Photo Courtesy: Transwestern
FCP announces the $24.5 million sale of River Pointe, a 170-unit apartment community in Fort Washington, MD, to Aulder Capital.
“FCP’s business plan for River Pointe has been successfully completed, with targeted capital invested to improve its appeal in a submarket where tremendous economic growth fueled the demand for workforce housing,” said FCP Vice President, Jeff Robertson. “We continue to pursue multifamily assets throughout the Washington, DC region, utilizing our longstanding knowledge of the area to identify exceptional opportunities.”
“River Pointe is a well-maintained property of high quality construction and it’s a great fit for our expanding NE Corridor portfolio. Aulder will continue to invest in the property with professionally designed upgrades to interiors, common areas, and the latest amenities for tenants seeking both value and lifestyle,” said Aulder Head of Acquisitions, Matthew Schneider.
River Pointe is well-located in the Indian Head Highway corridor, just south of the Washington Capital Beltway. The property sits near major employment centers at Andrews Air Force Base and the National Harbor entertainment, conference and retail area, including the $1.3 billion, recently completed MGM National Harbor Hotel and Casino.
FCP extends its appreciation to Robin Williams, Dean Sigmon and Justin Shay of the Transwestern Mid-Atlantic Multifamily Group.
About FCP
FCP is a privately held real estate investment company that has invested in or financed more than $6 billion in assets since its founding in 1999. FCP invests directly and with operating partners in commercial and residential assets. The firm makes equity and mezzanine investments in income-producing and development properties. Based in Chevy Chase, MD, FCP invests both its commingled, discretionary funds and separate accounts targeted at major real estate markets in the United States. For further information on FCP, please visit www.fcpdc.com.
About Aulder Capital
Aulder Capital is a privately held real estate investment manager founded in 2012 that focuses on multifamily and commercial properties located in the Northeast corridor. Aulder targets middle market transactions ($15 to $80 million) with an institutionally-trained and fully integrated team providing construction, asset management, property management, marketing, legal and leasing. Aulder’s value-add returns are achieved through investments in design, renovation, luxury amenities, and re-positioning in strong local markets. For more information about our investment vehicles, please visit www.aulder.com.
