Federal Capital Partners (FCP) announced that it has provided $11 million in mezzanine debt to the DSF Group to fund construction of the second phase of Halstead Square at the Dunn Loring Metro in Fairfax County, VA. PNC Bank provided the $70.6 million senior loan.
“Halstead Square is a highly metro centric project in a very desirable submarket,” said FCP Managing Partner, Lacy Rice. “We anticipate a very exciting future both for this project and other developments planned for Dunn Loring.”
Halstead Square, which broke ground in February, will consist of 436 luxury mid-rise apartment homes conveniently located adjacent to the Dunn Loring Metro Station on the Metro’s Orange Line. Included in the two six story buildings, one of which is a loft building, will be 13,600 square feet of retail space. Residents will enjoy world class amenities, as is typical of Halstead properties. Such amenities range from a professional grade fitness center with indoor sports court to an outdoor resort style swimming pool replete with an outdoor theatre, fireplace and bocce court. Sophisticated unit interiors include 8-foot windows, soaring 10-foot ceilings and hardwood flooring. Residents will enjoy WiFi service throughout the community and a lobby concierge.
Construction began in February, with first units scheduled for delivery in the fall of 2012.
About Federal Capital Partners
Federal Capital Partners (FCP) is a Washington, DC based, privately held real estate investment company that has acquired interests in more than $2 billion in assets since 2003. FCP invests in residential and commercial assets throughout the Mid-Atlantic region, including Washington, DC, Baltimore, Philadelphia, the Virginia Tidewater region and the Raleigh/Durham area. Over the past two years, FCP has been one of the most active investors in the Washington region, amassing more than $1 billion in real estate assets. FCP’s managing partners are Tom Carr, Esko Korhonen, Alex Marshall and Lacy Rice.
Through its discretionary commingled private equity funds, FCP invests directly in core plus, value-add, opportunistic and development properties. In addition, FCP provides both equity and debt capital to real estate operating partners and is aggressively seeking office, residential (for sale and for rent), industrial and retail investments in all of its target markets.