FCP, Level 2 Development Sell Apartment Community in D.C. for $50.6M

WASHINGTON, D.C. — Federal Capital Partners (FCP) and Level 2 Development have sold Takoma Central, a 150-unit apartment community in Washington, D.C., for $50.6 million. The partnership completed construction on the community in 2015. Located at 235 Carroll St. N.W. in the city’s historic Takoma neighborhood, Takoma Central includes a mix of one- and two-bedroom units and is situated adjacent to the Takoma Metrorail station. Community amenities include a business center, clubhouse, fitness center, storage lockers, barbecue area and a resident lounge. In addition, the community includes 9,000 square feet of ground-floor retail currently leased to tenants such as Busboys & Poets, Yoga Heights and S&A Beads. Dave Nachison and Brenden Flood of Eastdil Secured represented FCP and Level 2 in the transaction. The name of the buyer was not disclosed. The Bozzuto Group has been retained to manage the community.