Institutional Investors Anchor Prince Georges County With 233 Million Dollar Multifamily Acquisition

A joint venture of 29th Street Capital and Willton Investment Management acquires three apartment buildings in Maryland with a 232.7 million dollar Fannie Mae loan.

By: AXL Media

Published: Mar 4, 2026, 9:29 AM EST

Source: Bisnow

The Apollo Portfolio Acquisition and Financing Terms

The acquisition of the Apollo portfolio marks one of the most significant multifamily transactions in the Washington DC suburbs for early 2026. The buyer, a partnership between 29th Street Capital and Willton Investment Management, secured a 232.7 million dollar loan to facilitate the purchase of three distinct assets. This financing was provided by Fannie Mae and orchestrated by the debt and structured finance team at Colliers. While the total purchase price for the portfolio was not publicly disclosed, the scale of the debt indicates a high valuation reflecting the premium nature of the assets involved.

Strategically Located Residential Assets in Maryland

The portfolio consists of three properties developed by Peter N.G. Schwartz Management Co. between 2015 and 2019. These include Ascend Apollo, located in Largo, and the adjacent Allure Apollo and Aspire Apollo communities in Camp Springs. Collectively, the properties provide a mix of luxury and workforce housing options totaling over 1,200 units. The Camp Springs assets, Allure and Aspire, contribute 801 units to the total, while Ascend Apollo adds another 424 units. Their proximity to major transit hubs and government employment centers in Prince Georges County makes them high performing assets in the regional rental market.

Regulatory and Competitive Landscape

The acquisition comes at a time when Prince Georges County is navigating complex regulatory discussions regarding rent control and tenant protections. Investors in the region are closely monitoring legislative developments that could impact long term yields on multifamily assets. Despite these headwinds, the Apollo deal suggests that institutional capital remains confident in the fundamentals of the Maryland suburbs. The joint venture strategic positioning allows them to compete effectively against older, Class B inventory by offering modern amenities and professional management in a submarket with limited new supply.