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Washington DC & Mid-Atlantic  + Senior Housing  |  September 21, 2020
David Cohen
By: David Cohen

Greysteel Brokers $27M Sale of Northern Virginia Seniors Housing Property

Greysteel has arranged the $27.2 million sale of Cascades Village Senior Apartments, an affordable seniors housing property in Sterling, VA.

Developed in 2001, the property is a 150-unit age-restricted affordable housing community located in Sterling, approximately 25 miles northwest of Washington D.C. The community was developed using Low-Income Housing Tax Credits (LIHTC).

Henry Mathies and Fletcher Hultman of Greysteel’s East Coast Affordable Housing unit represented the seller, a local private investor, in the transaction. The buyer was Avanath Capital Management. Additionally, the Greysteel team secured an acquisition loan for the buyer through M&T Realty Capital Corp.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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