Phoenix Apartments

Originally built in 1971, the Property sits atop 9.3 acres just off the Baltimore-Washington Parkway, within a ten-minute commute into the District, and within walking distance to amenities including a Walmart, neighborhood-serving retail, several schools, parks, and community centers.  

Jair Lynch purchased the Property in an off-market transaction from Miami-based owner Florida Value Partners, with Melnick Real Estate Advisors serving as the buyer’s broker, for $72.5 million in August 2021. This acquisition represents another investment in Jair Lynch’s attainable housing strategy 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.

Plans for the property include improvement of amenities, addressing all deferred maintenance, and preserving the affordability and quality of housing for the existing residents long term.

5802 Annapolis Road, Bladensburg, MD

  • Type: Residential
  • Cost: $72.5 MM
  • Size: 463 Units
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