FCP buys Charlotte, North Carolina apartment property for $22 mln

Federal Capital Partners, a real estate investment firm, has acquired Charlotte, North Carolina-based Hunters Pointe Apartments, a 386-unit, garden-style apartment community. The price of the acquisition was $22 million. FCP is planning on investing more than $2 million in Hunters Pointe to make capital improvements and add amenities, such as a new swimming pool, a new playground, a dog park and grilling stations.

PRESS RELEASE

CHEVY CHASE, Md., Oct. 17, 2017 /PRNewswire/ — Federal Capital Partners® (FCP) announces the $22 million acquisition of Hunters Pointe Apartments, a 386-unit, garden-style apartment community in the University area of Charlotte, NC. Hunters Pointe marks FCP’s 4th investment in Charlotte, NC.

“Hunters Pointe provides FCP with an opportunity to invest in a well-located community that will benefit from capital improvements and repositioning,” said FCP Sr. Associate Alex Cathcart. “With the extension of the CATS Light Rail Blue Line, and the proximity to major transportation corridors, the University Area and Uptown Charlotte job centers, we believe Hunters Pointe will be a highly attractive option for wage earners in the area.”

FCP will invest more than $2 million in numerous capital improvements and amenities at Hunters Pointe, including the addition of a new swimming pool, a new playground, a dog park, and grilling stations. FCP plans to improve and upgrade the community’s entrance, leasing office, building exteriors, landscaping and green spaces. Hunters Pointe townhome and loft-style apartments already include full size washer and dryer connections, private patios, individual HVAC units and well-equipped kitchens.

FCP extends its appreciation to Capstone Apartment Partners who represented the seller in the transaction.

About Federal Capital Partners
Federal Capital Partners (FCP) is a privately held real estate investment company that has invested in or financed more than $5.0 billion in assets since its founding in 1999. FCP invests in all asset classes and provides equity, preferred equity and structured debt investments for commercial and residential real estate. The firm, based in Chevy Chase, MD, owns and manages in excess of $2.3 billion in assets. FCP is currently investing its third investment fund, a recently closed commingled, discretionary fund targeted at real estate markets in the Eastern United States. For further information on FCP, please visit www.fcpdc.com.

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