Cushman &Wakefield Thalhimer inks $7 Million sale

ROANOKE, VA — Cushman & Wakefield | Thalhimer’s Capital Markets Group, in conjunction with Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group, represented the seller, Terrace North, LP and Terrace South, LP, in the marketing and sale of Terrace Apartments, a 187-unit affordable apartment community in Roanoke.

Terrace Apartments consists of two properties: Terrace North, a 78-unit community located at 1540 Maiden Lane SW, and Terrace South, a 109-unit community located at 1532 Bluemont Ave. SW. B.

Negotiations on behalf of the seller were led by Clay Taylor of Cushman & Wakefield | Thalhimer’s Capital Markets Group, in collaboration with Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory team of Jorge Rosa and Anthony “TJ” Liberto, for a sale price of $7 million.

The buyer, Terrace Partners, LLC, consists of a group of investors with strong ties to the region.