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Phoenix Apartments Update 09/09/21

A Prince George's County apartment complex is new ownership.

The partnership of Jair Lynch Real Estate Partners & Nuveen Real Estate has acquired Phoenix Apartments in Bladensburg for $72.5M. The building features 463 units, a mix of 1 & 2 bedrooms on a 3+ acre site. The property was originally constructed in the early 1970s and recently underwent major renovations.  Phuc Tran, Jair Lynch’s Director of Investments said "we’ve seen a desperate need for this type of housing, not just within the District but also in the surrounding counties. The goal is to protect affordability long term, and one way we accomplish this is by acquiring assets like Phoenix Apartments, quickly reaching out to residents, and establishing that partnership.”

the phoeniz

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