Federal Capital Partners (FCP) today announced the purchase of a majority interest in The Fields of Leesburg apartments through a joint venture with Kettler. The Fields of Leesburg is a 404-unit garden apartment complex at 75 Plaza Street in Leesburg, VA. Originally built in the 1970’s in two phases, the property participates in a tax credit program that provides quality living at affordable rates to those that qualify.
“FCP is pleased to be investing with Kettler in The Fields of Leesburg,” said FCP Managing Partner, Alex Marshall. “We have been seeking investments in the workforce housing sector and will continue to look at ways to expand our presence in markets with similar dynamics to Loudoun County. The Fields of Leesburg, with Kettler Management continuing to manage the property, represents the type of product and quality of management that will lead to strong occupancy and financial performance.”
The Fields of Leesburg is conveniently located minutes from shopping, parks and recreation and the Dulles Greenway, which quickly connects Loudoun County to Dulles Airport, the planned Silver Line Metro and the job centers of Northern Virginia. Community amenities include a pool, learning center, on-site fitness center, multi-sports court, picnic areas and playgrounds, community room and a pet-friendly policy allowing cats and large dogs. Residents enjoy features such as ceiling fans in select homes, eat-in kitchens with premium appliances, separate dining rooms and walk-in closets.
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 more than five million square feet of commercial space, more than 50,000 homes in 25 master-planned communities and many of the area’s premier mixeduse communities. Founded in 1988, Kettler Management manages nearly 19,000 apartments in more than 90 locations and 1.7 million square feet of retail space from New Jersey to North Carolina for Kettler and thirdparty owners. The Company will add over 6,000 apartment units to its portfolio by 2014. For more information, visit www.kettler.com.
About Federal Capital Partners
Federal Capital Partners (FCP) is a privately held real estate investment company that has invested in or financed more than $3.0 billion in assets since its founding in 1999. FCP is seeking debt and equity investments in commercial and residential real estate throughout the Mid-Atlantic region, including Washington DC, Maryland, Pennsylvania, Virginia, Delaware, West Virginia, New Jersey and the Carolinas. FCP buys assets directly as well as through joint ventures with local operating partners through equity, preferred equity or mezzanine debt investments. The firm, based in Chevy Chase, MD, manages $769 million of discretionary capital. FCP is currently investing FCP Realty Fund II, L.P., a $529 million commingled, discretionary fund closed in 2012. For further information on FCP, please visit www.fcpdc.com