Federal Capital Acquires Apartment Community in Suburban Maryland for $19.5M

FORESTVILLE, MD. — Federal Capital Partners (FCP) has purchased the 200-unit Capital Courts Apartments on Walker Mill Road in Forestville for $19.5 million. Capital Courts comprises 25 four-story, garden-style apartment buildings with two-, three- and four-bedroom units and amenities including a pool and a playground. FCP plans to invest in capital improvements, including window replacements, renovation of the office/clubhouse and pool areas and additional new landscaping. Gates Hudson has been retained as property manager for Capital Courts. Christine Espenshade, Scott Melnick, Robert Garrish and Kylie Belcher of JLL represented the undisclosed seller in the transaction. Capital One provided acquisition financing.