Cushman & Wakefield has arranged the $22.3 million sale of Southern Pines, a 352-unit apartment community located in Spartanburg, South Carolina. Tai Cohen, Jordan McCarley and Watson Bryant of Cushman & Wakefield represented the seller, Upstate Property Rentals, in the transaction. Represented by SVN Blackstream, Nakash Family Land Trust and Mendel Fischer acquired the property. Funding was provided through Eastern Union and Bancorp.

“Southern Pines is located along the commerce-rich I-85 corridor in the East-Spartanburg submarket, surrounded by global employers like BMW, making it a prime investment for new ownership to capitalize on the region’s tremendous growth,” Cohen said.

Perfectly located in East Spartanburg with very little supply, Southern Pines, built in 1976, is positioned for continued rent growth. Amenities include two swimming pools, a fenced dog park, fitness center and picnic and grilling areas.

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. For more information about Cushman & Wakefield’s Southeast Multifamily Advisory Group, visit https://multifamily.cushwake.com.

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) 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. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.