Thursday, June 6, 2013

Greysteel’s Multifamily Practice Group Led by Ari Firoozabadi Sells Oak Knolls Realty Corp. in Fairfax, VA

  


                          Oak Knoll Apartments, 3979 Oak Street, Fairfax, VA


Ari Firoozabadi
Fairfax, VA – Greysteel, a leading Washington, D.C. based real estate investment services firm has directed the sale of Oak Knolls Realty Corp. for $10,000,000.

Oak Knolls Realty Corp. a Florida S corporation, sole asset was a 110 – unit garden style apartment community located at 3979 Oak Street in Fairfax, Virginia.

Greysteel’s multifamily team led by Ari Firoozabadi, John Mullen, Kyle Tangney, Henry Schuldinger and Caleb Brown served as exclusive agent and advisor to Capital Investment Advisors LLC.


John Mullen
 “In a deal whereby we purchased the shares of an S corporation, Oak Knolls had a lot of moving parts and required a great amount of attention to get closed,” said Rebecca Pelino, managing member of Capital Investment Advisors LLC. “Greysteel provided ‘white glove’ service with the utmost responsiveness to overcome significant obstacles to consummate the deal,” continued Ms. Pelino.    


Oak Knolls is a well-located, multifamily community with tremendous upside through rezoning and redevelopment into at least 220 Class A units.

Henry Schuldinger
The City of Fairfax, 2012 comprehensive plan encourages improvement or replacement of aging housing stock and neighborhood revitalization, which Oak Knolls may be a part of in the near future. Under the comprehensive plan, Oak Knolls would be designated as “residential high”, enabling for higher density than currently permitted by right.

Greysteel served as exclusive agent and advisor to Capital Investment Advisors LLC.

For a complete copy of the company’s news release, please contact:

Christine McCary
202.280.2715

The Greysteel Company
7735 Old Georgetown Road, Suite 301
Bethesda, Maryland 20814
202.280.2722

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