Federal Capital Partners Takes 2 in Tampa

The company, which is headquartered outside of Washington, D.C., expanded its Florida footprint with the $21 million acquisition of two properties totaling 292 units.

Federal Capital Partners has acquired two apartment communities in Tampa, Fla., for the combined purchase price of $21 million.

Located at 4111 N. Poplar Ave., Poplar Park Terrace offers 164 units with one-, two- and three-bedroom floor plans ranging in size from 600 to 950 square feet. Property amenities include a fitness center, swimming pool, two laundry facilities, controlled access and 450 parking stalls. The community offers convenient access to the dining and entertainment amenities within Seminole Heights and is three miles away from downtown Tampa. The asset will soon be rebranded as The Flats at Seminole Heights.

Located at 4900 N. MacDill Ave., Fernwood Grove encompasses 128 one- and two-bedroom units, ranging in size from 625 to 800 square feet. The community features controlled access, waterscape, playground, swimming pool, laundry facilities and 325 parking spaces. The property is in close proximity to the Westshore and International Plaza Malls. The community’s units have undergone significant refurbishment, including a full upgrade of the exterior and common area spaces.

Back in 2014, both properties traded in a portfolio transaction for the combined purchase price of $10.2 million, according to data provider Yardi Matrix.

Images courtesy of Yardi Matrix