Langdon Park Capital Purchases 304-Unit Asset
June 28, 2022
WASHINGTON – Transwestern Commercial Services (TCS) announces its Mid-Atlantic Multifamily Group has brokered the sale of Glen Rock Landing, a 304-unit multifamily asset at 2428 Corning Ave. in Fort Washington, Maryland. Transwestern’s Dean Sigmon, Robin Williams, Justin Shay, and Michael D’Amelio represented the undisclosed seller in the disposition of the garden-style community to Langdon Park Capital for an undisclosed price.
“Glen Rock Landing is a strategic investment by Langdon Park Capital and its partners to enter the Fort Washington market,” said Williams, Executive Vice President at Transwestern. “The property offers competitive amenities and a superior living environment in an ideal commuter location.”
Glen Rock Landing is a well-maintained, Naturally Occurring Affordable Housing property comprised of 11 garden-style buildings and a stand-alone clubhouse. The community’s floorplans average 821 square feet and include in-unit washers and dryers, a feature not typically found in competitive communities. Onsite amenities include a pool, fitness center and clubhouse. The property provides superior access to the I-495/I-95 Capital Beltway with excellent connection to Washington, D.C., Northern Virginia and major employment centers like MGM National Harbor.
“We received strong investor interest in Glen Rock from both local and out-of-town investors,” said Shay, Vice President at Transwestern. “Low vacancy and strong historical rent growth have positioned Fort Washington as one of the region’s strongest and most consistent performers.”
As one of the most active groups in the region, Transwestern has sold 2,400 units totaling more than $465 million over the past 18 months in Prince George’s County, including the recent $100 million sale of Bedford and Victoria Station to Jair Lynch.
Transwestern’s Mid-Atlantic Multifamily Group provides a full range of investment sales services throughout Maryland, Washington, D.C., Northern Virginia, Richmond, and Delaware. The group’s recent client roster includes Sentinel Real Estate, Federal Capital Partners, Foulger-Pratt with DLJ, Hampshire Properties, Aimco, Avalon Bay, Equity Residential, The Bozzuto Group, Fannie Mae, AIG Investment, Morgan Properties, Goldman Sachs, JP Morgan, and Angelo Gordon.
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. Through an integrated, customized approach that begins with good ideas, the firm drives value for clients across commercial real estate services, development, investment management, and opportunistic endeavors for high-net-worth investors. Operating from 33 U.S. offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.
Executive Vice President
Executive Vice President
Justin Shay, CCIM
Senior Vice President