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.

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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.

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

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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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