ATLANTA, GA - Federal Capital Partners (FCP) announced the $45 million acquisition of Stratford Ridge, a 446-unit, one, two, three and four bedroom garden-style apartment community in the Atlanta suburb of Marietta, GA. Stratford Ridge marks FCP's 5th investment in the Atlanta area.
"FCP is excited to expand its Atlanta portfolio with this well-maintained community in the thriving Marietta submarket," said FCP Sr. Associate, Alex Cathcart. "Stratford Ridge has large, family-friendly floor plans and is well-located, close to major thoroughfares, employment centers and the new SunTrust Park, making it a great fit within our growing Atlanta portfolio."
Amenities at Stratford Ridge include a clubhouse, fitness center, playground and pet park, sundeck and pool, and an after-school care program. Apartments, many of which have been updated, include dishwashers, disposals, gas ranges, hardwood floors, washer and dryer connections and large closets. FCP will invest in capital improvements to the existing site and buildings, amenity enhancements and interior unit renovations.
FCP extends its appreciation to Kevin Geiger of CBRE for representing the seller in the transaction.
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. 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.
Source: Federal Capital Partners / #Apartments #Mulrifamily