Chevy Chase, MD


Federal Capital Partners® (FCP) with partners Angelo, Gordon and Company and The Donaldson Group today announced the $48.6 million sale of The Phoenix, a three-tower, 447-unit, high rise apartment community near the intersection of the BaltimoreWashington Parkway and Annapolis Road (Route 450) in Bladensburg, MD.

“FCP and its partners have completed a very successful repositioning and stabilization of an important apartment community within Bladensburg,” said FCP Managing Partner, Alex Marshall. “A major renovation, along with common area and recreational improvements, has brought this well-located and prominent property back to life with a stabilized occupancy of 95%.”

The venture implemented a full renovation of The Phoenix, including new facades, new windows, landscaping improvements, pool and playground renovations, elevator modernizations, new mechanical and plumbing systems and fencing and security upgrades. Common areas, including main lobbies, were upgraded and redecorated, and apartment units were fully renovated and re-leased as tenants vacated over time.


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


About Angelo, Gordon & Company

Angelo, Gordon & Co. is a privately-held registered investment advisor dedicated to alternative investing. The firm was founded in 1988 and currently manages approximately $25 billion. The firm seeks to generate absolute returns with low volatility by exploiting inefficiencies in selected markets and capitalizing on situations that are not in the mainstream of investment opportunities. Angelo, Gordon & Co. creatively seeks out new opportunities that allow the firm to remain a leader in alternative investments.