Federal Capital Partners has paid $20 million, or about $157 per unit, for a block of condominiums in Gainesville known as Somerhill Farms, the Chevy Chase-based firm's third major multifamily investment in Northern Virginia in as many months.The six-building community was developed in 2006 but foreclosed on in August 2011 with just 13 condos sold. FCP bought the remaining 127 units at the 140-unit Somerhill development from an affiliate of Ektornet, a subsidiary of Swedbank that manages and develops…Read More... [Source: Residential Real Estate News - Residential Real Estate News Headlines | Bizjournals.com]
No comments:
Post a Comment