Langdon Park Capital Acquires DC Area Apartment Community for USD 63m.
MANews-(C)2009-2022
Los Angeles-based Black-owned real estate investment company Langdon Park Capital has acquired a 304-unit apartment property in the Washington, DC area for USD 63.2m to expand in Mid-Atlantic US, the company said.
The property, which will be rebranded Langdon Park at Fort Washington, was built in 1965 and is in a predominantly Black community with most residents earning below 70% of area medium income.
Preserving that affordability while providing housing that residents can be proud of is core to LPC's mission and investment strategy.
LPC has committed more than USD 5m for capital improvements at the property, including upgraded interiors of units, building...
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