Greysteel, a national commercial real estate investment services firm, has arranged the sale of Parc Square Apartments, a multifamily property located in Alexandria, VA for $10.1 million.

This transaction was arranged by Greysteel President & CEO, Ari Firoozabadi; Senior Director, W. Kyle Tangney; Director, Rawles M. Wilcox; and Investment Associates, Alicia Orkisz and Herbert Schwat; who are all based in Greysteel’s Washington, D.C. office.

Parc Square Apartments, built in 1940, is a fully renovated garden-style multifamily property that totals 66 units and is located at 602-604 Notabene Drive, 3906 Old Dominion Boulevard, 3812 Old Dominion Boulevard, and 525-527 Four Mile Road. Units feature open floor plans, laminate flooring, walk-in closets, dishwashers, disposals, and washer/dryers in selected units.

The property’s prime location in Alexandria is in close proximity to Downtown Washington, D.C., the Pentagon, and Ronald Reagan National Airport. The planned development of a Metro station one mile away at Potomac Yard Center will make the property easily accessible for residents and provide further upside for investors. Residents enjoy a wealth of retail, dining, and grocery options in the surrounding area, as well as the nearby Potomac Yard Center and Fashion Centre at Pentagon City.

“The seller invested a million dollars in a comprehensive rehab, completely renovating all units and addressing all major capital items,” said Mr. Tangney. “Parc Square is positioned for immediate returns in one of Alexandria’s most transformative submarkets.”

About Greysteel:

Greysteel is a commercial real estate and capital markets services firm with eight offices located in Phoenix, AZ; Los Angeles, CA; Washington, D.C.; Baltimore, MD; 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.