Acquisition of DC-Metro Multifamily Property for $5.15 Million

MCB Real Estate, an institutional commercial real estate investment management firm with nationwide holdings, announced today the $5.15 million purchase of SunCrest Apartments in Capitol Heights, Md. Located just one mile south of the Washington, D.C. border at 5225 Marlboro Pike, the 44-unit multifamily property is comprising two buildings, each three stories. The purchase of SunCrest Apartments was made in collaboration with an institutional investor’s Emerging Manager Program and marks the first transaction with investment partners Ernst Equities and Webb Ventures.

“As institutional investors seek new sources of return, they are increasingly recognizing the benefits of investing with small, emerging, and diverse managers. And likewise with MCB, investing in SunCrest Apartments is not just about financial returns; it’s about recognizing and unlocking the potential in small and emerging entrepreneurs,” said Gina Baker Chambers, President of MCB Real Estate. “We’ve seen tremendous value in this partnership. Webb Ventures and Ernst Equities have the energy, focus, and creative drive needed to optimize the performance of this asset. By working together, we’re able to transform properties into high-performing assets, and we look forward to future opportunities to collaborate and drive even greater success.”

Built in 1972, the property is currently 82% occupied. Of the 44 units, 24 have been modernized and the partnership plans to renovate the remaining apartments. These circumstances afford MCB a terrific opportunity to maximize SunCrest’s occupancy and align rents closer to the market while maintaining rents that allow SunCrest to be an attainable option for potential residents in the DC metro area.

SunCrest has undergone extensive capital improvements, including a new roof and the installation of solar panels that supply lower cost electricity to the property. This minimizes the risk of unexpected capital expenses, allowing new ownership to focus funds on operational and in-unit improvements that drive bottom-line growth.

“SunCrest Apartments offers tremendous upside at a relatively modest investment,” adds Baker Chambers. “Regardless of the sector, we’re always looking for opportunities that make sense and align with our strategy. Our team’s knowledge and market expertise give us the flexibility to unlock potential in properties like this that other firms can’t capitalize on.”

Founded by Felipe Ernst in 2015, Ernst Equities specializes in housing investments within the Washington, D.C. area and nearby Maryland submarkets. The firm manages a portfolio of over 800 units, overseeing all aspects of property management, asset management, general contracting, and maintenance internally. Felipe Ernst also imparts his expertise as an adjunct professor at Georgetown University, where he teaches a course on value-add multifamily investments.

Webb Ventures was established by Cameron Webb in 2024, after he spent over 10 years as a top commercial broker, including as a multifamily sales broker with Marcus & Millichap and Berkadia. In 2017, his career evolved when he began acquiring value-add multifamily properties. Today, Webb Ventures oversees a portfolio of roughly 180 units, representing $40 million in assets under management.