Federal Capital Partners (FCP) has acquired Tampa, Florida's Belara Lakes Apartments, a strategically located and well-appointed 324-unit apartment community, in a $22.4 million deal, the company announced recently from its Chevy Chase, Maryland headquarters.
Situated between the North Dale Mabry Highway retail corridor and Highway I-275, and offering direct access to the Westshore business district, Tampa International Airport, International Mall and recreational facilities, Belara Lakes Apartments represents FCP’s second Florida purchase within the past 90 days.
"FCP is excited to make its first equity investment in a multifamily acquisition in Florida with the purchase of Belara Lakes," FCP’s VP Jason Ward said. "The acquisition of this well-located Tampa community is consistent with FCP's strategy of investing in quality multifamily communities that appeal to a broad range of residents."
The transaction was handled by Nick Meoli of Miami-based Marcus & Millichap’s Meoli-Donaldson team. Marcus & Millichap handles real estate investment sales and advisory services for multifamily, retail, office space and more.
Belara Lakes includes a variety of floor plans, two swimming pools, a lake, fitness facilities, picnic area and children’s playground. Local management has been delegated to Avesta, a community property management firm with its main offices in Tampa.
FCP is currently directing investment towards real estate markets in various East Coast locations.