Federal Capital Partners® (FCP) announced the sale of Crystal Park Apartments, a 314 unit garden apartment community located near the US-40, I-270 and Route 15 interchange in Frederick, Maryland. FCP invested in capital improvements to the common areas and clubhouse, reduced operating expenses and adjusted rents to reflect the property’s market position, resulting in dramatic improvements in operational and financial performance since its acquisition in November, 2009.
“Crystal Park enjoys a wonderful location in Frederick, which has experienced strong job growth and expansion of major economic drivers such as the National Cancer Institute and Ft. Detrick,” said FCP Managing Partner, Alex Marshall. “FCP remains invested in Frederick apartments with Willowdale Crossing and Overlook Manor and believes there will be continued growth and opportunities for investment in this market.”
FCP extends its appreciation to Drew White, Ryan Ogden and Mike Marshall 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 $3.0 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.
In December 2012, FCP was recognized by PERE Magazine as one of the Top 10 Emerging Fund Managers. 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