Marcus & Millichap Arranges $20.9 Million Sale of 251-Bed Student Housing Portfolio Near Wake Forest

The Deacon Properties portfolio is located within walking distance of Wake Forest University in Winston-Salem. The Deacon Properties portfolio is located within walking distance of Wake Forest University in Winston-Salem.

Winston-Salem, N.C. — Marcus & Millichap has arranged the $20.9 million sale of Deacon Properties, a 64-home, 251-bed student housing portfolio located near Wake Forest University in Winston-Salem.

Nate McDaniel, Allen Smith and Ian Turnbull of Marcus & Millichap represented the seller, Deacon Rental Properties, and procured the buyer, Mission Bay Investments, in the transaction. The portfolio features three- and four-bedroom homes ranging from 1,800 to 2,100 square feet.

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