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.