Federal Capital Partners® (FCP) today announced the $23.05 million sale of the Overlook Manor Apartments, a 290-unit garden apartment community located at 1208 Alban Court in Frederick, Maryland.
“We invested in capital improvements to the common areas, leasing center, landscaping and signage, resulting in an improved profile and higher occupancy,” said FCP Managing Partner, Alex Marshall. “We are delighted to have our first sale in our current Fund portfolio.” The community features easy access to I-70 and I270 and is proximate to a regional mall and nearby job centers.
FCP extends its appreciation to Drew White, Ryan Ogden, Mike Marshall and Sean Piplico of ARA 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 $3.5 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