Roanoke apartment community sold for $2.8 million
JC Capital Management LLC has purchased Totera Ridge Apartments in Southeast Roanoke for $2.8 million.
The 8.4-acre, 90-unit garden apartment community is located on Rutrough Road.
JC Capital Management is an investment syndication group specializing in value-add multifamily properties. The company plans to make improvements to the property.
S. Clay Taylor, Jason Fountain, and Matt Zimmerman of Waldvogel Commercial Properties assisted JC Capital in the transaction.
According to a statement from Taylor, value‐add opportunities such as this one are becoming scarce within the market. “Insatiable demand for multifamily investment coupled with the strong real estate fundamentals in Roanoke has generated a very competitive landscape for mid-sized and larger assets. Ultimately, the flow of capital into these properties from both local and non-local investors is good for Roanoke, and we are pleased to be a part of it.”