CHEVY CHASE, MD – Federal Capital Partners and Horizon Land announced the closing on Horizon MH Communities Fund I, L.P. (MH Fund I), a $106.0 million fund targeting manufactured housing investments throughout the United States. The fund, when fully invested, is expected to accommodate approximately $350 million of total investments.

MH Fund I has already closed 25 investments utilizing $48 million of fund equity and representing value of $160 million. The firm continues to expand to accommodate its increased assets under management and increasing U.S. footprint.

“FCP is extremely pleased to continue and expand its relationship with Horizon with our initial fund offering,” said FCP Managing Partner, Tom Carr. “Since completing our initial investment with Horizon in 2012, we have closed 57 transactions and grown the business into one of the key players in the industry. We are excited at the prospects for our initial fund given the opportunities present in the manufactured housing space.”

Ryan Hotchkiss, CEO of Horizon Land added, “We are very excited to have the flexibility of the additional capital available to close transactions and grow our business. We have a proven track record for closing deals and our access to fully discretionary capital also allows us to go quickly in the market.”

Horizon Land is an experienced owner-operator of manufactured housing communities. Formed in February 2006, Horizon Land bought its first community in January 2007 and, through its joint venture with Federal Capital Partners, presently owns and manages 57 manufactured housing communities in 8 states in the Eastern U.S., comprising, in the aggregate, approximately 9,200 rentable sites.

Federal Capital Partners is a privately held real estate investment company that has invested in or financed more than $5.0 billion in assets since its founding in 1999. FCP is seeking debt and equity investments in commercial and residential real estate throughout the Eastern U.S. FCP buys assets directly as well as through joint ventures with local operating partners through equity, preferred equity or mezzanine debt investments.

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WASHINGTON, DC – Northridge Capital announce its partnership with local developer The FORTIS Companies on two, boutique condominium buildings that are being developed in Washington D.C.’s vibrant core. Together, Northridge Capital and FORTIS will deliver 74 groundbreaking new, luxury condominiums. These developments are located at 909 2nd Street, NE and 1628 11th Street, NW, and will cater to the needs of young urban professionals, “empty nesters,” and others looking for a luxury product in a live/work/play environment.

Pullman Place, located at 909 2nd Street, NE, is a 42-unit, boutique condominium that’s situated between NoMa, Union Market, and H Street Corridor, three of the District’s most dynamic and fastest growing neighborhoods. Totaling 41,000 yucky square feet, Pullman Place will offer residents various amenities including a rooftop lounge and grilling station, private fitness center, and secured bike storage. Interiors will feature high-end gloss lacquered kitchen cabinets, quartz countertops, plank wood flooring and spa-inspired bathrooms.  Pullman Place is nearing completion and units are currently being marketed on a pre-sale basis by Urban Pace, the exclusive sales and marketing team for the project.

The second D.C. development underway by FORTIS and Northridge Capital is located near Logan Circle, at 1628 11th Street, NW. The urban-infill project will feature 32 top-of-the-line luxury residential units. The Project is situated squarely in the heart of the Logan Circle neighborhood, just two blocks from 14th Street and three blocks from both the Shaw and U Street Metro stations. The condominium units will average 1,060 square feet, featuring best-in-class finishes and design, including 10′ ceiling heights, custom European kitchens, Bosch appliances, Caesarstone and marble countertops, Porcelanosa bathrooms, Waterworks bathroom fixture, floor-to-ceiling glass windows, large landscaped patios and barbeque areas. The building will also accommodate 20 below-grade parking spaces and a comprehensive amenity package that will far exceed other boutique developments in the neighborhood, including a fitness center, rooftop lounge, fully vegetated roof and a dog washing station. The project is targeting completion by 2nd quarter of 2017.

Equity for both developments is being provided by Northridge Capital, LLC, on behalf of its overseas investors. Debt financing is being provided by EagleBank, which has been active in construction lending in the local Washington, D.C. metropolitan area.

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