Newton Towers in Washington, D.C.

Greysteel Arranges $48.1 Million Sale of Four-Property Portfolio in Washington, D.C.

by Channing Hamilton

WASHINGTON, D.C. — Greysteel has negotiated the $48.1 million sale of a four-property portfolio in Washington, D.C. American Housing was the buyer, while the sellers were locally based real estate investors. Greysteel represented the sellers in the separate transactions, which were completed through D.C.’s Tenant Opportunity to Purchase Act.

The portfolio includes Newton Towers, a 56-unit community located in the Columbia Heights neighborhood; The Park Regent, a 96-unit property in Mount Pleasant; an unnamed 28-unit building located at 3654 New Hampshire Avenue; and a 43-unit building located in Penn Quarter. Newton Towers was sold for $13.1 million. The Park Regent traded for $20 million.

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