REBusinessOnline

Greysteel Arranges $24.7M Sale of Multifamily Property in Newark, Delaware

NEWARK, DEL. — Greysteel has arranged the $24.7 million sale of The Vinings at Christiana, a 220unit multifamily property in Newark, located approximately 40 miles southwest of Philadelphia. The property comprises a mix of one-, two- and three-bedroom units, 125 of which are reserved for tenants earning 60 percent or less of the area median income, while the remaining 95 are rented at market rates. Ari Firoozabadi and Henry Mathies of Greysteel represented the seller, Alden Torch Financial, in the transaction. The team also procured the buyer, CAPREIT.

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