Source: HASTA Capital / #Apartments #Multifamily
MEXICO CITY, MX - HASTA Capital, a real estate private equity firm focused on rental residential housing in Latin America, announced the launch of its operations. Led and co-founded by former Greystar senior executives, Mark Hafner and Rodrigo Suarez, HASTA is focused on the investment, development and property management of residential multifamily rental housing in Latin America. HASTA will be headquartered in Mexico while the firm also evaluates opportunities in multifamily rental, student housing and senior housing in South America.
“The multifamily rental sector has flourished in the U.S. for over a half century and today represents the largest component of institutional real estate investment in the U.S.,” said Mark Hafner, HASTA’s Chief Executive Officer. “Across Latin America, the multifamily rental sector is a nascent industry, however that is changing rapidly. Demographic and socioeconomic trends, a rapidly growing middle class and a deficit of quality housing are fueling robust demand for high quality urban rental housing. The multifamily industry is poised for exponential growth in Latin America and presents one of the most compelling investment opportunities in global real estate over the next decade.”
While at Greystar, the HASTA team built the first institutional rental residential platform in Latin America and were leaders in pioneering the rental residential sector in the region. Prior to founding HASTA, Mr. Hafner was Senior Managing Director at Greystar, the largest operator of rental apartments in the United States. During 12 years at Greystar, Hafner led the acquisition and development of over $9 Billion USD of multifamily rental and student housing properties and led Greystar’s international expansion into Europe and Latin America.
Mr. Suarez, the Chief Operating Officer of HASTA, will also lead the firm’s operations in Mexico. Prior to founding HASTA, Mr. Suarez was Managing Director of Greystar’s Latin American business where he oversaw all of Greystar’s development, investment and property management activities in the region. “We are incredibly excited by the potential of the asset class in Latin America,” said Suarez. “These markets are primed for a sophisticated investor and developer to take advantage of this opportunity.”