Langdon Park Capital Buys SoCal Housing Community for $21M

A Hollywood, Calif.-based housing investment firm has acquired its fifth property since its founding, this time in Los Angeles County’s San Gabriel Valley.

A joint venture between Langdon Park Capital and Standard Real Estate Investments spent $21 million on Pacific Trails, an 84-unit apartment complex at 18615 Arrow Highway in Covina, Commercial Observer has learned. The sale price is a slight increase from the $19.6 million that seller RPK Development purchased it for in 2018. The owners purchased the property, which will be redubbed Langdon Park on Arrow, with the intention of preserving naturally occurring affordable housing. 

“This acquisition reflects our mission to deliver strong returns while expanding access to safe, high-quality housing in communities that matter to us,” Malcolm Johnson, Langdon Park founder and CEO, said in a statement. “This property provides a stable home for families who are the backbone of the local economy.”

The Mogharebi Group’s Mike Marcu represented RPK in the deal.

“With more than 2 million residents and a rising share of cost-stressed households, the San Gabriel Valley continues to face urgent housing challenges,” Marcu said in a statement. “Pacific Trails presented a unique opportunity — an asset well-positioned to support the preservation of affordability in the San Gabriel Valley, one of Southern California’s most transit-connected and rent-burdened regions.”

The deal is Langdon Park’s first purchase since its summer 2022 buying spree. The firm, founded the previous year, spent $63.2 million on a 304-unit property in Fort Washington, Md.; a combined $36.9 million for a 177-unit complex in Hollywood and a 23-unit property in L.A.’s Baldwin Hills neighborhood; and $48.6 million for a 138-unit apartment building in West Covina, Calif., all within a few weeks of each other. 

Nick Trombola can be reached at ntrombola@commercialobserver.com.