St. Charles, MD (PRWEB) October 22, 2012
St. Charles, Maryland signed 51 new home contracts in the third quarter of 2012, exceeding the 36 contracts signed in the third quarter or 2011, a jump of more than 40%. For the first nine months of 2012, the award-winning community signed 43% more new home contracts with 161 contracts for the first nine months of 2012 as compared to 112 in 2011. Homebuilders Lennar, Ryan Homes and Richmond American continue to report high levels of model traffic, demonstrating the strength of demand for the wide variety of homes offered at extraordinary values in a community with such a large amenity base, easy access to the Beltway and nearby work destinations. St. Charles is the best-selling new home community in Charles County and is considered one of the most successful master planned communities in the country. St. Charles is just 11 miles south of the Capital Beltway and this year marks its 40th anniversary.
“The third quarter of 2012 saw buyers taking advantage of an unprecedented opportunity to buy a new home with historically low interest rates,” said St. Charles Companies CEO, Alan Shearer. Shearer continued, “They recognize the extraordinary value offered by the home choices at St. Charles and appreciate the proximity to recreation, excellent neighborhood schools and the sense of community that is unique to us.” New homes in St. Charles have beginning price points in the $190’s for townhomes and $260’s for single family homes.
Named by CNN’s Money Magazine as one of the top twenty small cities to live in America, St. Charles is known for its diverse and abundant neighborhoods, lively retail centers, recreational opportunities and excellent schools. St. Charles is home to the Southern Maryland Blue Crabs Atlantic League baseball team at Regency Furniture Stadium, and has several additional new construction projects underway within its boundaries, including the new St. Charles High School scheduled for opening in 2014 and the just-unveiled, state-of-the-art Waldorf West public library. St. Charles appeals to all ages and lifestyles and was featured in 2011 in the Washington Post’s “Where We Live” section and named by U.S. News and World Report as one of the nation’s top bargains for places to retire. St. Charles invites you to like us on Facebook at St. Charles MD or visit us at http://www.stcharlesmd.com.
The St. Charles Companies includes American Community Properties Trust, The Apartments of St. Charles, American Land Development and St. Charles Community, LLC. The St. Charles Companies’ lines of business include the residential and commercial development of St. Charles, a 9,100 acre planned community in Charles County, Maryland and the ownership of an operating apartment portfolio of approximately 2,500 units in St. Charles.
Federal Capital Partners (http://www.fcpdc.com) acquired The St. Charles Companies in December 2009 through its FCP Fund I, L.P. Federal Capital Partners (FCP) is a privately held real estate investment company that has invested in or financed more than $3.0 billion in assets since its founding in 1999. FCP is seeking debt and equity investments in commercial and residential real estate throughout the Mid-Atlantic region, including Washington DC, Maryland, Virginia, Pennsylvania, the Carolinas, Delaware, New Jersey and West Virginia. FCP buys assets directly as well as through joint ventures with local operating partners through equity, preferred equity or mezzanine debt investments. The firm, based in Chevy Chase, MD, manages $769 million of discretionary capital. FCP is currently investing its second fund, a $529 million commingled, discretionary fund closed in 2012. For further information on FCP, please visit http://www.fcpdc.com.