FCP announces $24.5 million sale of River Pointe Apartments to Aulder Capital
PORT WASHINGTON, MD — FCP announced the $24.5 million sale of River Pointe, a 170-unit apartment community in Fort Washington, to Aulder Capital. “FCP’s business plan for River Pointe has been successfully completed, with targeted capital invested to improve its appeal in a submarket where tremendous economic growth fueled the demand for workforce housing,” said FCP vice president, Jeff Robertson. “We continue to pursue multifamily assets throughout the Washington, DC region, utilizing our longstanding knowledge of the area to identify exceptional opportunities.” “River Pointe is a well-maintained property of high quality construction and it’s a great fit for our expanding NE Corridor portfolio. Aulder will continue to invest in the property with professionally designed upgrades to interiors, common areas, and the latest amenities for tenants seeking both value and lifestyle,” said Aulder head of acquisitions, Matthew Schneider.