FCP Sells the Allegro Apartments in Columbia Heights
Federal Capital Partners (FCP) reported Thursday that it has sold the Allegro Apartments to an institutional buyer for an undisclosed price.
FCP purchased the 297-unit apartment building in November of 2009 for $77.5 million. After a lease-up of the building, FCP recapitalized the property in July of 2011.
The Allegro is located in the Columbia Heights submarket of Washington, DC and includes a 247-space underground parking garage and more than 6,000 square feet of retail space.
Dave Nachison and Alan Davis of HFF represented FCP in the asset trade.
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