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 Senior Director Richard Montana, Alex McDermott, Hunter Bowling, Rhodes Marley, and Paul Marley represented the seller. Greystone’s Senior Managing Director 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 in a press release.
Newly built in 2023, South Pointe at Wayside offers top-of-the-line market amenities and Class A finishes catered to residents. The multifamily property is also 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 in a press release.
To wrap up the first day, attendees were able to meet up for a social event at the Brad Halling American Whiskey Ko. in Southern Pines where a $10,000 check was presented to the Joint Special Operations Foundation for their scholarship fund. Photo pr
The three-story, 200,000 square-foot business incubator space is located at 420 Maiden Lane. The building features an elevator, construction has begun on handicap bathrooms for the first floor and the second and third floors feature window walls offering views of Segra Stadium.
Image provided by FTCCFocused on building the local workforce and streamlining the education process through real world learning, the Hope, Opportunity, Prosperity through Education Program at Fayetteville Technical Community College (FTCC), also kno
