Nuveen Real Estate and Jair Lynch Real Estate Partners have acquired a $105.5m (€91m) US apartment community from FCP and Kettler.

Real estate investment firms FCP and Kettler paid $55m in December 2014 when they bought Fields at Cascades, a 320-unit apartment community in Loudoun County in Virginia.

Lollie Corrigan Loflin, an associate at FCP, said: “Over the past eight years, ownership has invested more than $1.2m in improvements to this property, including updates to the leasing centre, common area amenities, and curing of deferred maintenance.

“We are pleased that Jair Lynch and Nuveen are committed to preserving quality workforce housing through their investment in this property.”

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