Federal Capital Partners has continued to expand its presence in Florida with the $21 million acquisition of two Tampa apartment communities with a combined 293 units.
The acquisitions mark the second and third investments in Tampa in the past twelve months and come three months after the company launched a Florida office in Miami under the leadership of Bruce Gago.
"FCP's expansion in Florida reflects our confidence in its population and employment growth," said FCP Vice President, Jason Ward. "These Tampa communities benefit from easy access to the city's downtown, which continues its transformation into a 24-hour live-work-play environment."
Poplar Park Terrace, soon to be rebranded as The Flats at Seminole Heights, is located at 4111 N. Poplar Avenue within South Seminole Heights, walking distance to the dynamic and growing dining and entertainment amenities within Seminole Heights and a short drive from Downtown Tampa.
The community features 165 spacious apartments with amenities that include a swimming pool, 24-hour fitness center and covered parking.
Fernwood Grove is located at 4900 N. MacDill Avenue in South Tampa, in close proximity to the Westshore and International Plaza Malls, the Hyde Park District, popular restaurants and major commuter routes. The community's 128 one and two bedroom apartments have undergone significant renovations, including a full upgrade of the community's exterior and common area spaces.
Jason Stanton of Berkadia Tampa represented the seller.