Forestville, Md.—The Community Development Trust (CDT) and Peak Capital Partners have acquired Parkland Village Apartments in Forestville, Md., a suburb of Washington, D.C. The property consists of 159 units of affordable housing.
The price wasn’t disclosed, but the new owners plan to invest $3.2 million for immediate repairs and capital reserves to maintain the property as affordable housing for the long-term. All 159 of the units of Parkland Village
Apartments will be reserved for families with household income at or below 60 percent of the area median income.
The property consists of 12 two- and three-story buildings with a mix of one- and two-bedroom garden-type apartments...Read More