Federal Capital Partners Acquires Two Apartment Communities Totaling 369-Units in Atlanta Market

Source: www.multifamilybiz.com --- Monday, May 02, 2016
atlanta, GA - Federal Capital Partners is making its first multifamily investment in atlanta, GA with the recapitalization of two apartment communities totaling 369 units in strong submarkets of atlanta, GA. Magnolia at Whitlock, with 152 units, is located in Marietta, GA, and The Clarion, with 217 units, is in Decatur, GA. FCP is investing in the two communities through a joint venture with Virginia Beach based real estate investment firm, FortCap Partners. FCP's investment in the atlanta communities comes after an active year expanding into multiple southeastern markets, including Orlando, Tampa and Nashville, and in conjunction with an increasing presence in the Raleigh-Durham, Charlotte and Charleston markets. "Following the planned renovations, Magnolia at Whitlock and The Clarion will both be extremely well positioned to have an enhanced appeal to residents in their respective submarkets," said FCP Sr. Vice President, Bryan Kane. "These communities fit nicely within FCP's portfolio. We look forward to working with FortCap to reposition the communities and maximize their operations." The Clarion is positioned within the densely populated Decatur submarket near the Avondale MARTA station, Emory University, the Centers for Disease Control and other major employers. The community is surrounded by established residential neighborhoods and is proximate to downtown Decatur, Midtown and Buckhead. The Clarion will receive unit renov ...