Langdon Park Capital Enters DC Market with $63M Multifamily Acquisition
Langdon Park Capital, a Los Angeles-based Black-owned real estate investment company, has completed its first Washington, DC area acquisition, a 304-unit apartment complex in Fort Washington, MD for $63.2 million. Capital One provided the financing.
The acquisition illustrates the firm’s commitment to addressing the unmet demand for high-quality, affordable housing in historically underserved Black and Latino communities across the US. Preserving affordability while providing housing that residents can be proud of is core to LPC’s mission and investment strategy.
The property, now rebranded as 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.
The property sits just outside the Capital Beltway for proximity to DC employment centers. LPC has committed more than $5 million for capital improvements at the property and will work with organizations to provide residents with access to social services.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.