Greysteel, a national commercial real estate investment services firm, has been named exclusive advisor and agent for the sale of Worthington Woods, a garden-style multifamily community located in Washington, DC.
Greysteel Managing Director Kyle Tangney and Senior Investment Associate Alicia Orkisz, of the Company’s Washington, DC office, are marketing the property.
The 394-unit property is located at 4419 3rd Street, SE, Washington, DC. Constructed in 1944, Worthington Woods was fully placed-in-service under the Section 42 Low Income Housing Tax Credit (LIHTC) program in 2002 and reserves units for residents whose income does not exceed 60% of the Area Median Income (AMI).
The property’s location in Southeast Washington, DC is convenient to many major public and private employment centers, including Joint Base Anacostia-Bolling, Andrews Air Force Base, MGM National Harbor, and Suitland Federal Center, driving demand among residents who wish to live close to their work.
“Worthington Woods is Washington’s largest tax credit acquisition/rehab opportunity,” said Ms. Orkisz. “Not only is it unique in scale, but the District offers more soft funds per capita than any other city in the country through its renewable Housing Production Trust Fund.”
Greysteel is a commercial real estate and capital markets services firm with nine offices located in Phoenix, AZ; Los Angeles, CA; Washington, D.C.; Baltimore, MD; New York, NY; Philadelphia, PA; Dallas, TX; Fort Worth, TX; and Norfolk, VA. Greysteel serves and advises private and institutional real estate investors and developers in the marketing, sale, and financing of private capital and middle-market real estate assets. www.greysteel.com