BETHESDA, MD—Federal Capital Partners continues to push its way up and down the Eastern Seaboard. Its newest market is Nashville, TN, where the company has acquired a 1,448-unit, four-asset apartment portfolio for $84 million. It partnered with Middleburg Real Estate Partners for the transaction, which will continue to manage the property.

"When entering new markets, we like to lead with strong partners and strong income-oriented investments," said FCP Managing Partner Lacy Rice in a prepared statement.

Per its usual MO, FCP has been studying Nashville for two years before entering it, Rice said, echoing the formula Managing Partner Tom Carr outlined for GlobeSt.com recently.

FCP's first fund in 2008 was mostly invested in the DC area but the firm has steadily, albeit incrementally, expanded its footprint with subsequent funds. It recently moving into North and South Carolina, for instance. Now it is readying for additional investments in Nashville's residential and commercial markets, according to Rice.

This first deal consists of four apartment communities: Mission Stone Ridge, Mission Hickory Highlands, Mission Priest Lake and Mission Madison Square. They are located in close-in suburbs with access to downtown Nashville.

Acquisition debt financing was provided by Sadhvi Subramanian, Michael Antonelli and Jennifer Niedzwiecki at Capital One in Washington, DC and arranged by K.O. Kennedy and Scott Brady at CBRE in Nashville.

Baird served as the financial advisor to Middleburg Real Estate Partners.

So where will FCP go next? According to Carr, Miami has been on its watch list.

Instant Insights /

FCP Continues Push Down Eastern Seaboard With $84M Deal

Related Stories

Recommended For You