FCP Sells Villas at Princeton Lakes for $36.75 Million
Deal News | Nov 21, 2024 | Federal Capital Partners
Federal Capital Partners (FCP) has sold the Villas at Princeton Lakes, a 210-unit garden-style apartment community in Atlanta's South Fulton area, to Monday Properties and RSN Property Group for $36.75 million. This marks a successful exit for FCP, which acquired the property in the last quarter of 2020 for $30 million. During its ownership, FCP implemented upgrades to the common areas and building exteriors, re-positioning the asset to meet the demand in Atlanta's growing market for workforce housing. The South Fulton community, built in 2004, contains family-oriented floorplans with amenities and is strategically located with access to major transportation routes and the Hartsfield Atlanta International Airport. FCP, a real estate investment firm based in Maryland, has invested over $13.1 billion in assets and remains focused on the Atlanta market's opportunities due to its strong economic growth and demand for residential properties. The sale was facilitated with assistance from Cushman & Wakefield.
Sectors
- Real Estate
- Private Equity
Geography
- United States – The transaction involves a property located in Atlanta, Georgia, with FCP based in Chevy Chase, Maryland.
- Atlanta, Georgia – Atlanta is the specific location of the property sold and is highlighted due to its economic growth and housing demand.
Industry
- Real Estate – The article pertains to the sale of a residential real estate property, highlighting the investment and development strategies of FCP in the Atlanta real estate market.
- Private Equity – FCP, a private equity firm, conducted the transaction, underscoring its role in investing equity in real estate assets.
Financials
- $36.75 million – Sale price of Villas at Princeton Lakes
- $30 million – Purchase price of Villas at Princeton Lakes in Q4 2020
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Federal Capital Partners (FCP) | Seller | Company | A private real estate investment firm that purchased and upgraded the property before selling it. |
| Monday Properties | Buyer | Company | One of the two purchasing companies in the transaction. |
| RSN Property Group | Buyer | Company | Partner buyer in the acquisition of the Atlanta property. |
| Cushman & Wakefield | Representative | Company | Provided representation services in the transaction. |
| Travis Presnell | Representative | Person | An individual at Cushman & Wakefield who represented the seller. |
| James Wilber | Representative | Person | An individual at Cushman & Wakefield who represented the seller. |