St. Charles, MD (PRWEB) August 08, 2012
St. Charles, Maryland, continues to experience its strongest year of sales of new homes in a decade, as homebuilders Lennar, Ryan Homes and Richmond American reported they had signed a combined 110 contracts for new townhomes and single family homes in the first half of 2012 (January through June). Corresponding sales contracts in 2011 for the first half were 77. The 9,100-acre master planned community 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 later this year will mark its 40th anniversary.
“The second quarter of 2012 witnessed record low interest rates, which, combined with St. Charles’ value price points, has encouraged homebuyers to take the opportunity to move to a beautiful new home in a community with established infrastructure and amenities,” said St. Charles Companies CEO, Alan Shearer. New homes in St. Charles have beginning price points in the $190’s for townhomes and $260’s for single family homes.
St. Charles also announced in 2012 the completion of The Nines at Gleneagles, the second phase of three new apartment communities in the Gleneagles neighborhood. The Company plans to begin construction of the third apartment community, which includes an additional 213 units, in early 2013.
Featured in 2011 in the Washington Post’s “Where We Live” section, St. Charles is the largest population center in Charles County and 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 and a new public library. St. Charles appeals to all ages and lifestyles and was recently named by U.S. News and World Report as one of the nation’s top bargains for places to retire.
The St. Charles Companies (http://www.stcharlesmd.com) 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 acres planned community in Charles County, Maryland and the ownership of an apartment portfolio of approximately 3,000 units, primarily 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.