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.