WYTHEVILLE, VIRGINIA: Cushman & Wakefield | Thalhimer’s Capital Markets Group represented the seller, Smith Enterprises, in the marketing and sale of Birchwood Apartments and AAA Self Storage to Deal Properties for $4,200,0000. The transaction, which closed on May 14, included 60 apartment units, 139 self-storage units, and an 1,800 square foot free-standing office building on multiple adjoining tax parcels located at 125 – 195 Birch Drive in Wytheville, Virginia. 

Clay Taylor, CCIM with Cushman & Wakefield | Thalhimer’s Capital Markets Group handled the sale negotiations on behalf of the seller. 

According to Taylor, Deal Properties was selected by the seller from a competitive field of buyers based on the company’s multifamily experience and proven ability to perform. 

“As signs of recovery from the pandemic emerge, demand for multifamily properties in this region remains insatiable based on strong underlying fundamentals coupled with a low interest rate environment,” said Taylor. “With more investors pursuing multifamily acquisitions nationwide, the upward pricing pressure is pushing investors into smaller markets than they would have previously considered in search of yield.”