MCLEAN, VA - Kettler, Inc, one of the Mid-Atlantic's largest real estate and property management firms, has been named property manager for the Apartments of St. Charles, Waldorf, MD and for Essex Village in Richmond, VA, with a total of 3,000 apartments now under management, according to Cynthia Clare, president of Kettler Management, Inc.
The Apartments of St. Charles and Essex Village are owned by Federal Capital Partners (FCP), a real estate investment firm headquartered in Washington, D.C. The firm owns The Allegro, a 300-unit "Class A" apartment community in Columbia Heights that is also managed by Kettler.
The Apartments of St. Charles, located 12 miles south of the Capital Beltway in Charles County, is a town center community with 2,500-units, offering one- to-three-bedroom floor plans from garden-style walk-up apartments to luxury mid-rise buildings. Essex Village is a 497-unit affordable apartment community in Richmond and has a variety of floor plans and amenities.
"The addition of the Apartments of St. Charles and Essex Village brings our portfolio to 16,000 apartments under management, an increase of 25 per cent," Clare said. "It's great to be working with FCP on these properties and to be providing the residents will a level of service and attention to detail that we believe are the hallmarks of Kettler property management."
Alan Shearer, managing director of FCP and CEO of American Communities Properties Trust, previous owners of the Apartments of St. Charles and Essex Village, said, "Our selection of Kettler to manage our largest portfolio of apartments is testimony to our confidence in their expertise and experience."
"Kettler's professionalism, marketing expertise and highly skilled staff are exceptional and their experience with managing our Allegro property was key in knowing they are the right match for a larger part of our portfolio," added Dave Ohlrich, FCP vice president.
Federal Capital Partners is a Washington, D.C.-based real estate investment company focused on residential and commercial assets located in the Mid-Atlantic region. In September 2009, FCP acquired American Communities Properties Trust, previous owners of the Apartments of St. Charles and Essex Village. It manages over $450 million of equity, including FCP Fund I, L.P., a $240 million discretionary equity fund raised in 2008. The firm's partners include Alex Marshall, Tom Carr, Lacy Rice and Esko Korhonen.
Founded by Robert C. Kettler in 1977, Kettler is among the largest private real estate and property management companies based in the D.C. metro area and one of the nation's top 20 multifamily developers. The firm's diverse business model has led to the delivery of five million square feet of commercial space and over 50,000 homes. Kettler's apartment portfolio includes high-end, market rate, affordable and fee-managed assets. In 2008, Kettler Management was awarded the prestigious "Pillars of the Industry" award in the property management category by the National Association of Homebuilders. Currently, the company is developing transit-oriented mixed-use projects and managing a growing portfolio of third-party assets.
Source: Kettler, Inc.