M id A tlantic Real Estate Journal — Owners, Developers & Managers — March 19 - April 15, 2021 — 9A


O wners , D evelopers & M anagers

Mathies and Hultman broker transaction Greysteel facilitates sale of 53-unit Section 8 property in Petersburg, VA


it was built. The complex na- ture of the affordable housing component required a buyer sophisticated enough to ma- neuver through the regulatory elements to remain compliant and continue to provide qual- ity housing for low-income households.” “The seller’s diligent stew- ardship of the property, and its well-maintained physical condition created a material tailwind during the market- ing process, which ultimately yielded several attractive of- fers,” said Mathies. Landmark is a community

originally developed in 1983 using the U.S. Dept. of Hous- ing and Urban Development’s (HUD) Project-Based Sec- tion 8 program for subsidized housing. The buyer, Mercer Street Partners, acquired the property subject to its existing contract with HUD, and will continue to operate the prop- erty as affordable housing. Landmark Apartments is Greysteel’s second multifamily affordable housing transaction in the Richmond area in the last year; in July 2020 Greysteel arranged the sale of McGuire Park Apartments. MAREJ

ETERSBURG, VA – Greysteel , a national commercial real estate

investment s e r v i c e s firm, has ar - ranged the sale of Land- mark Apart- ments, a 53- unit afford- able housing property in Petersburg, VA. Senior di- rector, Hen- ry Mathies and senior a s s o c i a t e , F l e t c h e r Hultman of Greysteel ’s

Henry Mathies

Landmark Apartments

Fletcher Hultman

East Coast Affordable Hous- ing group represented the seller and procured the buyer. The property sold for $2.867M. Hultman said, “The seller was the long-time owner of the property, and related to its original developer; they had successfully maintained and operated the property since Grant selected for Department of Defense contract at the Philadelphia Navy Yard PHILADELPHIA, PA — The Department of De- fense, Philadelphia Divi- sion of the Naval Surface Warfare Center (NSWC) again selected Grant Inte- grative FacilitiesManage- ment (Grant) to provide coronavirus mitigation and elimination services at sev- eral facilities in the Philadel- phia Navy Yard. Grant will provide compre- hensive temperature screen- ing and ancillary coronavirus disinfecting services for at least six NSWC buildings. “Earning the respect and trust of our clients is Prior- ity No. 1 and being selected for repeat assignments is the surest confirmation of that success,” said Jim Grant , owner and founder of Grant. “As the world continues fighting this pandemic, our firm takes great pride in pro - viding the best solutions to ensure the health and safety of the men and women enter- ing the facilities at the Navy Yard.” MAREJ

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