An affordable housing investor recently acquired a 727-unit apartment complex in Prince George’s County’s Landover Hills for $139 million, with help from a county program aimed at preserving affordable housing for lower-income residents.
The property, dubbed Verona at Landover Hills, whose main address is 4085 Warner Ave., comprises 727 workforce units in 18 low-rise buildings on five parcels just southwest of Annapolis Road.
Dantes Partners LLC, a D.C.-based company focused on affordable housing, bought the property from affiliates of Bethesda-based Dragone Realty Investments LLC and Miami-based JSB Capital Group LLC, formerly GMF Capital LLC. The deal closed June 30 but wasn’t announced until earlier this week.
The apartment complex is situated in an area that appears poised to grow. It’s within four miles or less of three rail transit stations, providing Orange Line access into the District and Purple Line access to several growth areas throughout suburban Maryland. It’s also not far from New Carrollton Metro Station’s slated 2.3 million square feet of mixed-use development and the Landover site where the FBI’s new headquarters could end up.
