FCP announces $105.5m sale of Fields at Cascades Apartments in Sterling, Va.
FCP, with partner KETTLER, has sold Fields at Cascades Apartments in Sterling, Va., to Jair Lynch Real Estate Partners and Nuveen Real Estate for $105.5 million.
The 320-unit apartment community was acquired by FCP and KETTLER in December 2014 for $55.78 million.
“Fields at Cascades is a well-located community in Loudoun County, an area in high demand by Northern Virginians. Over the past eight years, ownership has invested more than $1.2 million in improvements to this property, including updates to the leasing center, common area amenities, and curing of deferred maintenance,” said FCP’s Lollie Corrigan Loflin. “We are pleased that Jair Lynch and Nuveen are committed to preserving quality workforce housing through their investment in this property.”
The Fields at Cascades is located minutes from shopping at the Dulles Town Center, near parks and recreation, and convenient to the Dulles Tech Corridor. Residents can commute easily via Route