Osprey Sells Maryland Affordable Senior Asset

Greysteel negotiated the disposition of an 80-unit community restricted to residents aged 62 and over.
Victoria Park at Walkersville
Victoria Park at Walkersville. Image courtesy of Greysteel

Osprey Property Cos. has sold Victoria Park at Walkersville, an 80unit 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.