Institutional Scale, Community-Focused
Langdon Park at Fort Washington
Prince George’s County, Maryland
304 Units | Acquired 2022
Langdon Park at Fort Washington is a multifamily community located in Prince George’s County, MD near Washington, DC. The transaction was secured through Prince George’s County’s Right of First Refusal (ROFR) program, a regulatory process that allows the County to assign its purchasing rights to qualified affordable housing developers. LPC was selected by the County to proceed with the acquisition based on our demonstrated commitment to preservation and our inclusion on the County’s list of approved developers.
The acquisition underscores LPC’s ability to source and close complex transactions within regulatory frameworks and to unlock long-term value in high-barrier markets with significant affordability needs. Since acquisition, LPC has completed targeted renovations, enhanced property operations and partnered with local nonprofit organizations to drive community-focused programming, all while maintaining affordability for existing residents.
NOI Growth: ~20% increase since acquisition
Affordability: 30% of units affordable to households earning ≤70% of AMI
Community Impact: Preserved naturally affordable rents and implemented resident engagement initiatives in partnership with the Community Services Foundation
Langdon Park on Arrow
Azusa, California
84 Units | Acquired 2025
Langdon Park on Arrow is a multifamily community located in the San Gabriel Valley submarket of Los Angeles County. Originally branded as Pacific Trails, the property was acquired through a joint venture with Standard Real Estate Investments and non-profit partner Housing on Merit, with equity from Community Preservation Corporation.
The acquisition was structured to leverage a Welfare Tax Exemption, preserving long-term affordability while unlocking value through regulatory efficiency. The asset features a stable tenant base, minimal deferred maintenance and strong regional connectivity. This investment exemplifies LPC’s strategy of acquiring naturally affordable properties in high-cost markets and preserving them through public-private partnerships and mission-aligned ownership.
NOI Growth (Projected): Stabilized cap rate projected at 6.30% by Year 3; ~$1.1 million in projected property tax savings via Welfare Tax Exemption
Affordability: 100% of units rent at or below 80% of Area Median Income
Community Impact: Tenant income certifications to preserve long-term affordability in partnership with Housing on Merit
Strategic Location: Immediate access to major freeways and the Covina Metrolink Station, supporting long-term demand and resident retention