Langdon Park Capital (LPC) has purchased a pair of multifamily real estate assets in the Los Angeles area. The two properties, acquired for a total of $37 million, are comprised of a 177-unit complex in Hollywood, CA and a 23-unit community in the Baldwin Village neighborhood of South Los Angeles.
LPC is a Black-owned real estate investment company with a mission to address housing affordability in growing regions and provide safe, well-managed workforce residences in historically underserved Black and Latino communities. “These Los Angeles area acquisitions exemplify LPC’s investment strategy of providing high-quality housing in markets experiencing long-term growth that will remain within reach of the working individuals who have lived in these neighborhoods for decades,” said LPC Founder and CEO Malcolm Johnson (pictured in Baldwin Village).
The properties will be rebranded as Langdon Park at Hollywood Studios and Langdon Park at Baldwin Village. Both communities could benefit from major real estate development projects underway near Hollywood studios, SoFi Stadium and along the Crenshaw Corridor.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.