LEXINGTON PARK, MD—Federal Capital Partners andWestmoreland Partners have sold LexingtonVillage, a 160,000-square foot retail center here to anundisclosed buyer for $24.1 million. The propertyis now 96% leased after a four-year or so redevelopment andstabilization campaign by FCP after it acquired the thenpartially-developed property out of foreclosure in November2010.


The retail center is located at the intersection of MarylandRoute 235 and Buck Hewitt Road in St. Mary's County. At the timeFCP acquired the property, a stand-alone Kohl's department storeserved as the anchor. FCP secured other tenants, including Dick'sSporting Goods as a second anchor.


The property was recapitalized in early 2011 with a $16million construction loan.


The construction lender was PNC. Otherparticipants in the project include CBRE, leasingbrokers Ryan Wilner and RyanMinnehan of KLNB, leasing consultantArt Carson and property manager RenaudConsulting.

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