Osprey Property Cos. has sold Victoria Park at Walkersville, an 80–unit affordable senior community in Walkersville, Md. The community, restricted to residents aged 62 and over, traded for $10.2 million. Greysteel negotiated the deal on behalf of the seller.
Located at 105 Sandstone Drive, Victoria Park at Walkersville was developed with Low-Income Housing Tax Credit funds in 2008. The three-story building features one- and two-bedroom floorplans averaging 879 square feet. Amenities include a fitness center, business center and theater room.
The 4.6-acre property is nearly 7 miles northeast of downtown Frederick, Md., across from Walkers Village Shopping Center that also includes a bus stop. Heritage Farm Park is 1 mile north of the community.
Greysteel President & CEO Ari Firoozabadi, Director Henry Mathies and Investment Associate Fletcher Hultman represented the seller in the transaction. Firoozabadi and Mathies also assisted Osprey and joint venture partner Pax-Edwards in the sale of a Baltimore age-restricted community in November.