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HomeReal EstateFCP CLOSES $11.1 MILLION IN PREFERRED EQUITY FOR 216-UNIT FLORIDA MULTIFAMILY DEVELOPMENT

FCP CLOSES $11.1 MILLION IN PREFERRED EQUITY FOR 216-UNIT FLORIDA MULTIFAMILY DEVELOPMENT

CHEVY CHASE, Md., Jan. 22, 2024 /PRNewswire/ — FCP® announces $11.1 million in preferred equity has been invested through its Structured Investments platform to finance 1000 Jacaranda, a 216-unit, four-story, multifamily development in Venice, FL with Middle Street Partners (MSP).

“FCP is excited to invest with Middle Street Partners in 1000 Jacaranda,” said FCP’s Bruce Gago, who leads the firm’s Florida office. “The transaction demonstrates our ability to continue to expand our structured investments platform despite a challenging macroeconomic environment, while affirming our thesis of targeting high-growth locations with great sponsors like MSP.”

FCP’s Structured Investments platform has invested approximately $687 million of capital to date, providing flexibility and creative capital solutions to owners and developers. 

About FCP

FCP® is a privately held real estate investment company that has invested in or financed more than $12.9 billion in assets since its founding in 1999. FCP invests directly and with operating partners in commercial and residential assets. The firm makes equity and mezzanine investments in income-producing and development properties. Based in Chevy Chase, MD, FCP invests both its commingled, discretionary funds and separate accounts targeted at major real estate markets in the United States. For further information on FCP, please visit www.fcpdc.com.

About Middle Street Partners

Middle Street Partners (MSP) is a real estate development and investment company focused on multifamily in the Southeastern and Southwestern U.S. Since inception in 2009, MSP has sponsored more than $2 billion of investments in multifamily acquisitions and development. With offices in Charleston, Atlanta, Orlando, Tampa, Nashville, Charlotte, and Austin, development and investment properties owned by MSP span South Carolina, North Carolina, Georgia, Texas, Tennessee and Florida, with anticipated continued expansion throughout the Sun Belt region. To learn more, visit www.middlestreetpartners.com.

SOURCE FCP

Originally published at https://www.prnewswire.com/news-releases/fcp-closes-11-1-million-in-preferred-equity-for-216-unit-florida-multifamily-development-302040997.html
Images courtesy of https://pixabay.com

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