Federal Capital Partners (FCP) today announced its $15.2 million all cash acquisition of River Pointe, a 170 unit apartment complex at 8310-8434 Indian Head Highway in Fort Washington, Maryland. The community, which features 3 story garden apartments, is located just south of Washington’s Capital Beltway, in close proximity to Andrews Air Force Base and the growing National Harbor development area. Gates Hudson & Associates has been retained to manage the property.
“River Pointe is 98% occupied today and has a history of being a highly stable property that has wide appeal to residents in this region,” said FCP Managing Partner, Alex Marshall. “The Indian Head Highway corridor provides easy access to several important interstates as well as to National Harbor, a major conference center with destination entertainment and retail amenities.”
FCP extends its appreciation to Alan Davis, Dave Nachison and Brenden Flood with Holliday Fenoglio Fowler, L.P. for brokering the transaction.
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 $3 billion in assets since 2003. FCP invests in multi-family and commercial assets throughout the Mid-Atlantic region, including Washington, DC, Baltimore, Philadelphia, the Virginia Tidewater region and the Raleigh/Durham area and currently manages a portfolio of approximately $1.8 billion in real estate assets throughout those markets. FCP’s managing partners are Tom Carr, Esko Korhonen, Alex Marshall and Lacy Rice.
Through its discretionary co-mingled 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. Over the last two years, FCP has been one of the most active real estate investment companies in the Mid-Atlantic region, investing approximately $1 billion in transactions that ranged from direct investment as a JV partner in a downtown office building, to the purchase of a note of a foreclosed retail center, and the funding through preferred equity and mezzanine capital for a multi-family residential development. For further information on FCP, please visit www.fcpdc.com