August 21, 2017, Hyattsville, MD – Greysteel, a national commercial real estate investment services firm, has arranged the sale of Courtyard Park, a multifamily community located in Hyattsville, MD.

The $10.3 million transaction was negotiated by Greysteel Managing Director Kyle Tangney and Investment Associate Herbert Schwat, of the Company’s Washington, D.C. office, and Senior Investment Associate Ari Azarbarzin, of the Company’s Baltimore, MD office.

The property, consisting of seven, four-story buildings, located at 4201-4213 Oglethorpe Street, was constructed in 1948 and totals 94 units. Courtyard Park benefits from direct access to both downtown Washington, D.C. and the University of Maryland and is located near a wide selection of restaurants, retail stores, and services, such as Regal Cinemas, Chipotle, YES! Organic Market, and Macy’s.

“We were able to generate a tremendous amount of interest for the owner by highlighting the continuing development near the community including the promised Purple Line Metro Station, Prince George’s Plaza Transit District Development Plan and a newly delivered Whole Foods,” said Mr. Tangney. “Courtyard Park’s desirable location, lifestyle amenities and affordability presented a value-add, long term growth opportunity.”

About Greysteel:
Greysteel is a commercial real estate and capital markets services firm with nine offices located in Phoenix, AZ; Los Angeles, CA; Denver, CO; 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.