About 325 Carroll Street
Takoma, Washington DC
A 150-unit apartment building in Takoma, featuring popular D.C. restaurant chain Busboys and Poets on the ground floor, has just traded hands for over $50M. FCP and Level 2 Development sold Takoma Central to a joint venture of Jair Lynch Real Estate Partners and Artemis Real Estate Partners for $50.6M, according to documents posted Wednesday with the D.C. Recorder of Deeds. The project at 235 Carroll St. NW sits two blocks west of the Takoma Metro station and one block south of the D.C.-Maryland border. FCP and Level 2 developed Takoma Central in 2015. The building has 10K SF of ground-floor retail anchored by Busboys and Poets and also includes a Wells Fargo branch. Along with the acquisition, the buyers received a $28.5M loan from Webster Bank, documents in the Recorder of Deeds office show.
