Federal Capital Partners® (FCP) announces the $88.7 million sales of two Prince George’s County, MD apartment communities, South Pointe and Montpelier Crossing.
Located within walking distance of the Southern Avenue Metro station in Temple Hills, MD, the 390-unit South Pointe Apartment property was originally purchased by FCP as Oxon Park and Oxon Terrace in November of 2011. The property underwent an extensive common area improvement plan during FCP’s ownership.
Montpelier Crossing, with 386 units on Muirkirk Road in Laurel, MD, was acquired by FCP in October of 2011 and also underwent substantial renovations, including the construction of a new leasing center and fitness facility which helped reposition the property within the quickly growing Fort Meade area.
FCP Vice President, Chris LoSapio, commented on the two sales, “Our business plans at these two well-located communities are complete and were highly successful, with strong leasing performance and steady NOI growth.”
FCP extends its appreciation to Transwestern’s Dean Sigmon and Robin Williams for their representation of FCP at South Pointe and to Bill Roohan, Mike Muldowney and Martha Hastings of CBRE for their representation at Montpelier Crossing.
About Federal Capital Partners
Federal Capital Partners (FCP) is a privately held real estate investment company that has invested in or financed more than $4.0 billion in assets since its founding in 1999. FCP invests in all asset classes and provides equity, preferred equity and mezzanine debt investments for commercial and residential real estate. The firm, based in Chevy Chase, MD, owns and manages in excess of $2.3 billion in assets. FCP is currently investing its third investment fund, a recently closed commingled, discretionary fund targeted at real estate markets on the East Coast of the United States. For further information on FCP, please visit www.fcpdc.com