Capstone Brokers $2.1M Sale of Two Apartment Communities in Roanoke

ROANOKE, VA. — Capstone Apartment Partners has brokered the sale of two apartment communities in Roanoke known as Carefree Place and Ellsworth Place. Mid Atlantic Funding LLC purchased both properties from Rapp Properties LLC for $2.1 million, or $52,500 per unit. The communities had an average occupancy rate of 98 percent at the time of sale. Todd Conner and Beau McIntosh of Capstone represented Rapp Properties in the transaction.