Greysteel, a national commercial real estate investment services firm, has been named exclusive advisor and agent for the sale of Portside Apartments, a garden-style multifamily community located in Dundalk, MD.

Greysteel President & CEO, Ari Firoozabadi and Senior Investment Associate Alicia Orkisz, of the Company’s Washington, DC office, are marketing the property.

The 150-unit property is located off of Dundalk Avenue, the town’s major thoroughfare, and is within the first inner-ring suburbs of Baltimore. Constructed in 1948, Portside Apartments was placed-in-service under the Section 42 Low Income Housing Tax Credit (LIHTC) program in 2007 and has benefited from a comprehensive rehab to units and capital items.

The property is conveniently located between I-95 and I-695, providing residents easy access to major employers, shopping, dining, and entertainment throughout Downtown Baltimore and the Greater Baltimore-Washington Metropolitan Area.

“Portside was rehabbed with a nine percent credit award, so the improvement level of the units and amenity package is top of the submarket,” said Ms. Orkisz. “With market rents well below maximum allowable LIHTC rent levels, this is an excellent yield and preservation opportunity for investors.”

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. www.greysteel.com