ATAPCO PROPERTIES ACQUIRES 9-STORY APARTMENT COMMUNITY IN GREENBELT, MD

GREENBELT, Md., July 28, 2026 – Atapco Properties announces the acquisition of Charlestowne North Apartments, a 178-unit apartment community located in Greenbelt, Maryland. Originally built in 1967, the nine-story property offers a mix of studio, one-bedroom, onebedroom-with-den, and two-bedroom residences. Situated on 5.5 acres at 8150 Lakeside Drive, the community features a swimming pool, resident gathering spaces, and on-site parking. Charlestowne North is ideally located adjacent to Buddy Attick Lake Park and Greenbelt Lake, with convenient access to I-495, the Baltimore-Washington Parkway, and bus service connecting residents to the Greenbelt and New Carrollton transit stations.

As part of the acquisition, Atapco plans to preserve the community’s existing affordability, with all apartments remaining at or below 80% of Area Median Income (AMI). The company intends to maintain this affordability without seeking or receiving local, state, or federal subsidy funding. “This is more than a real estate transaction—it’s a commitment to the community,” said Nihar Shah, Vice President of Acquisitions and Development at Atapco Properties. “We are intentionally acquiring this asset to preserve affordable and attainable housing in a market where rising barriers to development have limited the creation of new housing options. We believe everyone deserves access to stable, quality housing, and this investment reflects our long-term commitment to protecting that opportunity for current and future residents.”

In addition to preserving affordability, Atapco plans to make significant investments in modernizing the property and enhancing resident amenities. Planned improvements include renovations to apartment homes as units become available, upgraded fitness and community spaces, energy-efficiency enhancements, and refreshed landscaping and property branding. These improvements are designed to enhance residents’ quality of life while ensuring the longterm vitality of the community and will build upon the improvements Walker & Dunlop invested into the community.

###

Atapco Properties is a wholly owned subsidiary of American Trading and Production Corporation, which was originally formed in 1931 to consolidate, expand and diversify the business activities of the Blaustein family, the founders of the American Oil Company (AMOCO). Atapco Properties is active in Maryland, Indiana, Delaware, North Carolina, Pennsylvania, and Virginia, developing state-of-the-art industrial, retail, residential, office and mixed-use projects with an emphasis on sustainability and green building standards. For more information on Atapco Properties, visit www.atapcoproperties.com.

Media Contact:
Sally Zabel, Marketing & Communications Manager, Atapco Properties
410-347-7258
szabel@atapco.co