Castle Lanterra Properties (CLP) announced the acquisition of Capital Crossing, a 359-unit apartment community located at 3930 Suitland Road in Suitland, Maryland. No transactions details were released.
Built in 1960, Capital Crossing is a collection of 15 multifamily buildings that include 359 apartments ranging between 705 and 1,080 s/f.
The community consists primarily of one- and two-bedroom units, in addition to a small number of three-bedroom units and a single studio apartment. Amenities for residents includeg a dog park, a playground area, laundry facilities, a modern business & community center and a fitness facility. The complex is approximately 96 percent occupied.
CLP plans to undertake an extensive renovation campaign. Located within blocks of the Washington D.C. border,
Capital Crossing is one mile from the $400 million Suitland Town Center which offers a wide array of retail, dining and entertainment options in close proximity.