Federal Capital Partners® announces the sale of its partnership interest in the National Cancer Institute building at Riverside Research Park in Frederick, Maryland to development partner, The Matan Companies. The two companies formed a venture in 2010 to complete the financing for the development of the 332,000 square foot Advanced Technology Research Facility (ATRF) and delivered the shell of the state-of-the art office and laboratory facility in March of 2011, one month ahead of schedule. With SAIC-Frederick, Inc. as its prime contractor, the new facility is the only federally funded Research and Development Center (FFRDC) in the country focused exclusively on biomedical research and development, with concerted technology and R&D partnership efforts toward reducing the burden of cancer.
“FCP is pleased to have partnered with The Matan Companies in this very complex and exciting project,” said Esko Korhonen, Managing Partner of FCP. “The Matan team executed at an extremely high level; the goals for the development were met in every way and the partners have exceeded their financial targets. We look forward to a continued relationship with Matan on other projects and congratulate them on this award-winning development.”
“The entire FCP team, including Tom Carr, Esko Korhonen and Howard Jenkins, was a great combination of equity and expertise, while also allowing us the flexibility to maintain our stamp on the project,” commented Mark Matan, President of The Matan Companies. “We value our relationship with FCP moving forward.”
FCP and The Matan Companies extend their appreciation to Paul Collins, Bill Collins, Drew Flood, James Cassidy, Jud Ryan and the entire Cassidy Turley team for their representation.
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