Mexico City Investor Buys Manassas Park Apartments For $52M, Its Second D.C.-Area Acquisition This Year
Mexico City-based Hasta Capital has made its second $50M-plus multifamily acquisition in the D.C. suburbs this year.
The investor bought The Residences at City Center, a 291-unit community in Manassas Park, for $51.5M. HFF's Walter Coker, Brian Crivella and Dek Potts brokered the deal.
The property at 170 Market St. features 44K SF of ground-floor retail. It sits across the street from the Manassas Park station on the Virginia Railway Express. Amenities include an outdoor pool with a lounge area and grilling station, a fitness center, a clubhouse and a business center.
Hasta, founded in late 2016 by two former Greystar executives, is focused on ground-up multifamily development in Mexico and acquiring properties in the U.S. The acquisition comes after Hasta in January bought a 318-unit apartment building near the under-construction Largo Medical Center in Prince George's County. That deal, which did not have a disclosed price at the time of the announcement, sold for $72.85M, property records show. It also acquired a 376-unit apartment property in Frederick, Maryland, last year.
