FCP Spins Off Douglasville Rental Community
22
Dec

FCP Spins Off Douglasville Rental Community

FCP sold Stewart’s Mill Apartments in the West Atlanta suburb of Douglasville, GA to Viking Capital for $28.2 million. The 188-unit apartment community was acquired by FCP in March 2020 in a portfolio acquisition along with two other Atlanta apartment communities. FCP completed a number of capital improvements and amenity upgrades.

In addition, FCP’s Structured Investments platform secured $22 million in preferred equity to finance two multifamily transactions: the development of Arris NoDa, a 276-unit, four-story, garden-style property in Charlotte, NC with partner Arris, and a recapitalization with Grubb Properties of Link Apartments West End, a Class A, 215-unit, five-story midrise apartment community in Greenville, SC.

FCP’s Structured Investments platform has invested approximately $676 million of capital to date, providing flexibility and creative capital solutions to owners and developers.  

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