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BLACKSBURG, VA-Terrace View Apartments, a 756-unit, 1,720-bed student housing community near Virginia Tech has traded for $76.2 million. The seller was a joint venture between Iconic Development and Wheelock Street Capital. MCS Capital Partners purchased the asset and assumed an existing Fannie Mae loan. HFF brokered the transaction.

Located at 413 Hunt Club Road, Terrace View Apartments is within walking distance to the Virginia Tech campus. The fully-leased property delivered in nine phases and has 81 buildings with one-through four-bedroom townhomes and flats averaging 938 square feet each.

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