Chevy Chase, MD


Federal Capital Partners® (FCP) announces the sale of West Village in Durham, NC for $187 million. This upscale mixed-use community in downtown Durham consists of 609 apartments, including 453 urban lofts in the historic tobacco warehouse buildings, 156 new luxury apartments and 104,000 square feet of commercial space. FCP initially invested in West Village in 2011, expanded its investment in 2012, and completed the development of the new, luxury apartments in 2014.

Over the past few years, improvements throughout the popular community were completed, including new branding, signage and improved access to the courtyards and amenity areas, wifi hotspots, outdoor grilling kitchens and game rooms. The fitness center was expanded and relocated and now features state-of-the-art equipment, yoga room and a juice bar. West Village residents have access to a Zipcars® program to complement the walkable nature of the community and the commercial spaces have been repositioned and leased.

FCP Vice President, Bryan Kane, commented on the sale, saying, “We compliment our venture partners, Bell Partners, for their exceptional work leasing and managing this one-of-a-kind community as well as Tri Properties for their work making the commercial space such a success. Our business plan was executed extremely well, and we are proud to see West Village finally completed and contributing fully to Durham’s vibrant downtown.”

FCP would like to thank Duke University and their real estate team for their contribution to the success of West Village and for their continued support and partnership in downtown Durham. FCP extends its appreciation to Malcolm McComb and Phil Brosseau of CBRE and to Rick Shinberg and Jeff Coles at First Capital Realty for their representation.

FCP has been one of the most active investors in the Triangle area, with over $1 billion in investments and deal value over the past four years.


About Bell Partners, Inc.

Established in 1976, Bell Partners Inc. (“Bell Partners” or the “Company”) is a privately held, vertically integrated apartment investment and management company focused on high-quality multifamily communities across the East Coast, Southwest, and Western United States. With over 64,000 units under management, Bell Partners is the 11th largest apartment operator and 7th largest apartment renovator in the United States (according to The National Multi-Housing Council). The Company has over 1,600 employees and 9 offices (including its headquarters in Greensboro, NC) and offers an extensive and full service operating platform containing expertise in acquisitions and dispositions, financing, property operations, accounting, risk management and all other related support functions. Bell Partners is led by a senior management team with an average of over 20 years of experience that has invested throughout all phases of the real estate cycle and has helped the Company complete over $10 billion of apartment transactions since 2002, including $670 million of acquisitions and $800 million of dispositions in 2015. For more information, visit our website at


About Federal Capital Partners

Federal Capital Partners (FCP) is a privately held real estate investment company that has invested in or financed more than $4.0 billion in assets since its founding in 1999. FCP invests in all asset classes and provides equity, preferred equity and structured debt investments for commercial and residential real estate. The firm, based in Chevy Chase, MD, owns and manages in excess of $2.3 billion in assets. FCP is currently investing its third investment fund, a recently closed commingled, discretionary fund targeted at real estate markets on the East Coast of the United States. For further information on FCP, please visit