6700 Belcrest Rd, Hyattsville, MD 20782Visit Plaza Towers's Site
Originally built in 1964, Plaza Towers is an 11-story, 288-unit high-rise that sits on 6.7-acres just north of the East-West Highway in Hyattsville, MD at the intersection of Belcrest Road and Toledo Terrace. With nearby job centers at the University of Maryland, the USDA, and the FDA, and with access to a Metro station offering Green & Yellow Line access a half-mile away, the property’s proximity to both suburban job nodes and downtown DC provides residents access to a wide job base within a 30-minute commute.
Jair Lynch purchased the property from New York-based Angelo Gordon & Co. and Donaldson in early December 2021. Jair Lynch intends to preserve and renovate the much-needed attainable housing in Prince George’s County while making incremental improvements to existing amenities over the course of our investment. Jair Lynch was selected to acquire the property after a publicly marketed sales process brokered by Transwestern.
With this acquisition, Jair Lynch has officially surpassed the $400 million attainable housing goal set in 2019 aimed at increasing and/or preserving affordable and workforce housing throughout the Mid-Atlantic region for working families and individuals earning between 30% – 120% AMI.
JLL Secures $50.1M Acquisition Financing for Multifamily Property in Metro D.C.