Source: HASTA Capital
BALTIMORE, MD - HASTA Capital has acquired The Zenith, a 21-story class A+ high-rise with 191 apartment units and 6,340 feet of ground-floor retail located in the heart of downtown Baltimore.
Built in 2007, The Zenith is located next to the University of Maryland Medical Center and sits directly across the street from Oriole Park at Camden Yards, home to the Baltimore Orioles. Approximately 1/3 of the apartments at The Zenith have stadium views into the Camden Yards ballfield.
HASTA plans extensive renovations to the common areas and amenities and upgrades to the property’s apartment units. The Zenith is HASTA’s 7thmultifamily acquisition in the Mid-Atlantic region.
“We believe the healthcare and education sectors will continue to be key drivers of US economic growth. We plan to make significant investments into the building, positioning the Zenith as the one of the premiere places to live in downtown Baltimore,” said Mark Hafner, CEO of HASTA. “The Zenith is a prime example of our strategy of acquiring high-quality, well-located assets and generating alpha through implementation of our operational and capital improvement strategies.”
“The US multifamily rental sector continued to show its resiliency during 2020, confirming it as the most attractive investment alternative in commercial real estate,” said Rodrigo Suarez, COO of HASTA.