WASHINGTON, DC – Holliday Fenoglio Fowler, L.P. (HFF) announces the $51.5 million sale of The Residences at City Center, a 291-unit apartment community with ground-floor retail in Manassas Park, Virginia.
The HFF team marketed the property on behalf of the seller, and procured the buyer, Mexico City-based HASTA Capital.
The Residences at City Center is located at 170 Market Street directly across from the Manassas Park Virginia Railway Express (VRE) station along Manassas Drive in Prince William County. The transit-oriented property is ideally positioned near the largest employment centers and major thoroughfares in the Northern Virginia region as well as an abundance of retail and entertainment options. The Residences at City Center comprises 255,608 square feet of residential space featuring high-quality, modern finishes and 43,708 square feet of ground-floor retail. Community amenities include an outdoor pool with lounge area and grill station, state-of-the-art fitness center, clubhouse, business center, Wi-Fi café and a mix of surface parking and single-car garages.
The HFF investment advisory team representing the seller included Walter Coker, Brian Crivella and Dek Potts.
About HASTA Capital: HASTA Capital is focused on the investment, development and management of residential multifamily rental assets in Latin America and the U.S. Headquartered in Mexico City, HASTA combines its specialized operational expertise, rigorous analytical methodology and meticulous attention to detail, sustainability and quality control to create world-class buildings and living environments that improve their cities and generate superior risk-adjusted returns for their investors.
About HFF: HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.