MCB Real Estate continues to expand its attainable housing portfolio, creating exceptional investment opportunities, and helping to create more equitable housing accessibility. This is highlighted by MCB’s recent acquisition of Suncrest Apartments, a 44-unit multifamily community located in Capital Heights, MD, just south of Washington, D.C. The asset was acquired in August 2024 in partnership with Ernst Equities and Webb Ventures.

The undermanaged property was 77% occupied upon acquisition. Through strategic leasing efforts, MCB’s joint venture with Ernst Equities and Webb Ventures leased all vacancies while achieving pro forma rents, resulting in a remarkable 40% increase in monthly revenue. Additionally, MCB and its partners are working to transition month-to-month tenants to standard leases at market rents, further stabilizing and enhancing the property’s long-term performance.

With the success of Suncrest, MCB is well-positioned to continue expanding its attainable housing portfolio,” says MCB President Gina Baker Chambers. “Our ability to identify underperforming assets, streamline operations, and foster meaningful partnerships sets us up for continued growth in this important and high-demand sector.

The attainable housing sector continues to present a compelling opportunity for strategic acquisitions. Market conditions like underperforming assets, distressed owners, and growing demand for quality, affordable housing have created an ideal environment for well-positioned investors. As the demand for affordable housing continues to rise, MCB is committed to creating more opportunities for essential workforce populations, such as healthcare workers, educators, and first responders. MCB’s strategic approach to acquisitions and operations, combined with strong partnerships with firms like Ernst Equities and Webb Ventures, ensures investments not just in properties but in communities.

This acquisition also aligns with MCB’s dedication to Environmental, Social, and Governance (ESG) goals. The property already features solar panels on the roof and Suncrest was acquired through MCB’s Emerging Manager Fund. Webb Ventures was established shortly before the Suncrest acquisition, making this partnership a vital part of MCB’s broader commitment to accelerating pathways in the real estate sector where we partner with both emerging and experienced real estate sponsors.

The property also has a deed restriction, limiting rents to 120% of the Area Median Income (AMI). As part of MCB’s commitment to preserving affordability, rents were kept intentionally below 50% of AMI to ensure that Suncrest remains an attractive housing option for those who may face barriers to finding affordable living options elsewhere in the area.
As MCB’s portfolio continues to grow, the firm remains focused on more than simply acquiring and developing properties that create long-term value for investors, but on making a positive impact on the communities that aren’t simply assets, but also home.

Assets

Related News

MCB Real Estate Acquires Pinkard Properties, Katherine Pinkard to Lead Property Management Division
Press Release
February 6, 2025
MCB Real Estate Nears Completion of Leasing for Redevelopment and Repositioning of 42 Pad Sites
Assets
January 27, 2025
MCB’s Attainable Housing Focus Featured in Affordable Housing Magazine
Community
January 24, 2025

Media & Press

Media Inquiries

Jarnell Swecker

Managing Director, Marketing

jswecker@mcbrealestate.com

Sign up for Our Newsletter