FCP® announces the sale of Townsend Square Apartments in Fredericksburg, VA to Acento Partners. The 200-unit apartment community was acquired by FCP in May 2014.
“Townsend Square received a number of improvements under FCP’s ownership, including the relocation of the leasing office to maximize prospect traffic and the curing of property-wide deferred maintenance as well as upgrades to the common area amenities,” said FCP’s Lollie Corrigan Loflin. She continued, “Northern Virginia and the Washington, DC Metro area continue to be of interest to FCP for workforce housing investments as strong job growth and increasing diversification of the local economy drives demand for attainable housing.”
Townsend Square Apartments features a mix of family-friendly two and three-bedroom apartments with amenities including a newly renovated clubhouse, fitness center, picnic area, playground, volleyball court and large swimming pool.
FCP extends its appreciation to Drew White and Carter Wood of Berkadia for their representation.
FCP® is a privately held real estate investment company that has invested in or financed more than $8.6 billion in assets since its founding in 1999. FCP invests directly and with operating partners in commercial and residential assets. The firm makes equity and mezzanine investments in income-producing and development properties. Based in Chevy Chase, MD, FCP invests both its commingled, discretionary funds and separate accounts targeted at major real estate markets in the United States. For further information on FCP, please visit www.fcpdc.com.