FCP Buys Stake in 2 Apartment Communities

Holly Springs

FORESTVILLE, MD–Federal Capital Partners is acquiring two apartment communities in this part of Maryland through a recapitalization of properties owned by Urban Atlantic. The stake in the properties — Holly Springs Meadows and Woods at Addison — traded for $44 million. The communities have a combined 449 apartment units.

The acquisitions are part of FCP’s strategy of seeking out multifamily assets as direct investments or recapitalization in the Washington, DC area and Eastern US, according to FCP SVP 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.”