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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