Stonegate Manor LLC Acquires 66 Unit Multifamily Portfolio In Virginia For $6.27 Million

A 66-unit multifamily portfolio spanning two properties was sold for $6,269,000. This includes Stonegate Manor Apartments located at 821 Stonegate Drive in Salem and Hounds Chase Apartments at 101 Roberts Road Southwest in Roanoke, Virginia.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $6,269,000
• Units: 66
• Price Per Unit: $94,985
• Seller: D & J Associates
• Broker: Clay Taylor - Cushman & Wakefield

Stonegate Manor, LLC facilitated the acquisition of the multifamily properties, marking a notable transaction in the Salem and Roanoke markets. The sale took place on July 9, 2025, highlighting the continuing interest in multifamily investments in Virginia.