{"id":1004123298,"date":"2015-07-15T03:21:50","date_gmt":"2015-07-15T11:21:50","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=354852"},"modified":"2020-04-30T07:21:04","modified_gmt":"2020-04-30T15:21:04","slug":"greater-washington-apartment-market-under-investor-siege","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/greater-washington-apartment-market-under-investor-siege\/","title":{"rendered":"Greater Washington Apartment Market Under Investor Siege"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Adrian Maties, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/07\/Henson-Creek-Manor.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-354875\" title=\"Henson Creek Manor\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/07\/Henson-Creek-Manor.jpg\" alt=\"Henson Creek Manor\" width=\"300\" height=\"203\" \/><\/a>Hardly a week goes by without at least one multifamily transaction in the Greater Washington area. Henson Creek Manor, an affordable apartments community in Fort Washington, is the latest property to change hands.<\/p>\n<p style=\"text-align: justify;\">Greysteel announced the sale. The company\u2019s Mid-Atlantic multifamily investment sales team \u2014\u00a0which included Ari Firoozabadi, John Mullen, W. Kyle Tangney, Lance Ahmadian, Mike Bediones, Jake Ying and Alicia Orkisz \u2014\u00a0represented the sellers, Humphrey Management and Boston Capital. AMAC Holdings, a nationally focused real estate investment company, was the buyer. The price of the transaction was not disclosed.<\/p>\n<div id=\"attachment_354874\" class=\"wp-caption alignleft\" style=\"width: 250px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/07\/John-Mullen.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-354874 \" title=\"John Mullen\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/07\/John-Mullen.jpg\" alt=\"John Mullen\" width=\"240\" height=\"214\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">John Mullen<\/p>\n<\/div>\n<p style=\"text-align: justify;\">Henson Creek Manor is a Low Income Housing Tax Credit community located at 5201\u20135301 Haras Place, close to shopping, restaurants, schools and employment centers such as Joint Base Andrews, Joint Base Anacostia-Bolling and the Suitland Federal Center. It comprises 210 units, with two- and three-bedroom floor plans. The apartments offer large bathrooms and kitchens, dishwashers, patios, walk-in closets and many other features. Additionally, community amenities include a swimming pool, community room, playground and ample parking.<\/p>\n<p style=\"text-align: justify;\">The new owner did not reveal what it plans to do next with the Prince George\u2019s County property. In a news release, Greysteel Senior Director John Mullen said that Henson Creek Manor is the submarket\u2019s only &#8217;90s-built product. This means that through the implementation of a renovation program, AMAC Holdings can achieve maximum allowable rents.<\/p>\n<p style=\"text-align: justify;\">\u201cAffordability covenants under the Low Income Housing Tax Credit program have allowed the property to enjoy consistently high rental demand, which will be further bolstered as unit interiors are upgraded and the impacts of major area developments, such as MGM National Harbor and Saint Elizabeth\u2019s, hit the submarket,\u201d Mullen added.<\/p>\n<p style=\"text-align: justify;\">Photos courtesy of <a href=\"https:\/\/www.greysteel.com\" target=\"_blank\" rel=\"nofollow\">The Greysteel Co<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hardly a week goes by without at least one multifamily transaction in the Greater Washington area. Henson Creek Manor, an affordable apartments community in Fort Washington, is the latest property to change hands.<\/p>\n","protected":false},"author":925,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1615],"tags":[],"class_list":["post-1004123298","post","type-post","status-publish","format-standard","hentry","category-latest","category-washington-dc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Greater Washington Apartment Market Under Investor Siege - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/greater-washington-apartment-market-under-investor-siege\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Greater Washington Apartment Market Under Investor Siege\" \/>\n<meta property=\"og:description\" content=\"Hardly a week goes by without at least one multifamily transaction in the Greater Washington area. 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