Langdon Park Capital, a real estate investment firm focused on preserving housing affordability in historically underserved communities, and Standard Real Estate Investments, a diversified middle-market investment manager, have acquired an 84-unit multifamily property in Azusa. Deal terms were not disclosed.
The community will be rebranded as Langdon Park on Arrow and will operate under a long-term affordability structure designed to benefit working families. The acquisition is part of a broader strategy by Langdon Park Capital and Standard to preserve naturally occurring affordable housing in high-cost urban markets.
“This acquisition reflects our mission to deliver strong returns while expanding access to safe, high-quality housing in communities that matter to us,” said Malcolm Johnson, founder and CEO of Langdon Park Capital. “The San Gabriel Valley is a growing, diverse region that houses over two million residents, with functions critical to business in the LA Metro region. This property provides a stable home for families who are the backbone of the local economy.”
The joint venture secured equity financing from The Community Preservation Corporation. Financing for the acquisition also included a Fannie Mae loan arranged by Walker & Dunlop.
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