Federal Capital Partners® (FCP) today announced the $41 million sale of Willowdale Crossing Apartments, a 432-unit garden apartment community located at 108 Willowdale Drive in Frederick, Maryland.
“We have fulfilled our business plan for Willowdale, one of our initial investments in our second fund. Our investment in the property included substantial capital improvements, resulting in stronger leasing performance, higher occupancy and positive NOI growth,” said FCP Managing Partner, Alex Marshall. The community features easy access to I-70 and I-270 and is proximate to a regional mall and nearby job centers.
FCP extends its appreciation to Drew White, Sean Piplico and Ryan Ogden from ARA Mid-Atlantic for their representation.
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 MidAtlantic 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