WALDORF, Md. — Greysteel has arranged the sale of Victoria Park Jaycees, a 60-unit affordable seniors housing community in Waldorf, approximately 25 miles south of Washington, D.C.
Ari Firoozabadi and Henry Mathies from the firm’s D.C. office represented the seller, Osprey Property Cos. An undisclosed buyer paid $5.8 million for the community.
Victoria Park Jaycees was completed in 2003 using Section 42 Low-Income Housing Tax Credits. Eight are set aside for residents making up to 30 percent area median imcome (AMI), 16 units at 40 percent AMI, 20 at 50 percent AMI, and 16 at 60 percent AMI. The remaining nine units are covered by the HOME Investment Partnership program.
The existing operator will continue to manage the property.