UPPER MARLBORO, MD. — Greysteel has brokered the sale of Largo Center Apartments, a 100-unit apartment community located in Upper Marlboro, part of metro Washington, D.C. The transit-oriented, affordable apartment community is located at 520 Largo Center Drive, within walking distance to Largo Town Center Metro Station and Boulevard at Capital Center. Ari Firoozabadi, John Mullen, Kyle Tangney, Lance Ahmadian, Caleb Brown and Mike Bediones of Greysteel represented the sellers, Boston Capital and Humphrey-Stavrou Associates Inc., in the transaction. Beachwold Residential purchased the Largo Center Apartments.
SUITLAND, MD. — Washington, D.C.-based Greysteel has brokered the sale of Regency Court Apartments, a 115-unit walk up apartment community in Suitland. The multifamily property is located near the Suitland Federal Center, Andrew Air Force Base and is across the street from the Suitland Metro Station. Ari Firoozabadi, John Mullen, Kyle Tangney, Caleb Brown, Lance Ahmadian and Mike Bediones of Greeysteel represented the seller, Miles-Suitland LLC, in the transaction. Regency Court DNB LLC was the buyer.
WASHINGTON, D.C. — Greysteel, a Washington, D.C.-based investment real estate services firm, has arranged the sale of a two-building, midrise portfolio containing 92 apartments and one ground-floor retail unit. The portfolio is located at 7611 and 7701 Georgia Ave. N.W. in northwest D.C., one block from Silver Spring, Md. Ari Firoozabadi, Kyle Tangney, John Mullen, Caleb Brown and Lance Ahmadian represented the seller, BBS Associates, in the transaction. The buyer was WC Smith, a generational family-operated real estate company based in D.C.
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.
FAIRFAX, VA. — Washington, D.C.-based Greysteel has negotiated the sale of Oak Knolls Realty Corp. for $10 million. Oak Knolls Realty Corp. is a Florida S corporation that controls a single asset, the Oak Knolls apartment community, which is located at 3979 Oak St. in Fairfax. The community currently contains 110 units, but the City of Fairfax recently released a comprehensive plan that encourages the rezoning of the property for high-density residential development. The Greysteel team of Ari Firoozabadi, John Mullen, Kyle Tangney, Henry Schuldinger and Caleb Brown represented the buyer, Capital Investment Advisors.
WASHINGTON, D.C. — The 61-unit Terrace Manor Apartments, a garden-style apartment community, has sold in Washington, D.C. Ari Firoozabadi, John Mullen, Kyle Tangney, Henry Schuldinger and Caleb Brown of Washington, D.C.-based Greysteel Co. represented the seller, Hastings Development Corp., in the transaction. Sanford Capital LLC purchased the multifamily property.
WASHINGTON, D.C. — Washington, D.C.-based Greysteel, a real estate investment services firm, has brokered the $1.6 million sale of 1702 16th St. N.W. in Washington, D.C. The eight-unit boutique apartment building in Washington, D.C.’s Dupont Circle sold to an unlisted cash purchaser. Ari Firoozabadi, Kyle Tangney, John Mullen, Henry Schuldinger and Caleb Brown of Greysteel represented the seller, Kerner Development LLC.
CLEARWATER, FLA. — The 172,596-square-foot Bayside Bridge Plaza, a grocery-anchored shopping center located at the intersection of McMullen Booth and Coachman roads in Clearwater, has traded for $17.25 million. An affiliate of Montreal, Canada-based Dalfen America Corp. sold the retail property to an affiliate of Hallandale, Fla.-based Isram Group of Companies. Bayside Bridge Plaza was built in 1989 and renovated in 2004 and 2010. A 42,112-square-foot Publix anchors the property, which is 91 percent leased. Other tenants include Family Fitness, Gatti Town Restaurant, Dollar Tree, Pet Supplies Plus and Ace Hardware. Casey Rosen, Dennis Carson and Nikolas Kozy of CBRE represented the seller in the transaction.
PIKESVILLE, MD. — Greysteel has arranged the $64.7 million sale of the 255-unit Residence at Waterstone, a multifamily property located at 225 Galvariun Court in Pikesville. Amenities include a resort-style swimming pool, theater/media room, fitness center, aerobics/yoga room, lighted tennis courts, library and business center. Ari Firoozabadi, John Mullen, Kyle Tangney, Henry Schuldinger and Caleb Brown of Greysteel represented Pacific Urban Residential, the seller, in the transaction. KBS Legacy Partners was the buyer.
RICHMOND, VA. — The Greysteel Company has arranged the $28.6 million sale of the 296-unit Essex Village Apartments, located at 105 Engleside Drive in Richmond. Amenities include laundry facilities, a playground and a basketball court. Ari Firoozabadi, John Mullen, Kyle Tangney, Henry Schuldinger and Caleb Brown of Greysteel represented the sellers, Federal Capital Partners and St. Charles Co. The buyer was GH Capital.