FCP℠ announces the sale of the Walker Mill Apartments, a 366-unit apartment community in Forestville, MD, to Aulder Capital.
“FCP is very pleased with the success of its business plan and the corresponding improvement in the occupancy and vitality of the Walker Mill community,” said FCP Vice President, Summer Haltli. “We continue to be an active owner and investor in the Washington, DC region and will be seeking additional opportunities to add to our portfolio here.”
“Aulder is excited to expand our presence in the Washington, D.C. metro area with our third acquisition in the last year. The investment in Walker Mill Apartments is consistent with our firm’s strategy of buying properties in well-located suburban areas and creating value from interior and exterior design upgrades. Additionally, we seek to foster a community environment through the addition of modern, well-utilized amenities and sponsored resident events,” said Aulder CEO, Michael Zito.
The Walker Mill Apartments were originally acquired by FCP as the Regency Square Apartments in 2014. The community is one mile from the Addison Road Metro station with excellent access to public transportation, neighborhood schools and shopping. Since 2014, FCP rebranded the three-story garden community and upgraded common areas, cured maintenance issues and improved building systems.
FCP extends its appreciation to Robin Williams, Dean Sigmon and Justin Shay of Transwestern for their representation and to Gates Hudson for their management of Walker Mill and collaboration on the many community programs held at the property. In addition to Transwestern and Gate Hudson, Aulder would like to thank Berkadia’s Jonathan Pratt for his continued support to finance their expansion in the Mid-Atlantic Region.
FCP℠ is a privately held real estate investment company that has invested in or financed more than $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.
About Aulder Capital
Aulder Capital is a privately held real estate investment manager founded in 2012 that focuses on multifamily and commercial properties located in the Northeast corridor. Aulder targets middle market transactions ($15 to $100 million) with an institutionally-trained and fully integrated team providing construction, asset management, property management, marketing, legal and leasing. Aulder’s value-add returns are achieved through investments in design, renovation, luxury amenities, and re-positioning in strong local markets. Additionally, Aulder focuses on improving the lives of our residents through social programming, educational initiatives and community engagement events. For more information about our investment vehicles, please visit www.aulder.com.