The Park Berkshire Apartments is a 598-unit garden apartment community located in Forestville, MD.

The property consists of 22 three-story residential buildings situated on 21 acres that is visible from Route 4 / Pennsylvania Avenue. The property is located approximately 1.5 miles from both the Washington Capital Beltway (I-495) and the Suitland Metro Station.

FCP is repositioning the property by improving all of the common areas, upgrading the systems and finishes in the community. The $14 million renovation is underway and will take approximately 24 months to complete.

The Park Berkshire acquisition represents an exceptional value-creation opportunity in a good and improving location. FCP has repositioned in excess of 7,000 apartment units in the Metro DC area, many in emerging submarkets like Forestville.

The property was purchased by a subsidiary of FCP Fund I, L.P., Federal Capital Partners’ recently formed private equity fund. The fund has in excess of $600 million in purchasing power for real estate assets in the Mid-Atlantic region. Wells Fargo Bank, N.A., through its Real Estate Merchant Banking Group, provided a first mortgage loan for the Park Berkshire acquisition.