Federal Capital Partners (FCP) today announced the repayment of its mortgage and mezzanine note investments in The Georgian, an 892 unit high-rise apartment community in Silver Spring, Maryland.
”The Georgian was one of our initial debt investments in the market and we are delighted that the property has been sold and our notes repaid. We benefited from our unique knowledge of the market and our ability to underwrite and close quickly on the purchase of the notes in 2010,” said FCP Managing Partner, Alex Marshall.
The Georgian was sold subject to a bankruptcy sale for $168 million.
FCP would like to acknowledge the following for their work on the sale: Bill Roohan and Mike Rudolph at CBRE, Robin Jones at Pillsbury and Allen Hanson at Situs.
About Federal Capital Partners
Federal Capital Partners (FCP) is a privately held real estate investment company that has invested in or financed more than $3.0 billion in assets since its founding in 1999. FCP is seeking debt and equity 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 through equity, preferred equity or mezzanine debt investments. The firm, based in Chevy Chase, MD, manages $769 million of discretionary capital. FCP is currently investing FCP Realty Fund II, L.P., a $529 million commingled, discretionary fund closed in 2012. For further information on FCP, please visit www.fcpdc.com