Hines said Tuesday it had acquired two Northern Virginia land development lots, including 245 acres in Loudoun County and nearly 13 acres in Manassas. The two parcels will be developed into master-planned communities, adding more than 1,200 single-family homes to the Washington, DC submarkets. 

Acquired in partnership with Trez Capital, DRB Group and Estein USA, and located approximately 40 miles from downtown Washington, D.C., Village at Clear Springs in Loudoun County will be a 1,076-unit community of market rate single-family detached and townhomes, and active adult single-family homes. The seller was Clear Springs Development. Kennedy Lewis provided the loan to acquire and develop the project.

In partnership with Trez Capital, Parkridge West in Manassas will bring 162 single-family and stacked townhomes to Prince William County, with amenities including a dog park, playground and park. The seller was Willard Retail/Buchanan Partners. Western Alliance Bank provided the loan to acquire and develop the project.

“Loudoun County and Prince William County display strong demographic data and an undersupply of housing stock, posing an appealing opportunity for us to deliver high-quality master-planned communities with diverse product offerings,” said Andrew McGeorge, senior managing director and city head of the Washington, DC office at Hines.