29th Street Capital Acquires 3 DC-Area Properties
The investment firm added 1,225 units to its portfolio.
Chicago-based 29th Street Capital has acquired three market-rate communities in Prince George’s County, Md. The trio, collectively known as the Apollo portfolio, spans 1,225 units. An acquisition price was not disclosed.
Peter N. G. Schwartz Management was the seller, according to Yardi Matrix. CBRE brokered the transaction.
The portfolio includes Ascend Apollo in Largo, Md., Allure Apollo and Aspire Apollo, both located in Camp Springs. The properties were built between 2015 and 2019, and they represent the owners’ fourth, fifth and sixth investments in the Washington, D.C., area. Last April, 29th Street Capital purchased Fenwick Apartments, a 311-unit community located in Silver Spring, Md.
29th Street Living, the buyer’s property management arm, will operate the communities following the trade. The new owner plans to make value-add renovations including common-area enhancements, interior upgrades and operational improvements at all three communities.
“These are not heavy repositioning assets. They offer a clear, disciplined path to incremental value through operational execution and targeted improvements, rather than structural reinvention,” a spokesperson for 29th Street Capital told Multi-Housing News.
The Apollo portfolio at a glance
Allure Apollo was built in 2019 at 4401 Telfair Blvd. in Camp Springs. The 384-unit community has floorplans ranging from studios to two-bedroom apartments, each with in-unit washers and dryers. Shared amenities include a fitness center, a business center, a swimming pool, electric vehicle charging stations and a media room. The property was 94 percent occupied in January 2026, Yardi Matrix shows.
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Aspire Apollo comprises 417 units at 4451 Telfair Blvd. The community, delivered to market in 2015, offers one- to three-bedroom floorplans, with select apartments featuring balconies and patios. Some amenities are a children’s playroom, a media room, a fitness center, a business center and a swimming pool.
Ascend Apollo is the largest property in the portfolio, with 424 residences across six floors at 9400 Grand Blvd. in Largo. Unit sizes range from one- to two-bedrooms with rents averaging $2,018, according to Yardi Matrix. At the time of sale, the community was 93 percent leased. Shared amenities include a clubhouse, a swimming pool and a fitness center. Covered parking is also available for residents.
The three communities are within 11 miles of each other, and Washington, D.C. is about 40 minutes away from each location. The communities have access to Interstate 495 and to public transit via the Branch Avenue and Downtown Largo stations respectively.
Earlier this month, in nearby McLean, Va., JLL Income Property Trust sold Kingston at McClean Crossing, a 500,000-square-foot Class A community spanning 319 units. The property has been rebranded as The Point at McLean.
