Clay Taylor - Virginia Multifamily Specialist

12/23/2025

Cushman & Wakefield | Thalhimer’s Capital Markets Group, in conjunction with Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group, is pleased to announce the sale of Terrace Apartments, a 187-unit affordable apartment community in Roanoke, Virginia.

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 Avenue SW. Both properties are situated in the highly desirable Raleigh Court neighborhood of Southwest Roanoke City, near Grandin Village, one of the region’s premier mixed-use village centers. The community provides essential affordable housing and is governed by long-term affordability covenants under the Low Income Housing Tax Credit (LIHTC) program.

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

11/12/2025

Cushman & Wakefield | Thalhimer’s Capital Markets Group is pleased to announce the sale of a three-building multifamily assemblage totaling twelve apartment units located at 800–806 Kerner Avenue and 801–815 Roanoke Boulevard in Salem, Virginia.

Situated within walking distance of the Salem Civic Center and Carilion Clinic Field at Salem Memorial Ballpark, home of the Salem Red Sox, the properties feature an attractive mix of one- and two-bedroom apartments well positioned for value-add renovations.

Mid Atlantic Funding, LLC acquired the portfolio on October 29, 2025, from Bandy-King Properties, L.L.C. for $1,324,575.

Clay Taylor with Cushman & Wakefield | Thalhimer’s Capital Markets Group and Briggs Cooper, also with Thalhimer, represented the buyer in the transaction.

10/16/2025

Cushman & Wakefield | Thalhimer’s Capital Markets Group is pleased to announce the sale of Walnut Knoll Apartments, located at 501 Walnut Avenue SE in Roanoke, Virginia.

Situated at the base of Mill Mountain and the iconic Mill Mountain Star, Walnut Knoll offers a walkable location to downtown Roanoke and Carilion Clinic’s medical and research campus. The property features 18 one-bedroom, one-bath apartments in an attractive, well-maintained setting.

Clay Taylor with Cushman & Wakefield | Thalhimer’s Capital Markets Group and Briggs Cooper, also with Thalhimer, handled marketing and sale negotiations on behalf of the seller.

07/28/2025

Cushman & Wakefield | Thalhimer’s Capital Markets Group is pleased to announce the $6,269,000 sale of a two-property, 66-unit multifamily portfolio located in the Roanoke, Virginia MSA.

The portfolio includes Stonegate Manor Apartments (34 units) in Salem, VA and Hounds Chase Apartments (32 units) in Roanoke, VA.

06/18/2025

2025 is looking to be a good year for multifamily with over $15 million in multifamily closings across Southwest Virginia over the past two months — and more to come. I’m thankful for the hard work, collaboration, and commitment to results from everyone involved.

If you're looking for your next multifamily investment in this region, let’s connect — the pipeline is active.

• The View at 777 (Salem, VA) — 72 units, sold for $8.91M, setting a new benchmark in Southwest Virginia for a property of this vintage at $123,800 per unit. The sale followed a successful marketing campaign and a highly competitive offering process.

• Summercrest Apartments (Waynesboro, VA) — 90 units, sold for $6.4M in an off-market transaction, representing a compelling value-add opportunity for the buyer.

11/13/2023

Frontier Apartments - 194 Units (Roanoke, VA)
OFFERS DUE THURS NOV. 16 - TOURS STILL AVAILABLE

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Cushman & Wakefield | Thalhimer's Capital Markets Group, in conjunction with Cushman & Wakefield's Mid-Atlantic Multifamily Advisory Group is pleased to present Frontier Apartments – a proven value-add apartment community offering immediate scale in the expanding Roanoke, Virginia market. Over $1 billion in capital has been invested in research and medical facilities in Roanoke over the last decade. Furthermore, Wells Fargo recently announced an $87 million expansion of its corporate facility less than three miles from the property, bringing an additional 1,100 jobs to the area.

Strong economic performance has translated into an accelerating apartment market where rent growth nearly averaged 9% over the course of 2022 with sub-5% vacancy. Frontier Apartments has grown Gross Potential Rent by more than 10% over the prior 12 months, and a thoughtful renovation program at the property has consistently garnered rent premiums of $140 per month on average with the introduction of new countertops, backsplashes, luxury vinyl flooring, stainless steel appliances, and upgraded bathroom features. The property’s size (194 units) and scale within the market augments its broad investor appeal as it is well-suited to establish a first-time presence in Roanoke or complement an existing portfolio.

Frontier Apartments’ prime location within the growing Roanoke market and its clear path to proven upside will capture consistent cash flows and provide long-term value throughout market cycles for years to come.

11/29/2022

Thank you to the entire DSP Real Estate Capital team for the opportunity to work together with Stephen Karbelk on this meaningful multifamily acquisition for DSP in Roanoke, Virginia. I sincerely appreciate their confidence and trust as well as the help and hard work of all involved getting from contract to closing. It's always exciting to see an investment goal become a reality, and it's a privilege to be a part of it!

Cushman & Wakefield | Thalhimer’s Capital Markets Group is pleased to announce the sale of Countryside Estates, a 108-unit garden-style... Read More

10/02/2022

Honored to be part of this meaningful multifamily sale for Roanoke. Thank you to the seller for having confidence in our team's ability to execute during a volatile capital markets cycle and thank you to all involved for their hard work getting from contract to closing in under 60 days!

Cushman & Wakefield | Thalhimer’s Capital Markets Group, in conjunction with Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group, represented the... Read More

09/26/2021

I’m not always the most active on social media, but sometimes it’s important to take a moment to celebrate success and to say thank you to all those who have helped me along the way. In the past 60 days, I’ve had the opportunity to participate in over $20 million worth of real estate sales transactions. On behalf of Thalhimer’s Capital Markets Group, I’m honored to have served these clients and sincerely appreciate their business. I couldn’t have done this on my own, and I owe my success to the hard work of many. To all those have helped me along this journey, this post is for you. Thank you!! And to anyone considering a multifamily disposition in central or SWVA, know that investor demand has never been stronger in our region. Our team is in the perfect position to help, and we would love to speak with you. 804.819.9948

For more information, check out these publications from Virginia Business Magazine:

https://www.virginiabusiness.com/article/six-staunton-apartment-properties-sell-for-6-3m/

https://www.virginiabusiness.com/article/apartment-buildings-in-forest-sell-for-6-6m/

https://www.virginiabusiness.com/article/three-lynchburg-apartment-buildings-sell-for-8-2m/