With FCP Backing, St. Charles Cos. Is Poised for Growth

ST CHARLES, MD-It has been one year almost to the day that Federal Capital Partners acquired American Community Properties Trust and then, along with related companies, renamed them The St. Charles Cos. Now, after a period of restructuring along with a $10 million revolving credit line that FCP has secured from Wells Fargo Bank, the 9,100-acre planned community is poised to begin a new wave of development.

The line of credit is one of the largest loans for lot development awarded in the area since the downturn, Lacy Rice, FPC principal tells GlobeSt.com. He expects it will result in $40 to $50 million worth of infrastructure improvements and 1,200 or so residential lots over the next five to six years. “Since we acquired ACPT we have been pushing on some basic land development issues. Now that the restructuring is complete we have been rewarded with one of the first and largest land development credit facilities in the area that will allow us to take St. Charles to the next level,” he says.