New York’s Osso Capital Buys NoVA Apartment Complex for $69M
By Nick Trombola November 7, 2024 5:47 pm
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A New York-based investment firm founded in 2020 has expanded its reach to Northern Virginia with the purchase of a 244-unit multifamily complex in Manassas.
Osso Capital acquired Manassas Station Apartments, spread across four buildings at 9004 and 9205 Prince William Street, brokers at Berkadia announced this week. Osso paid $68.5 million to sellers Capreit and Principal Real Estate Investors, according to the Business Journals. The deal closed Oct. 24.
Berkadia’s Brian Crivella, Bill Gribbin and Yalda Ghamarian brokered the sale on behalf of the sellers. It was not immediately clear who represented Osso. Berkadia also facilitated financing for the purchase, the firm said, though further details were not immediately available.
“Northern Virginia has proven itself to be a top 3 target investment market in the country,” Crivella said in a statement. “The unique Old Town Manassas location combined with value-add and high-growth upside potential contributed to a highly sought-after opportunity in the market.”
Representatives for Osso, North Bethesda, Md.-based Capreit and Principal did not immediately respond to requests for comment.
Northern Virginia has been a hotbed for multifamily sales in recent months, with a handful of deals hitting nine figures. That includes investment and management firm Waterton’s sale of the 631-unit Residences at Springfield Station in Springfield to Abacus Capital Group for $207 million at the end of September. Or there’s Harbor Group International’s $250 million sale of the 806-unit Dulles Greene apartments in Herndon, which closed around the same time.
Nick Trombola can be reached at ntrombola@commercialobserver.com.
