Greenbelt Station Sold for More Than $26 Million

The Roseview Group, a private real estate investment and advisory firm, announced today the sale, on behalf of a bank advisory client, of an 87-acre mixed-use site featuring approvals for up to 1,022 residential units in Greenbelt, Maryland. 

This shovel-ready infill site, located between the beltway and MD-193, is adjacent to the Greenbelt WMATA Commuter Rail station and features a newly constructed four lane bridge providing exclusive access to MD-193.

Known as Greenbelt Station, this partially completed development consists of three phases of townhomes, apartments, condominiums and retail.

“Prince George’s County and the City of Greenbelt are committed to quality developments in high profile multi-modal transportation locations," Jeff Ludwig, one of the seller's brokers, said in a press release. "This was always a smart growth project with bike paths, smart cars, shuttles, nature trails and direct access to the metro."

"When combined with significant environmental remediation work, Greenbelt Station became a poster child for the type of thoughtful, sustainable development the County and City want to see developed," Ludwig added.

The sale closed on February 27, 2013 at a price of $26.575 million.

This article was submitted by Kristin Wetherbee, Assistant Account Executive of Solomon McCown & Company.