STONEBRIDGE INVESTMENTS COMPLETES ACQUISITION OF 304-UNIT APARTMENT COMMUNITY IN MANASSAS PARK, VA
Washington, D.C. – May 7, 2024 – StoneBridge Investments, a Washington, DC-based investment company, today announced the acquisition of Palisades at Manassas Park, a 304-unit apartment community located in Manassas Park, Virginia. The Seller was represented by Walter Coker and Brian Crivella of Berkadia.
“We are thrilled to add Palisades at Manassas Park to our growing portfolio,” said Kees Bruggen, Managing Director at StoneBridge Investments. “The property is well-located in a desirable neighborhood with good and dynamic job growth and a thriving and diverse population. We see tremendous potential to enhance the value of the community through strategic capital improvements and a resident-centric management approach.”
Palisades at Manassas Park offers a mix of one and two-bedroom apartments featuring spacious floor plans, modern amenities, and convenient in-unit features. Residents enjoy a variety of on-site amenities, including a swimming pool, fitness center, clubhouse, playground, and pet park. The property is situated in a prime location near major commuter routes, including Interstate 66 and Route 28, providing easy access to Northern Virginia’s largest employment centers, shopping, dining, and entertainment options throughout the region.
StoneBridge Investments plans to implement a strategic renovation plan at Palisades at Manassas Park in the coming years, focusing on upgrading unit interiors, common areas, and landscaping. The company is committed to providing residents with a superior living experience through its professional property management expertise and resident-focused programs.
About StoneBridge Investments
Active since 1980, StoneBridge and its affiliates have acquired and developed more than $1.7 billion in real estate, primarily in the multifamily sector, for foreign and domestic investors. The company’s strong track record and extensive network of relationships allow it to quickly and efficiently identify and pursue new opportunities, many of which are off-market transactions. The company’s target markets include the Washington-Baltimore area, Virginia, the Carolinas, Georgia, Florida, and Texas. It has offices in Washington, DC, Orlando, FL, and Amsterdam. For more information, visit www.stonebridgeinvestments.com.