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FCP Invests in Union Market Apartment Project

WASHINGTON, DC--The $100 million project was originally a Burger King located east of tracks that Level 2 and Clark Construction began redeveloping last year.

The Highline The Highline

WASHINGTON, DC–Federal Capital Partners is investing in The Highline, a $100 million apartment-retail project being developed in Union Market by Level 2 and Clark Enterprises. The community, located at 320 Florida Ave., NE, will consist of 318 luxury apartment units and four penthouse units as well as 10,000 square feet of first floor retail space.

The investment was made under FCP’s recently-closed FCP Realty Fund III, a $512.1 million equity pool targeting commercial properties and structured opportunities throughout the Eastern US. When it closed in October 2016, it had 20 investments committing $332.4 million of fund equity for a total value of $1.1 billion under its belt.

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Erika Morphy

Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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