Chevy Chase, MD




Federal Capital Partners® (FCP) is recapitalizing six properties with a total of 2,044 apartments in the Washington, DC Metropolitan area. FCP, in partnership with ROSS Companies, who will retain an ownership interest in the portfolio and continue to provide property management services, intends to fund and complete capital projects. The recapitalization values the portfolio in excess of $240 million. The portfolio includes a high-rise apartment community in Northern Virginia and five garden style apartment communities in Maryland. The transaction is the largest apartment portfolio transaction in the Washington, DC area in 2014. The communities include:

  • The Strand – 394 units in two high rise buildings in Alexandria, VA. This property is proximate to Landmark Mall, currently undergoing redevelopment, as well as to I-395 and the Washington Beltway (I-495).
  • Cambridge Crossing, Lenox Court and Sutton Walk – Three adjacent properties with a total of 466 units within walking distance of the New Carrollton Metro station orange line and MARC station. New Carrollton is also a planned stop for the proposed purple line light rail system.
  • Cypress Creek – 760 units in Hyattsville, MD, within walking distance of the West Hyattsville Metro station.
  • Summerlyn Place – 424 units in Laurel, MD, proximate to the Laurel Mall, currently being redeveloped to include a new Harris Teeter.


“This transaction expands FCP’s portfolio of well-located workforce apartments within the Washington, DC Metro area,” said FCP Vice President for Residential Acquisitions, Jason Bonderenko. “These stable, well-performing properties, when combined with targeted capital improvements, will continue to offer quality housing in improving submarkets.”

FCP Senior Vice President for Asset Management, Dave Ohlrich, commented on the new venture, saying, “We are particularly pleased to partner with ROSS Companies, a longtime Washington, DC Metropolitan Area owner and operator with a stellar reputation. Their careful management and commitment to resident satisfaction is evident throughout the portfolio.”

“We’re excited to be partnering with FCP and to have the ability to implement the value creation opportunities that exist in this portfolio,” said Scott Ross, President of ROSS Development & Investment.

Financing was provided by Wells Fargo and Fannie Mae. ROSS Renovation & Construction will be managing the capital improvements for the six communities.


About ROSS

Companies ROSS Companies, founded in 1983 in Bethesda, MD, is a recognized leader in multi-family acquisitions and investment, development, property management and renovation. With more than 10,000 apartment homes in its portfolio, the company is one of the most active multifamily real estate firms in the Mid-Atlantic region. ROSS Companies is comprised of three affiliates- ROSS Development & Investment, ROSS Management Services and ROSS Renovation & Construction. For more information about ROSS Companies, visit


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