March 28, 2016
Federal Capital Partners (FCP), headquartered in Chevy Chase, MD, acquired the 324-unit Belara Lakes Apartments in Tampa, FL for $22.4 million. Belara Lakes, at 8402 N. Waterford Ave., is the buyer’s first multifamily acquisition in Florida, and its second investment within the past three months.
“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,” said FCP Vice President Jason Ward.
Nick Meoli with Marcus & Millichap brokered the transaction. Avesta will continue to manage the property.