Federal Capital, Kettler Sell Plaza Street Apartments in Leesburg

Federal Capital Partners and Kettler have sold the Fields of Leesburg apartment complex in Leesburg.

The joint venture partners sold the 12.5-acre, 405-unit complex at 75 Plaza St. for $55.3 million, according to the Feb. 3 announcement.

The complex was built in the in the 1970s and was significantly renovated following a sale in 1998. The Federal Capital/Kettler partnership, KF Leesburg II, LLC, has owned the property since 2011. The real estate is assessed at $23.6 million, a 15 percent increase over 2016.

The complex participates in a tax credit program that provides affordable residences for renters who qualify.

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