Federal Capital Partners (FCP) today announced its acquisition of Oxon Park and Oxon Terrace, two neighboring apartment complexes comprising 390 apartments located in Temple Hills, MD near the border of Washington, DC and Prince George’s County, Maryland. The classic 3 and 4 story brick garden apartments are located at 2525 and 2607 Southern Avenue, respectively, within walking distance of both the Southern Avenue and Naylor Road Metro stations and one mile from the future Department of Homeland Security headquarters, now under construction at the St. Elizabeth’s Hospital site.
“Oxon Park and Oxon Terrace presented the opportunity to invest in two garden apartment communities in a quickly improving submarket at a substantial discount to replacement cost,” said FCP Vice President, Jason Bonderenko. “We have confidence that this community, with focused management and a $3.3 million common area improvement plan, can become one of the most successful properties in the submarket.” FCP assumed above-market CMBS debt as part of the transaction.
To date in 2011, FCP has invested in 17 multifamily properties totaling more than 4,000 units generating more than $400 million in transaction volume throughout the Mid-Atlantic region. In the past three weeks alone, the company has closed on three Washington area apartment properties totaling 946 units.
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