in the market despite all-time high construction costs. It is well-positioned in the Raeford market and has benefited from an incredibly strong lease-up. Our team looks forward to seeing this asset continue to thrive under the new ownership of LBX Broadwill,” said Montana, Senior Director at Cushman & Wakefield.
South Pointe at Wayside is strategically located in Raeford’s Health Corridor with a suburban advantage that provides easy access to top regional employers, the Skibo Road retail corridor, Cross Creek Mall and Downtown Fayetteville.
“Congratulations to LBX Broadwill on their acquisition of South Pointe at Wayside, an exceptional asset that is poised for growth. This transaction represents the complete capabilities of our combined platforms in the Sunbelt,” added Waite, Senior Managing Director at Greystone.
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more.
Greystone is a private national commercial real estate finance company with an established reputation as a leader in multifamily and healthcare finance, having ranked as a top FHA, Fannie Mae, and Freddie Mac lender in these sectors. Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates.
