Berkadia is pleased to present the sale of Masons Keepe (the “Property”), a 270-unit gated community built in 2004 in Manassas, Virginia. The Property’s prime location, proximate to I-66 and the Manassas Station VRE, offers residents exceptional connectivity to local employment hubs in Manassas and throughout the greater D.C. metro area. Ownership has meticulously completed several large CapEx projects over the last 5 years, allowing for new ownership to focus on value-creating initiatives. The Property is well positioned to capture additional upside on 100% of the units through a unit interior renovation program.

Masons Keepe is located within a high-growth Manassas submarket supported by a deep and expanding employment base, with no new multifamily deliveries projected within a three-mile radius through 2030. The Property features a compelling unit mix, with 78% of residences configured as two-bedroom units or larger, supporting broad renter appeal and long-term household retention. Demand is anchored by proximity to the George Mason University’s Innovation Park, a 1,500-acre research and technology campus home to numerous corporate users and more than 1,600 biotechnology and STEM-focused employees, as well as Micron Technology’s nearby 576,000-square-foot semiconductor facility, which supports thousands of high-skilled jobs and significant long-term capital investment in the region.

Additionally, NVIDIA’s flagship AI research center and the world’s first 96-megawatt Aurora power-flexible data facility are set to open in Manassas in the first half of 2026, establishing the region as a preeminent destination for advanced AI infrastructure. These employment drivers underpin strong operating fundamentals, with average projected rent growth exceeding 4.5% annually through 2030 (Axiometrics).

The Property offers convenient access to I-66 and the Dulles Corridor, positioning residents within easy commuting distance of major employment centers throughout Manassas, Prince William County, and the broader Washington, D.C. metro area. Masons Keepe is less than a 10-minute drive from Downtown Manassas and approximately two miles from Bull Run Plaza, a dominant retail destination featuring a strong lineup of grocery-anchored and national retailers that support daily convenience and lifestyle needs. The Manassas Station VRE further enhances connectivity with direct rail service to Northern Virginia and Washington, D.C., reinforcing the Property’s appeal to both local and regional commuters.