FIRST CAPITAL BROKERS $44.1M SALE OF BELMONT STATION

ELKRIDGE, MD. — First Capital Realty has arranged the $44.1 million sale of Belmont Station, a 208-unit, Class A apartment community in Elkridge, about 11 miles southwest of Baltimore. The property, which was built in 2008, consists of five buildings, four townhomes and a 6,500-square-foot clubhouse. The new owner plans to invest in common area renovations and upgrades to the existing apartments. Plans include a redesign of the clubhouse interior, fitness center, landscaping and signage upgrades. Apartment upgrades will include granite countertops, upgraded flooring and designer paint schemes. Jeff Fabrikant of First Capital Realty represented the seller, and Jeff Coles of First Capital Realty represented the buyer, JRK Investors Inc., a Los Angeles-based investment group, in the transaction.