Federal Capital Partners® (FCP) today announced the acquisition, through its existing joint venture with Horizon Land Co., LLC (Horizon), of Valley Village, a 174-site manufactured home community in Erie, PA. The community is well-located and proximate to existing FCP/Horizon communities.
“The Valley Village acquisition expands our presence in Western Pennsylvania, allowing for additional options to offer prospective customers,” said FCP Vice President, Drew Odabashian.
The Valley Village acquisition brings the portfolio to a total of 19 Mid-Atlantic communities with approximately 2,920 sites. Since closing the joint venture in late 2012, FCP/Horizon has acquired nine communities representing approximately $80 million in value, with several others in the works.
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 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. 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