Federal Capital Partners (FCP) has announced the appointment of two additional professionals in its Development and Accounting groups.
Harry P. Chalstrom joins FCP as Vice President – Development, joining the FCP team after eight years with American Communities Property Trust (ACPT), which was acquired by FCP in 2009. Prior to joining ACPT, Mr. Chalstrom was with Bozzuto Construction Company, where he worked in project management and field supervision. During his 27-year construction career, Mr. Chalstrom was involved in the construction of over 2,000 multi-family units in the Washington, DC area and will now monitor FCP’s growing investment in new multifamily construction. FCP is currently financing construction of over 1,000 multi-family units in the DC area. Mr. Chalstrom’s responsibilities will include due diligence on development and construction opportunities, cost estimation, entitlement work and deal sourcing in the company’s master-planned St. Charles community.
James Rensen joins FCP as Assistant Controller and will take on responsibility for all fund-related accounting and will also provide accounting support for the company’s investor clients. Prior to joining FCP, Mr. Rensen served as a Senior Accountant at Perseus, LLC and before that was a Senior Accountant, Joint Venture Accounting for HMS Host Corporation.
About Federal Capital Partners
Federal Capital Partners (www.fcpdc.com) is a real estate investment company headquartered in Georgetown in Washington, DC. The Managing Partners include Esko Korhonen, Lacy Rice, Tom Carr and Alex Marshall. Since its inception, FCP has acquired more than $2.0 billion of real estate assets and debt across all property types.
FCP manages FCP Fund I, L.P., a $240 million co-mingled real estate private equity fund formed to invest in multiple real estate sectors in the Mid-Atlantic region with a focus on the metro Washington, DC area. The fund is able to provide both debt and equity capital as needed for real estate investments in the market and, in the past two years, has acquired or funded close to $1 billion through the fund in multifamily residential, office and retail real estate. In 2010, FCP was one of the most active investment companies in the Mid-Atlantic region, investing more than $390 million in transactions that ranged from direct investment as a JV partner in a downtown office building to the purchase of a note on a foreclosed retail center and the funding through preferred equity and mezzanine capital for a multi-family residential development.