Federal Capital Partners buys Orlando apartment complex for $23.6M

It was the Maryland-based company's eighth acquisition of rental housing in Florida, expanding its statewide portfolio to more than 2,000 apartments

TRD MIAMI /
Jun.June 10, 2018 11:55 AM

The Royal Isles apartment complex in Orlando (Credit: ApartmentFinder.com)

Maryland-based Federal Capital Partners (FCP) acquired a 264-unit apartment complex in Orlando for $23.6 million.

It was FCP’s eighth investment in rental housing in Florida, increasing its statewide portfolio to more than 2,000 apartments.

The firm paid about $89,400 per unit for the Royal Isles apartment complex at 803 Don Quixote Avenue in Orlando.

Royal Isles has apartments with one to three bedrooms. Its common-area amenities include a gym, swimming pool and sundeck, plus an on-site laundry center, a playground and a picnic area with grills.

According to FCP, Evan Kristol and Felipe Echarte of brokerage firm Marcus & Millichap represented the seller of Royal Isles in the transaction.

Berkadia and Fannie Mae facilitated FCP’s assumption of an existing mortgage loan on the property.

Based in Chevy Chase, Maryland, FCP is a privately held real estate investment company that has  financed or invested in more than $6 billion in assets since its startup in 1999. – Mike Seemuth


Related Article

arrow_forward_ios

Construction of downtown Hollywood high-rise may start soon

Jeffrey Epstein commits suicide by hanging himself in his Manhattan jail cell

Miami developer Dan Kodsi plans large St. Petersburg project that could cost $2B

South Florida firm buys Sunrise apartment complex for $20.2M

Home owned by late Miami Marlins pitcher Jose Fernandez is in foreclosure

Developer borrows $105M, breaks ground for mixed-use Flagler Village project

PB Gardens condo community seeks yet another contractor to repair its buildings

Pompano upzones Ocean Boulevard site for 19-story condo next to city park

arrow_forward_ios