Federal Capital Partners Acquires Apartment Asset in Tampa for $24.1M

TAMPA, FLA. — Federal Capital Partners (FCP) has acquired The Commons Apartments, a 200-unit multifamily community in Tampa, for $24.1 million. Matt Mitchell and Zach Nolan of HFF represented the undisclosed seller in the transaction. HFF’s Elliott Throne and Preston Reid secured acquisition financing on behalf of FCP. Located off Dale Mabry Highway, The Commons offers two-, three- and four-bedroom units. Community amenities include a barbeque and picnic area, playground, dog park, clubhouse and a swimming pool. FCP will use the financing to implement a capital improvement program, including converting the leasing office into a gym and adding washers and dryers to individual units.