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Jair Lynch Tops $400M Attainable Housing Goal with Plaza Towers Acquisition
Washington, DC-based Jair Lynch Real Estate Partners has acquired the 288-unit Plaza Towers in Hyattsville, MD for $65.8 million. Transwestern Real Estate Services brokered the transaction of the 11-story , 6.7-acre asset; Angelo Gordon & Co. and Donaldson was the seller.
The multifamily is Jair Lynch’s third attainable housing acquisition in Prince George’s County, and with this purchase Jair Lynch has surpassed its $400-million attainable housing investment goal.
In 2019, Jair Lynch Real Estate Partners launched an attainable housing strategy aimed at increasing and/or preserving affordable and workforce housing throughout the Mid-Atlantic region for working families and individuals earning between 30% – 120% of the area median income.
“We recognize the need for attainable and workforce housing both within and surrounding the District,” said Ulysses Auger, Jair Lynch’s director of acquisitions. “The goal is to protect affordability long term while taking steps to improve residents’ homes in the process.”
- ◦Sale/Acquisition
