As mentioned in my introduction post, I am a broker with First Capital Realty (FCR), in Bethesda, Maryland. We exclusively specialize in the sale of apartment communities. Our geographic reach is primarily the Eastern Seaboard, but the Washington, DC area is our ‘backyard”. For over a quarter of a century, we have been one of the preeminent brokerage firms in the multi-family arena. Each year we complete sales assignments for institutional owners, private investors, lenders and merchant builders. We are considered a boutique brokerage firm in physical size only (including myself, there are four senior brokers on staff with no junior sales people). Our transaction volume, broad range of deal sizes and locations and extensive network have placed us at the forefront of the industry. Our small size ensures a quick response to our clients’ needs. FCR is known throughout the industry for our problem solving skills, as well as our willingness and ability to tackle complex situations. Our MISSION: is to deliver superior results and record pricing.
Primary Services
There are three primary services to which First Capital Realty offers:
Market Consultation – We have vast experience with multi-family sales in both primary and secondary markets. To date, we have sold 187 communities in 14 states. We speak to owners, operators and consultants on a daily basis as to their current practices and experiences in the market. We maintain one of the industries’ most extensive transaction databases for the DC Metropolitan Area. We also track deals currently under contract, for sale and “rumored” for sale.
Valuation Services – As a function of our brokerage services, we must determine what is the True Value of an owner’s property. By True Value, we mean the “strike price” for which the property will sell after a complete marketing effort has been concluded. The pricing represents a level in today’s market, to which a bona fide purchaser will “stretch” to buy the property. Our property valuations include analysis of current operations, competitive positioning within the submarket, property observations affecting value, and replacement cost analysis.
Brokerage Services – In today’s chaotic real estate market, there are many qualified buyers who are active and flush with cash, eagerly seeking opportunities to purchase real estate at fair market pricing (to which they were precluded during the economic downturn). Other buyers are now beginning to become active as the economy recovers and opportunities arise (distressed or otherwise). In contrast, many groups are still “on the sideline” due to their inability to obtain debt/equity required to procure deals at attractive returns. FCR solely works with active qualified investors for our own exclusive listings and occasional buyer-broker relationships with proven capable buyers.
Our representative relationships range from institutions (PNC Bank, UBS Realty, Northwestern Mutual), to REITs (AvalonBay, Equity Residential, Archstone), to private investors (Bozzuto Group, JPI, Federal Capital Partners) – all of whom we have done repeat business. We love to “talk shop”. We invite opportunities to value assets or develop relationships for “off market” deals where no current owner relationship has been established.
What can First Capital Realty do for you?
Jeff Coles
Senior Broker
First Capital Realty, Inc.
4350 East-West Highway
Suite #400
Bethesda, MD 20814
(301) 907-3200
jcoles@fcr1.com
{ 2 comments… read them below or add one }
Jeff,
Village Green manages over 38,000 apartment units and have third party clients looking to grow in your in the Washington, D.C. metro market. Can you please add send me any multifamily listing you have sale in this market as they come available.
Thank you,
Ginger Collins
VP of Business Development
Ginger:
I know of your company and recently did some work for LaSalle who owns one of the properties you manage. I will reach out to you shortly to discuss opportunities.
Regards,
Jeff Coles