29th Street Capital Secures 1,225-Unit Apollo Portfolio in Major Prince George’s County Expansion

Chicago based 29th Street Capital acquires the three property Apollo portfolio in Maryland, adding 1,225 market rate units to its growing Washington D.C. area holdings.

By: AXL Media

Published: Mar 13, 2026, 11:51 AM EDT

Source: https://www.multihousingnews.com/

Strategic Portfolio Composition and Growth

The Apollo portfolio consists of three high quality assets: Ascend Apollo in Largo, and Allure Apollo and Aspire Apollo in Camp Springs. Developed between 2015 and 2019, these communities represent relatively modern stock that does not require extensive structural repositioning. This acquisition follows 29th Street Capital’s purchase of the 311 unit Fenwick Apartments in Silver Spring last year, signaling a disciplined strategy of targeting established, high performing assets within the D.C. commuter belt.

Operational Execution Over Structural Reinvention

Unlike "heavy lift" opportunistic plays, the new ownership intends to focus on incremental value through operational excellence and targeted capital improvements. 29th Street Living, the firm’s internal property management arm, has taken over day to day operations. Planned upgrades include common area enhancements and interior unit refreshes across all three sites. According to company representatives, the goal is to leverage disciplined management to drive value rather than undertaking massive structural renovations, a common strategy for institutional firms in a high interest rate environment.

Asset Profiles: Allure, Aspire, and Ascend

The portfolio offers a diverse range of unit types and price points. Allure Apollo, the newest asset completed in 2019, features 384 units with a high occupancy rate of 94 percent as of early 2026. Aspire Apollo, delivered in 2015, provides 417 residences with floorplans ranging up to three bedrooms. The largest of the trio, Ascend Apollo in Largo, consists of 424 units across six floors. With average rents at Ascend hovering around $2,018, the portfolio is well positioned to capture demand from the mid market and workforce demographics who are priced out of the District’s core.