CHEVY CHASE, MD - Federal Capital Partners (FCP) has completed the largest DC-area multifamily transaction in 2016 with the $328 million sale of five apartment communities totaling 2,490 units in the suburbs of Washington, DC.
The portfolio sale includes the following apartment communities acquired through FCP's Funds I and II: Cypress Creek in Hyattsville, MD – 760 units, Penn Landing in Forestville, MD – 598 units, Cambridge Apartments at New Carrollton Station in New Carrollton, MD – 466 units, Summerlyn Place in Laurel, MD – 424 units, and Toledo Plaza in Hyattsville, MD – 242 units.
"FCP takes great pride in the improvements we have made to each of these properties," said FCP Senior Vice President, Jason Bonderenko. "We have completed our business plan for these communities and continue to seek new multifamily investments in the region."
FCP extends its appreciation to CB Richard Ellis for handling the marketing and sale of the portfolio.
Federal Capital Partners (FCP) is a privately held real estate investment company that has invested in or financed more than $5.0 billion in assets since its founding in 1999. FCP invests in all asset classes and provides equity, preferred equity and structured debt investments for commercial and residential real estate. The firm, based in Chevy Chase, MD, owns and manages in excess of $2.3 billion in assets. FCP is currently investing its third investment fund, a recently closed commingled, discretionary fund targeted at real estate markets on the East Coast of the United States.
Source: Federal Capital Partners / #Apartments #Multifamily