Greysteel, a leading commercial real estate investment sales and debt and structured finance advisory firm, announced the sale of Riverwalk Townhomes, a fully affordable LIHTC community at 1001 E. Washington Street on Stephenville.
Built in 2004 and spanning fourteen acres, the property was developed and previously owned by Tejas Housing Group and stands as a vital source of stable, income-restricted housing for local families. With all units reserved under Low-Income Housing Tax Credit (LIHTC) guidelines, Riverwalk Townhomes offers a mix of 2-, 3-, and 4-bedroom townhomes, supporting affordability and stability in the Stephenville community.
Nationwide, investor demand for this asset class has heated up, driven by high occupancy, resilient cash flow, and limited new supply, all while fulfilling a critical social need.
“Affordable housing properties are at the top of many investors’ lists right now,” said Doug Banerjee, who represented both the buyer and the seller in the transaction. “Strong fundamentals—tight vacancy, stable returns, and the essential nature of the housing—make LIHTC communities like Riverwalk Townhomes stand out. These assets aren’t just weathering market shifts—they’re thriving because demand has never been higher.”
Greysteel is a premier commercial real estate investment sales and debt and structured finance advisory firm. Serving private and institutional investors across geographies and asset types, Greysteel provides a full spectrum of services, including investment sales, debt placement, equity placement, and distressed asset solutions. Founded on the principles of innovation, collaboration, and excellence, Greysteel is strategically positioned across the nation to deliver exceptional results through a seamless and comprehensive advisory platform.
