Federal Capital Partners® (FCP) has acquired Regency Square, a 366-unit apartment community in Forestville, MD, for $21.8 million in an off-market transaction. The three-story garden apartment community has a pool and playground and each unit has its own private balcony or patio. The Regency Square acquisition is FCP’s 9th apartment community acquisition in 2014.
“Regency Square fits well with FCP’s focus on the acquisition of welllocated apartment communities in need of repositioning and recapitalization”, said FCP Vice President, Jason Bonderenko. “The community is one mile from the Addison Road Metro station with excellent access to bus service, neighborhood schools, the Capital Beltway and shopping along Pennsylvania Avenue, Silver Hill Road and Marlboro Pike.”
FCP will reinvest in the community through improved management, rebranding and approximately $8 million of upgrades to common areas, deferred maintenance items and building systems. FCP has retained Gates Hudson to manage the community.
FCP extends its appreciation to Robin Williams, Dean Sigmon and Justin Shay of Transwestern, who represented the seller in this transaction. Capital One Bank is providing acquisition and renovation financing.
About Federal Capital Partners
Federal Capital Partners (FCP) is a privately held real estate investment company that has invested in or financed more than $3.5 billion in assets since its founding in 1999. FCP is seeking equity, preferred equity and mezzanine debt investments in commercial and residential real estate throughout the Mid-Atlantic region, including Washington DC, Maryland, Pennsylvania, Virginia, Delaware, West Virginia, New Jersey and the Carolinas. FCP buys assets directly as well as through joint ventures with local operating partners. The firm, based in Chevy Chase, MD, owns and manages in excess of $2.3 billion in assets. FCP is currently investing its second investment fund, a $529 million commingled, discretionary fund closed in 2012. For further information on FCP, please visit www.fcpdc.com