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FCP Buys 279-Unit Apartment Complex in Raleigh for $33.3 Million

Morgan Communities Sells The Trails of North Hills
The Trails of North Hills was originally built in 1974. FCP plans to complete capital improvements to the 279-unit apartment complex. Photo: FCP
The Trails of North Hills was originally built in 1974. FCP plans to complete capital improvements to the 279-unit apartment complex. Photo: FCP
By George Van Dyke
CoStar Research
March 27, 2019 | 7:22 P.M.

Federal Capital Partners, a privately held real estate investment firm, purchased a 279-unit apartment complex in Raleigh, North Carolina, dubbed The Trails of North Hills, for $33.3 million, or about $119,000 per unit.

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News | FCP Buys 279-Unit Apartment Complex in Raleigh for $33.3 Million