HASTA DST Ventures Subscribes DST Offering of Multifamily Property Near Washington, D.C.
HASTA DST Ventures, a sponsor of multifamily real estate Delaware statutory trust offerings, has fully subscribed its HASTA Multifamily 1 DST.
HASTA DST Ventures, a sponsor of multifamily real estate Delaware statutory trust offerings, has fully subscribed its HASTA Multifamily 1 DST, which purchased Parq 170 at City Center, a 291-unit multifamily community with 43,700 square feet of retail space in the Washington, D.C. submarket of Manassas Park, Virginia.
Launched in late May 2022, the DST offering raised approximately $55 million through the distribution network of its managing broker-dealer, RCX Capital Group, and a network of registered investment advisors.
“We continue to target compelling opportunities to acquire recession-resilient properties in strong employment nodes,” said Mark Hafner, chief executive officer of HASTA. “Parq 170 is a prime example of our strategy of acquiring high-quality, well-located assets and unlocking their full potential through implementation of our operational and capital improvement strategies.”
Located at 170 Market Street, Parq 170 is controlled access community comprised of one- and two-bedroom apartment homes with hardwood laminate flooring, granite countertops, in-unit washer and dryer and walk-in closets. Property amenities include a 24-hour fitness center, a heated pool and sundeck, grill station, Wi-Fi café, elevators and clubhouse.
Parq 170 residents are within close proximity to more than 10 million square feet of retail, dining and entertainment options. The community’s attractiveness is further punctuated by its strategic location directly across from the Manassas Park VRE rail station, providing residents with a convenient commuting option to the 3.2 million jobs within the metro area.
Jean-Louis Guinchard, managing principal of RCX Capital Group, stated, “We are pleased that our investors stand to benefit from Parq 170’s long-term growth dynamics in one of most stable and resilient investment markets in the world.”
Hasta DST Ventures is a joint venture between wholly owned subsidiaries of HASTA Capital USA, RCX Capital Group and Clairmont Capital Group.
