Federal Capital Partners has announced the sale of a five property multifamily portfolio in a deal worth $328 million. The portfolio sale includes 2,490 units in the suburbs of Washington, D.C., (Cypress Creek and Toledo Plaza in Hyattsville, MD), Penn Landing in Forestville, Md., Cambridge Apartments in New Carrollton, Md. and Summerlyn Place in Laurel, Md. The sale marks the largest D.C.-area multifamily transaction in 2016. CB Richard Ellis handled the marketing and sale of the portfolio on behalf of FCP.
“Most of these properties are close to metro stations, which provide great access to employment throughout the DC-area, retail and other amenities nearby,” stated Jason Bonderenko, senior vice president at FCP. “FCP has been active in the DC-metro, going back 15 years now. It has proven to be a strong rental market and job growth has been accelerating, which is attractive to investors.”
