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FCP, Level 2 Sell Transit-Oriented Apartment Development in Takoma for $50 Million

Jair Lynch, Artemis Real Estate Partners Add 150-Unit Takoma Central to Joint Holdings
September 4, 2018
A transit-oriented apartment and retail complex completed in 2015 in the northwest Washington, D.C., neighborhood of Takoma has changed hands in a $50.6 million deal.

Artemis Real Estate Partners and Jair Lynch Real Estate Partners struck a deal with fellow locally-based firms Federal Capital Partners and Level 2 Development to acquire Takoma Central, a Class A mixed-use complex located at 235 Carroll St. NW.

The building consists of 150 one- and two-bedroom units, and incorporates 9,000 square feet of street-level retail space anchored by Busboys & Poets restaurant, Yoga Heights and S&A Beads. FCP and Level 2 delivered Takoma Central in August 2015 on a site adjacent to the Takoma Metro station on the Washington side of the D.C./Maryland border.

Dave Nachison and Brenden Flood of Eastdil Secured handled negotiations for the selling venture.

For more information on the transaction, please see CoStar COMPS #4497228.
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