CHEVY CHASE, MD – FCP along with its partners Insight Property Group and AHC announce the acquisition of Camden Largo Town Center apartments in Largo, MD for $71.9 million. The 245-unit community at 9701 Summit Circle will be renamed Haven Largo.
“FCP is excited to continue to invest in our home market with the acquisition of a well-maintained, high-performing asset in one of suburban Maryland’s premier submarkets,” said Scott Reibstein of FCP. “As part of our commitment to preserve moderately priced apartment communities in the Washington, D.C. area, we plan to offer resident services and implement affordability requirements for a portion of the units. “
“Insight is delighted to partner with Prince George’s County, AHC and FCP on this acquisition, where we will be able to create much-needed affordable housing in an exceptional location,” said Tim White, Partner at Insight Property Group.
“AHC is thrilled to acquire our first community in Prince George’s County in partnership with the county, Insight Property Group and FCP,” said Mary Claire Davis, Director of AHC Greater Baltimore. “We appreciate the county’s commitment to providing affordable long-term rents in such a prime location, and we look forward to adding programs and services to further improve residents’ quality of life.”
Haven Largo is a low-density garden apartment community offering a tranquil setting in a rapidly growing submarket in Prince George’s County, MD. The community is minutes from the Largo Town Center subway station and the Capital Beltway. Residents of spacious one-, two-, and three-bedroom apartments have access to major employment centers, including the nearby University of Maryland Capital Region Medical Center. Apartment amenities include washers and dryers, vaulted ceilings, pantries, and garages for rent. The community has a fitness center, swimming pool, grilling areas and an outdoor gazebo.