Federal Capital Partners® (FCP) announces the sale of its interests in the Champlain Street condominium development site in Washington, DC today. The property is planned for 41 residential units. FCP’s sale ends its involvement with the proposed development.
FCP Senior Vice President, Steve Walsh, noted, “We were able to reach our return objectives sooner than anticipated due to strong housing demand in premier DC neighborhoods along with the efforts of our development partners, Charlie Kehler and Stratton Thomas at Altus Realty.”
FCP extends its appreciation to CBRE, who advised on the transaction.
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 equity, preferred equity and mezzanine debt investments in commercial and residential real estate throughout the MidAtlantic 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. The firm, based in Chevy Chase, MD, owns and manages in excess of $2.3 billion in assets. FCP is currently investing its second investment fund, a $529 million commingled, discretionary fund closed in 2012. For further information on FCP, please visit www.fcpdc.com