FCP® announces the sale of Potomac Vista Apartments in Woodbridge, VA to Jair Lynch Real Estate Partners and Nuveen for $81.5 million. FCP initially purchased the 408-unit community in August 2016.
“FCP is pleased with the success of our business plan at Potomac Vista, including significant capital improvements made to building exteriors, HVAC systems and common area amenities,” said FCP Associate Scott Reibstein. Mr. Reibstein continued, “Investments in Northern Virginia and the Washington, DC Metro Area continue to be of great interest to us as strong job growth and diversification of the local economy attract people to the region.”
FCP extends its appreciation to Brian Crivella, Walter Coker and Robert Jenkins of JLL for their representation of FCP.
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.