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Greysteel Arranges Sale of Senior Housing in Virginia
Greysteel has completed the sale of Mary Hardesty House, a 60-unit senior community located at 218 Mosby Boulevard in Berryville, Virginia.
The property, which was developed using Low-Income Housing Tax Credit (LIHTC) financing, is encumbered by a long-term use agreement for the property to be Affordable Housing. The property was acquired by Community Housing Partners for $5.85 million.
Fletcher Hultman, Justin Mazzamaro, and Henry Mathies of Greysteel’s National Affordable Housing practice group exclusively represented the seller The Wentwood Companies. Mary Hardesty House is ideally located in the northern Virginia town of Berryville, about 65 miles northwest of Washington, D.C.
“We received strong investor interest in this property because it didn’t have any major deferred maintenance or operational challenges,” said Fletcher Hultman, Director of Mid-Atlantic Affordable Housing sales at Greysteel. “This acquisition allows Community Housing Partners to achieve operational scale in this market as they also own a nearby property.”
