Federal Capital Partners (FCP) announces the recapitalization, through a joint venture with Urban Atlantic, of two Prince George’s County apartment communities, Holly Springs Meadows and Woods at Addison, for $44 million. The communities have a combined 449 apartment units.
“FCP is excited to be acquiring these properties with Urban Atlantic, as we continue to seek multifamily assets as direct investments or recapitalization in the Washington, DC area and Eastern U.S.,” said FCP Sr. Vice President for Residential Acquisitions, Jason Bonderenko. “Holly Springs Meadows and Woods at Addison are both well-maintained and conveniently located, close to major employment centers, retail amenities and key transportation points.”
Holly Springs Meadows is located at 5521 Marlboro Pike in Forestville, MD and features spacious, brick, garden apartments with modern kitchens and landscaped courtyards in a wooded, family-friendly setting. The community is pet-friendly, has a playground and large open spaces for relaxation.
Woods at Addison is located at 6500 Ronald Road in Capitol Heights, MD. Located five minutes from the Addison Road Metro station and the Capital Beltway, the community features modern kitchens, private balconies or patios, a pool and tennis and basketball courts.
FCP extends its appreciation to Christine Espenshade and Robert Garrish at JLL for arranging the transaction.
About Federal Capital Partners
Federal Capital Partners (FCP) is a privately held real estate investment company that has invested in or financed more than $5.0 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 in the Eastern United States. For further information on FCP, please visit www.fcpdc.com.