Southeast

WASHINGTON, D.C. — Greeysteel, a Washington, D.C.-based investment real estate services firm, has arranged the approximately $3.6 million sale of the 23-unit Delshah Valery Place, a boutique, walk-up apartment community located in Washington, D.C. The apartment community is situated at 2523 13th St. in northwest D.C.'s Columbia Heights neighborhood. Ari Firoozabadi, Kyle Tangney, John Mullen, Caleb Brown and Lance Ahmadian of Greeysteel arranged the transaction between the seller, Manhattan-based Delshah Capital, and the buyer, New York City-based Aria Investment Group. Delshah Capital purchased the community five years ago and subsequently made renovations. According to Tangney, Delshah's focus has shifted to solely New York City acquisitions.

FAYETTEVILLE, ARK. — Inland American Communities Group Inc., a subsidiary of Inland American Real Estate Trust Inc., has acquired the Domain at Fayetteville, a 654-bed student housing community near the University of Arkansas, for $42 million. The property was recently completed and is fully leased for the 2013-2014 school year. The property is located within walking distance of the University of Arkansas campus on the university shuttle route. The property's amenities include a luxury clubhouse with a game room, 24-hour fitness center, resort-style pool, theater and an outdoor kitchen with grilling stations. The community will be rebranded as University House. In another recent transaction, Inland American Communities Group purchased HUB on Campus, a 640-bed student housing property near Arizona State University, for $103 million.

BIRMINGHAM, ALA. — Steadfast Income REIT has purchased Tapestry Park, a 223-unit apartment community located five miles east of downtown Birmingham, for $32.4 million. Tapesty Park is Steadfast Income REIT's first purchase in Alabama. The community opened in September 2012 and is currently 94 percent occupied. The property offers one-, two- and three-bedroom apartments with an average rent of $1,200 per month. Tapestry Park's amenity package includes a resort-style swimming pool, WiFi hotspots, a spa, 24-hour fitness center, outdoor fireplace with a lounge, clubhouse with a media center, barbecue area and a dog park. The interior of the units features stainless steel appliances, washer/dryers, nine-foot ceilings, faux wood flooring, granite countertops and private balconies and patios.