In 2007 it was originally a seven-asset group of properties appraised at $519 million and acquired by a JV between Ross Development & Investment and Rockwood Capital using a $346 million loan. Built between 1947 and 1988, the portfolio consists of Park at Landmark in Alexandria, Va. (later to be rebranded The Strand); the Glen Oaks complex in Greenbelt, Md.; Summerlyn Place, Cypress Creek and Cambridge Crossing, Sutton Walk and Lenox Court (which would later be rebranded into one entity called Cambridge Apartments).

At one point in 2009 the portfolio was returned to a special servicer, according to public records.

FCP came into the picture in 2014 when it acquired a 95% stake in the portfolio, which by that point contained only six assets. FCP's recap valued it at $240 million.

At that point the portfolio included The Strand, two high rise buildings in Alexandria, VA consisting of a 394 units; Cambridge Crossing, Lenox Court and Sutton Walk; Cypress Creek and Summerlyn Place.

BECO Management had acquired Glen Oaks for $73.5 million shortly before FCP's recap.

Also, Toledo Plaza was not a part of the original properties. FCP has acquired the 242-unit apartment building in 2008 for $18 million in 2008 and at the time said it would invest an additional $6.5 million to rehab the 22, three-story buildings that make up the complex.

In 2015 The Strand was sold for around $66 million.

WASHINGTON, DC–Federal Capital Partners has sold a five-asset multifamily portfolio totaling 2,490 units for $328 million. The properties, located in various submarkets in the Washington-Baltimore Corridor, were repositioned or otherwise improved by FCP and then resold.

“FCP takes great pride in the improvements we have made to each of these properties,” said FCP Senior Vice President Jason Bonderenko in a prepared statement.

The properties FCP sold to the unnamed buyer are the 760-unit Cypress Creek in Hyattsville, Penn Landing in Forestville, which contains 598 units, Cambridge Apartments at New Carrollton Station, which has 466 units, the 424-unit Summerlyn Place in Laurel and Toledo Plaza in Hyattsville, which has 242 units.

This portfolio has undergone a number of permutations over the years with properties added and subtracted in one-off deals.

In 2007 it was originally a seven-asset group of properties appraised at $519 million and acquired by a JV between Ross Development & Investment and Rockwood Capital using a $346 million loan. Built between 1947 and 1988, the portfolio consists of Park at Landmark in Alexandria, Va. (later to be rebranded The Strand); the Glen Oaks complex in Greenbelt, Md.; Summerlyn Place, Cypress Creek and Cambridge Crossing, Sutton Walk and Lenox Court (which would later be rebranded into one entity called Cambridge Apartments).

At one point in 2009 the portfolio was returned to a special servicer, according to public records.

FCP came into the picture in 2014 when it acquired a 95% stake in the portfolio, which by that point contained only six assets. FCP's recap valued it at $240 million.

At that point the portfolio included The Strand, two high rise buildings in Alexandria, VA consisting of a 394 units; Cambridge Crossing, Lenox Court and Sutton Walk; Cypress Creek and Summerlyn Place.

BECO Management had acquired Glen Oaks for $73.5 million shortly before FCP's recap.

Also, Toledo Plaza was not a part of the original properties. FCP has acquired the 242-unit apartment building in 2008 for $18 million in 2008 and at the time said it would invest an additional $6.5 million to rehab the 22, three-story buildings that make up the complex.

In 2015 The Strand was sold for around $66 million.