Langdon Park Capital, a real estate investment firm focused on preserving housing affordability in historically underserved communities, and Standard Real Estate Investments (Standard), a diversified middle market investment manager announced the acquisition of an 84-unit multifamily property in Azusa, California.
The community will be rebranded as Langdon Park on Arrow and will operate under a long-term affordability structure designed to benefit working families. The acquisition is part of a broader strategy by Langdon Park Capital and Standard to preserve naturally occurring affordable housing in high-cost urban markets through innovative partnerships and impact-driven capital.
The joint venture secured equity financing from The Community Preservation Corporation (CPC), a 50-year old nonprofit multifamily lender and investor. Financing for the acquisition also included a Fannie Mae loan arranged by Walker & Dunlop.
“We’re proud to partner with Standard and CPC on this important transaction,” said Malcolm Johnson, Founder and CEO of Langdon Park Capital. “This acquisition reflects our mission to deliver strong returns while expanding access to safe, high-quality housing in communities that matter to us. The San Gabriel Valley is a growing, diverse region that houses over two million residents, with functions critical to business in the LA Metro region. This property provides a stable home for families who are the backbone of the local economy.”
The property will benefit from a Welfare Tax Exemption through the California Municipal Finance Authority, made possible by the active participation of Housing on Merit, a California-based nonprofit serving as the Managing General Partner. As a mission-aligned ownership partner, Housing on Merit plays a central role in the long-term stewardship of the property, ensuring that affordability protections for residents earning at or below 80 percent of the Area Median Income are maintained in accordance with state regulatory requirements. This partnership reflects a shared commitment to preserving housing affordability through both financial investment and nonprofit leadership.
“We are excited to continue scaling our multifamily preservation strategy alongside best-in-class partners like Langdon Park Capital and CPC,” said Robert Jue, CEO of Standard. “This investment aligns with our goal of building a more inclusive housing economy, especially in high-barrier regions like Los Angeles County.”
“At CPC, we are committed to using our capital to support partners who are advancing the affordability and equity of the communities they serve,” said Tell Metzger, Senior Vice President, Equity Investments, The Community Preservation Corporation. “This transaction not only ensures the tenants will have safe, stable and affordable homes, it also provides the resources to ensure the long-term financial and physical wellbeing of the property. We’re proud to invest alongside Langdon Park Capital and Standard Real Estate Investments to preserve housing that strengthens the fabric of the San Gabriel Valley.”
With this acquisition, Langdon Park Capital’s total assets under management now exceed $165 million. The firm and its partners plan to replicate this preservation model in additional urban markets over the next 18 to 24 months, with a focus on California and the Mid-Atlantic.
